| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 58th | Fair |
| Amenities | 81st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5646 Van Cleef St, Corona, NY, 11368, US |
| Region / Metro | Corona |
| Year of Construction | 1990 |
| Units | 21 |
| Transaction Date | 2007-12-20 |
| Transaction Price | $2,175,000 |
| Buyer | MAD MAX REALTY LLC |
| Seller | CORONA/VAN CLEEF REALTY LLC |
5646 Van Cleef St, Corona NY Multifamily Investment
Steady neighborhood occupancy and strong daily-life amenities in Corona support renter demand, according to WDSuite’s CRE market data. Investors should view this asset as exposure to an Urban Core pocket where amenity access underpins leasing durability.
The property sits in an Urban Core neighborhood of the New York–Jersey City–White Plains metro that ranks in the top quartile among 889 metro neighborhoods for overall performance, per WDSuite. Amenity access is a clear strength: cafes and parks index in the high national percentiles, and grocery density sits near the top of peer areas nationwide. This level of convenience typically supports day-to-day livability and reduces friction during leasing and renewals.
Neighborhood occupancy is stable at the area level, and local rents have trended upward over the last five years. Within a 3-mile radius, demographics show a large and diverse renter base and household growth over recent years, pointing to a broader tenant pipeline. Forecasts indicate continued population and household expansion within that radius, which can bolster the renter pool and support occupancy stability.
Renter-occupied share is high within 3 miles (around three-fifths of housing units), signaling depth of demand for multifamily product and potential resilience across cycles. Median home values in the neighborhood are elevated relative to many U.S. areas, which tends to keep renters in the market longer and can aid lease retention and pricing power for well-positioned units. At the same time, rent-to-income levels suggest measured affordability pressure, calling for attentive lease management.
The average local building vintage skews older than 1965, while this asset was built in 1990. That newer vintage versus neighborhood stock can enhance competitive positioning, though investors should still plan for modernization of aging systems or selective value-add to meet today’s renter preferences.
Safety indicators for the neighborhood track below the national median, with property and violent offenses higher than many U.S. neighborhoods. However, WDSuite’s data shows year-over-year declines in both property and violent offense rates, indicating improving momentum. For investors, this suggests monitoring trends and management practices, recognizing that Urban Core locations can vary block-to-block and that sustained declines would support renter retention over time.
Proximity to major corporate employment nodes supports commute convenience and multifamily demand, with access to airline headquarters, finance, defense/aerospace, and pharmaceuticals represented below.
- Jetblue Airways — airline HQ (4.7 miles) — HQ
- Prudential — financial services (5.0 miles)
- Lockheed Martin — defense & aerospace offices (6.3 miles)
- Pfizer — pharmaceuticals (6.4 miles) — HQ
- Citigroup — banking & corporate offices (6.5 miles) — HQ
5646 Van Cleef St provides 21 units with compact layouts, positioning the asset for workforce renters who prioritize location and value. Neighborhood occupancy trends remain stable, and elevated home values in the area reinforce reliance on rental housing, creating a deeper tenant base. The property’s 1990 construction stands newer than much of the local stock, offering a relative advantage while still leaving room for targeted upgrades.
Within a 3-mile radius, population and household growth, along with a high renter concentration, point to ongoing renter pool expansion that can support leasing and retention. Based on commercial real estate analysis from WDSuite, amenity density (cafes, groceries, parks) is a local strength, helping sustain demand even as affordability pressure warrants thoughtful pricing and renewal strategies.
- Stable neighborhood occupancy and growing 3-mile renter pool support demand durability
- 1990 vintage compares favorably with older local stock; scope for selective value-add
- Elevated ownership costs in the area reinforce multifamily reliance and lease retention potential
- Strong amenity density (cafes, groceries, parks) underpins livability and leasing velocity
- Risks: safety metrics below national median and affordability pressure require proactive operations