| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 54th | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13645 37th Ave, Flushing, NY, 11354, US |
| Region / Metro | Flushing |
| Year of Construction | 1998 |
| Units | 65 |
| Transaction Date | 2025-07-22 |
| Transaction Price | $15,600,000 |
| Buyer | CIAMPA 136-39 REALTY LLC |
| Seller | CIAMPA REALTY II LLC |
13645 37th Ave, Flushing NY Multifamily Investment
Renter demand is reinforced by a high-cost ownership market and solid neighborhood occupancy, according to WDSuite’s CRE market data. Expect stable leasing fundamentals in an amenity-rich Urban Core location.
Located in Flushing’s Urban Core, the property sits in a neighborhood rated A and ranked 64 out of 889 metro neighborhoods — competitive among New York-Jersey City-White Plains submarkets. The area’s occupancy is strong and has improved over the past five years, supporting income stability for multifamily assets.
Livability and convenience are clear strengths. Restaurants, cafes, groceries, and pharmacies register at the top of national comparisons, indicating dense daily amenities within walking distance and strong appeal for renters who prioritize proximity. Transit connectivity and neighborhood services help underpin retention and steady leasing.
Tenure metrics point to depth in the tenant base: the neighborhood has a high share of renter-occupied housing units, which typically supports consistent demand for professionally managed apartments. Within a 3-mile radius, households have increased in recent years and are projected to rise further as average household size trends lower, implying a larger renter pool and ongoing need for multifamily units.
Ownership costs are elevated relative to incomes in this part of Queens, with home values in the upper national range. That dynamic tends to sustain reliance on rental housing and can support pricing power, though it warrants attentive lease management where rent-to-income ratios run high.
Safety conditions are mixed when benchmarked nationally. The neighborhood sits below the national average for safety (lower national percentile), but recent year-over-year estimates indicate double-digit declines in both violent and property offenses, suggesting directional improvement. Investors should underwrite conservatively and track neighborhood-level trends rather than drawing conclusions from block-level variation.
Proximity to major employers in aviation, insurance, aerospace/defense, hospitality, and diversified holdings supports commuter convenience and broad renter demand consistent with workforce housing patterns in Queens.
- JetBlue Airways — airline (5.5 miles) — HQ
- Prudential — insurance (6.5 miles)
- Lockheed Martin — defense & aerospace offices (7.1 miles)
- Loews — hospitality & holdings (7.1 miles) — HQ
- HRG Group — diversified holdings (7.2 miles) — HQ
This 65-unit asset benefits from neighborhood occupancy near the mid-90s and an A-rated location with dense daily amenities — a combination that tends to support rent roll durability and steady leasing, based on CRE market data from WDSuite. Elevated ownership costs in Queens reinforce reliance on rental housing, while the neighborhood’s high renter-occupied share points to a deep tenant base.
Within a 3-mile radius, household counts have risen and are projected to expand alongside a decline in average household size, which typically broadens the renter pool and supports occupancy stability. Affordability pressure should be monitored — rent-to-income runs high locally — and underwriting should account for below-average safety metrics even as reported offenses have trended lower year over year.
- Amenity-rich A-rated location supports retention and lease stability.
- High renter-occupied share indicates depth of demand for multifamily units.
- Elevated ownership costs in Queens reinforce sustained rental demand and pricing power.
- Risk: affordability pressure (high rent-to-income) and below-national-average safety warrant conservative underwriting and active lease management.