| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 20th | Poor |
| Amenities | 73rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2964 Beach Channel Dr, Far Rockaway, NY, 11691, US |
| Region / Metro | Far Rockaway |
| Year of Construction | 2007 |
| Units | 99 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2964 Beach Channel Dr, Far Rockaway Multifamily Investment
Neighborhood occupancy is steady and renter concentration is high, pointing to a durable tenant base for stabilized operations, according to WDSuite’s CRE market data.
This Urban Core pocket of Far Rockaway offers everyday convenience that supports renter retention: grocery and pharmacy access rank well versus other U.S. neighborhoods, while parks are reasonably accessible. Cafés are sparse, and average school ratings trend below national norms, which can influence resident mix and marketing strategy. Median home values are elevated for the area, which typically reinforces reliance on multifamily rentals and helps sustain leasing demand.
From an investor lens, neighborhood occupancy trends are attractive: the area’s occupancy sits above national norms (top quartile nationally), and the share of housing units that are renter-occupied is among the highest nationwide. That combination generally supports day‑to‑day leasing stability and a deep tenant pool, though it also calls for consistent asset and tenant-experience management to protect renewal rates.
Demographic statistics aggregated within a 3‑mile radius show recent population and household growth over the last five years, with projections pointing to additional household gains and a smaller average household size. This suggests a gradually expanding renter pool and potential for steady absorption across a range of unit types. Median rent levels and rent‑to‑income dynamics indicate some affordability pressure in the renter base, making disciplined lease management and value delivery important for retention.
Relative to the New York–Jersey City–White Plains metro, the neighborhood rates above the metro median on amenities like groceries and pharmacies and remains competitive among the 889 metro neighborhoods on occupancy. Based on CRE market data from WDSuite, these fundamentals align with workforce‑oriented demand drivers while leaving room for targeted improvements in community programming and resident services.
Safety metrics indicate higher crime levels than many neighborhoods nationally, placing the area below national safety averages. Within the New York–Jersey City–White Plains metro (889 neighborhoods), the neighborhood’s crime rank falls in the less favorable half, signaling that security planning and resident communication should be part of asset operations.
Recent trend data is directionally constructive: estimated property offenses and violent offenses have both declined year over year, suggesting improvement. For investors, this supports a balanced approach—maintain prudent security measures and partnerships while monitoring whether the downtrend persists relative to metro peers.
Proximity to established corporate employers supports commuting convenience and helps deepen the renter base, with roles spanning insurance, airlines, and diversified corporate offices. Featured employers include Prudential, JetBlue Airways, Dr Pepper Snapple Group, AIG, and S&P Global.
- Prudential — insurance (6.5 miles)
- Jetblue Airways — airline HQ and corporate offices (13.9 miles) — HQ
- Dr Pepper Snapple Group — corporate offices (14.4 miles)
- Aig — insurance (14.6 miles) — HQ
- S&P Global — financial information services (14.7 miles) — HQ
2964 Beach Channel Dr is a 2008‑vintage asset in a renter‑heavy pocket of Queens where neighborhood occupancy trends remain healthy and renter-occupied housing share is among the highest in the nation. Newer construction relative to the area’s older housing stock positions the property competitively versus legacy buildings, while still allowing room for selective modernization to support rent premiums and renewal capture.
Population and household growth within a 3‑mile radius point to a gradually expanding tenant base, and elevated local home values create a high‑cost ownership market that typically sustains multifamily demand. At the same time, affordability pressure in parts of the renter base and below‑average school ratings call for measured expectations and active management. These dynamics, based on commercial real estate analysis from WDSuite, suggest a durable, operations‑focused thesis with targeted value‑add upside.
- Newer 2008 construction versus older neighborhood stock supports competitive positioning and reduces near‑term capex compared with legacy assets.
- High renter-occupied housing share and above‑average neighborhood occupancy support leasing stability and renewal potential.
- 3‑mile population and household growth expand the renter pool, aiding absorption across unit types.
- Elevated local home values reinforce reliance on rentals, bolstering depth of demand.
- Risks: affordability pressure in parts of the renter base, below‑average school ratings, and the need for continued security measures given comparative safety rankings.