| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 84th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9922 67th Rd, Forest Hills, NY, 11375, US |
| Region / Metro | Forest Hills |
| Year of Construction | 2001 |
| Units | 29 |
| Transaction Date | 1999-05-23 |
| Transaction Price | $500,000 |
| Buyer | STONE HILL REALTY CO LLC |
| Seller | FRANTELLIZZI DOMINICK |
9922 67th Rd, Forest Hills NY Urban-Core Multifamily
Positioned in an amenity-dense Queens submarket, this 29-unit asset benefits from a majority renter-occupied housing base and steady neighborhood occupancy, according to WDSuite s CRE market data.
Forest Hills scores competitively within the New York Jersey City White Plains metro, with the neighborhood rated A and ranked 38 out of 889 neighborhoods a strong relative position for long-term multifamily demand. Amenities are a clear differentiator: the area sits in the 99th percentile nationally for overall amenity access, with dense coverage of grocery, parks, pharmacies, cafes, and restaurants. Schools average 4.0 out of 5 and place in the top quartile nationally, reinforcing family-friendly appeal for a range of renter profiles.
The property s 2001 construction is materially newer than the neighborhood s older housing stock (average vintage mid-1950s), supporting competitive positioning versus surrounding buildings. Investors should still plan for targeted modernization as systems reach middle age, but the relative vintage can aid leasing and retention against nearby prewar and midcentury inventory.
Within a 3-mile radius, demographics show a large and diverse population base, rising household counts, and higher median incomes trending upward over recent years. Projections point to continued population growth and an expanding household base over the next five years, which implies a larger tenant pool and supports occupancy stability. The renter concentration within this 3-mile area remains substantial, reinforcing depth of demand for professionally managed apartments.
Home values in the neighborhood are elevated relative to national norms, and ownership costs run high for many households. For investors, this tends to sustain reliance on rental housing and can support pricing power, provided lease management remains attentive to rent-to-income levels to mitigate retention risk. Neighborhood occupancy trends sit above many U.S. locations, and rent levels are consistent with a high-amenity urban core, based on CRE market data from WDSuite.
Safety indicators for the neighborhood are mixed. Relative to neighborhoods nationwide, overall crime metrics sit below the national median (crime measures around the 31st national percentile), and within the metro the area performs around the middle of the pack. Recent trend data shows year-over-year declines in both property and violent offense rates, suggesting gradual improvement rather than a structural shift.
For context, the neighborhood ranks 381 out of 889 metro neighborhoods on crime-related measures. Investors typically account for these conditions through security features, lighting, and operating practices, while leveraging the area s dense amenities and transit access to support tenant retention.
The employment base nearby blends financial services, airlines, pharmaceuticals, aerospace, and asset management a mix that supports renter demand through varied white-collar and professional roles. Notable employers within a short commute include Prudential, JetBlue Airways, Pfizer, Lockheed Martin, and TIAA.
- Prudential insurance & financial services (3.9 miles)
- Jetblue Airways airline HQ & corporate offices (4.8 miles) HQ
- Pfizer pharmaceuticals (6.5 miles) HQ
- Lockheed Martin defense & aerospace offices (6.5 miles)
- TIAA asset management & retirement services (6.6 miles) HQ
This 29-unit property offers exposure to a high-amenity Queens location where renter demand is reinforced by elevated ownership costs and a sizable renter base within a 3-mile radius. According to CRE market data from WDSuite, the neighborhood exhibits competitive rankings within the New York metro and steady occupancy, while incomes and household counts have been trending upward supporting lease-up and retention.
Built in 2001, the asset is newer than much of the surrounding housing stock, aiding its competitive position versus midcentury buildings. Investors should anticipate selective capital projects typical for a 2000s vintage (unit updates, common-area refresh, building systems planning), balanced by strong amenity access and proximity to diverse employment nodes.
- Amenity-rich urban core with schools, parks, and daily-needs retail supporting tenant retention.
- Competitive neighborhood standing in the New York metro with steady occupancy and deep renter base.
- 2001 vintage provides relative edge over older stock while allowing value-add through targeted upgrades.
- Elevated ownership costs reinforce reliance on rental housing, supporting pricing power with prudent lease management.
- Risks: crime metrics sit below national medians; operators should prioritize security and responsive property management.