| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 80th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3616 Astoria Blvd, Astoria, NY, 11103, US |
| Region / Metro | Astoria |
| Year of Construction | 2007 |
| Units | 26 |
| Transaction Date | 1999-11-10 |
| Transaction Price | $107,000 |
| Buyer | ANTERI PETER |
| Seller | GRUPPUSO PIETRO |
3616 Astoria Blvd Astoria 26‑Unit Multifamily
Neighborhood indicators point to durable renter demand and pricing power in a high-cost ownership market, according to WDSuite’s CRE market data; all occupancy and tenure figures reference the surrounding neighborhood, not this property.
Astoria’s Urban Core location delivers deep lifestyle convenience for renters. Restaurant and grocery density ranks in the top tier nationally (both near the 99th percentile), with pharmacies and parks also testing well versus neighborhoods across the country. Within the New York–Jersey City–White Plains metro, the area’s amenity access is competitive among 889 neighborhoods (amenity rank 158 of 889), supporting leasing appeal and tenant retention.
The property’s 2009 vintage positions it competitively against an older neighborhood housing stock (average vintage 1955). Newer construction can reduce immediate capital needs and enhances curb appeal versus legacy assets, though investors should still budget for mid‑life system updates and selective modernization to sustain positioning.
Renter concentration is a core strength: within the neighborhood, an estimated 62.3% of housing units are renter‑occupied (top decile nationally), indicating a broad tenant base for multifamily. Looking at demographics aggregated within a 3‑mile radius, households expanded modestly over the past five years despite a slight population dip, and forecasts point to notable gains in both households and incomes by 2028. Smaller projected household sizes suggest steady demand for efficient layouts, which aligns with mid-sized urban units.
Home values in the neighborhood sit in a high-cost ownership market (near the 97th national percentile) with a value‑to‑income ratio also elevated relative to U.S. norms. This context typically supports renter reliance on multifamily housing and can aid lease retention and pricing discipline. By contrast, neighborhood occupancy (measured at the neighborhood level, not the asset) trends below metro norms, implying that professional leasing, targeted upgrades, and competitive pricing are important to maintain occupancy stability.
Safety trends should be evaluated with a comparative lens. The neighborhood reads less safe than many areas nationwide (violent and property offense measures sit in low national percentiles), yet recent year‑over‑year data shows improving momentum with double‑digit declines in both categories. Within the New York–Jersey City–White Plains metro’s 889 neighborhoods, these metrics place the area below the metro average, so investors typically underwrite for enhanced security features, tenant screening, and community engagement to support retention.
Nearby employers in air travel, diversified holdings, defense, and corporate apparel/finance broaden the commuter base and support renter demand at workforce and professional price points. Listed below are representative anchors within a short radius.
- Jetblue Airways — airline HQ (1.8 miles) — HQ
- Loews — diversified holdings (3.0 miles) — HQ
- Lockheed Martin — defense & aerospace offices (3.1 miles)
- HRG Group — diversified holdings (3.1 miles) — HQ
- Ralph Lauren — apparel HQ (3.1 miles) — HQ
3616 Astoria Blvd offers a 26‑unit, 2009‑built asset in an amenity‑rich Urban Core pocket of Astoria where renter demand is reinforced by a high‑cost ownership landscape and a strong share of renter‑occupied units at the neighborhood level. According to CRE market data from WDSuite, the surrounding neighborhood’s amenity access ranks competitively within the metro and highly versus U.S. peers, supporting leasing velocity and retention.
Forward-looking demographics aggregated within a 3‑mile radius indicate rising household counts and incomes alongside smaller household sizes, which can expand the renter pool for efficient urban floor plans. While neighborhood occupancy and safety metrics screen below metro averages, recent crime trend improvements and thoughtful capex toward security, unit refreshes, and professional leasing can position the property to capture demand and sustain cash flow.
- 2009 vintage competes well against older local stock, with manageable mid‑life capex and modernization opportunities.
- Amenity‑rich Urban Core setting (restaurants, groceries, parks) supports leasing and retention.
- High‑cost ownership market and strong renter‑occupied share deepen the tenant base and support pricing discipline.
- 3‑mile outlook shows household and income growth, aligning with demand for efficient urban units.
- Risks: below‑average neighborhood occupancy and safety metrics; mitigation via security, targeted upgrades, and proactive leasing.