| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 77th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3134 33rd St, Astoria, NY, 11106, US |
| Region / Metro | Astoria |
| Year of Construction | 2012 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3134 33rd St, Astoria NY Multifamily Investment
Renter demand is supported by an Urban Core location with deep amenities and a high renter-occupied housing base in the surrounding area, according to WDSuite’s CRE market data. Neighborhood occupancy trends should be monitored, but the asset’s positioning can benefit from strong commute access and services.
Astoria’s Urban Core setting scores well for overall livability (A rating), ranking 47 out of 889 metro neighborhoods — top quartile among 889 metro neighborhoods. Abundant neighborhood amenities compare favorably to national CRE trends, with restaurants, groceries, parks, pharmacies, and cafes all at or near the 100th percentile nationally, supporting daily convenience and leasing appeal for multifamily renters.
The property’s 2012 vintage is newer than the neighborhood’s average 1974 building stock. That relative youth can be a competitive lever versus older assets while still warranting routine capital planning for mid-life systems and potential modernization to meet current renter preferences.
Tenure patterns indicate a deep renter base: neighborhood data show a high share of renter-occupied units locally, and within a 3-mile radius renters account for a substantial majority of occupied housing. For investors, this suggests depth of demand and a broad tenant pool for smaller-format units.
Within a 3-mile radius, recent demographics show slight population softness but continued growth in households alongside smaller average household sizes. Forward-looking projections point to increases in both population and households, implying a larger tenant base and more renters entering the market — a constructive backdrop for occupancy stability and lease-up, based on CRE market data from WDSuite.
Ownership costs are elevated relative to incomes (high median home values and a high value-to-income ratio), which in this context reinforces renter reliance on multifamily housing and can support pricing power. Neighborhood median contract rents have risen over the past five years, while rent-to-income levels indicate manageable affordability pressure; effective lease management remains important where pricing has outpaced incomes.
Note that neighborhood occupancy is currently soft relative to metro and national medians and has trended down in recent years. This is a neighborhood statistic, not the property’s performance. Execution that emphasizes unit finishes, service quality, and amenity access can help capture demand in this competitive submarket.
Safety metrics should be contextualized at the neighborhood level. Relative to other areas nationwide, this neighborhood sits below the national median for safety, while within the New York–Jersey City–White Plains metro it is above the midpoint of the distribution. Importantly, recent year-over-year trends indicate material declines in both violent and property offense rates, suggesting conditions have been improving rather than deteriorating.
Interpreting ranks and percentiles: the neighborhood’s standing reflects higher reported crime than areas in the top national percentiles for safety, but its improving trend aligns with broader urban recovery patterns. As always, investors should underwrite security, lighting, and access controls appropriate for an Urban Core asset and consider resident retention strategies that emphasize on-site management presence.
Nearby employers provide a diverse white-collar employment base that supports renter demand and retention for workforce and professional tenants. Key nodes within a short commute include JetBlue Airways, Lockheed Martin, Loews, HRG Group, and Ralph Lauren.
- JetBlue Airways — airline HQ and corporate (1.2 miles) — HQ
- Lockheed Martin — defense & aerospace offices (2.5 miles)
- Loews — diversified holdings corporate (2.5 miles) — HQ
- HRG Group — investment holding company (2.5 miles) — HQ
- Ralph Lauren — apparel & retail corporate (2.6 miles) — HQ
3134 33rd St is a 39-unit multifamily asset built in 2012, positioned in an amenity-rich Astoria pocket where renter households dominate the surrounding housing stock. The asset’s newer vintage versus the area’s older baseline provides competitive positioning against legacy inventory, while small average unit sizes can align with demand from efficiency-seeking renters. According to CRE market data from WDSuite, the broader neighborhood offers strong amenity access and high-cost ownership dynamics that tend to sustain rental demand, even as neighborhood-level occupancy merits careful lease and pricing execution.
Within a 3-mile radius, household counts have increased and are projected to rise further alongside smaller household sizes — a setup that typically expands the renter pool and supports lease-up and retention. Elevated home values compared with incomes favor continued reliance on rentals, while recent improvements in reported crime rates and a concentrated employment base nearby add to the long-term fundamentals. Principal risks include softer neighborhood occupancy and median school ratings around the national middle, which call for disciplined operations and targeted unit upgrades.
- 2012 vintage outcompetes older local stock; plan for mid-life systems and selective value-add
- Deep renter-occupied housing base and Urban Core amenities support demand and retention
- High-cost ownership market reinforces reliance on rentals and pricing power potential
- Expanding households and smaller household sizes within 3 miles indicate a larger tenant base
- Risks: neighborhood occupancy is soft and school ratings are mixed; active leasing and asset management required