| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 37th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8442 Smedley St, Jamaica, NY, 11435, US |
| Region / Metro | Jamaica |
| Year of Construction | 2006 |
| Units | 47 |
| Transaction Date | 2021-12-07 |
| Transaction Price | $20,250,000 |
| Buyer | WOODWISE LLC |
| Seller | SMEDLEY PLAZA LLC |
8442 Smedley St Jamaica NY 47-Unit Multifamily
Neighborhood occupancy is holding near the mid-90s with a high renter-occupied share, pointing to durable tenant demand in Jamaica, according to WDSuite’s CRE market data. Newer construction relative to local stock supports competitive positioning and operational efficiency.
Positioned in Jamaica’s Urban Core, the neighborhood rates B+ and is competitive among New York-Jersey City-White Plains metro neighborhoods (rank 258 of 889). Investors benefit from strong daily-needs coverage: pharmacies and grocery options rank at the top nationally, and restaurants are also in the top tier. This amenity density supports leasing convenience and reduces resident friction.
The area skews renter-heavy, with roughly three-quarters of housing units renter-occupied at the neighborhood level—indicating a deep tenant base for multifamily operators. Neighborhood occupancy is around 94%; this is a neighborhood statistic, not property-specific, and it has remained generally stable, supporting cash flow predictability.
Construction in the surrounding area trends older (average vintage circa 1958), while this asset’s 2006 vintage is newer than much of the local stock—helping competitive positioning versus legacy buildings. Elevated home values relative to incomes (high national percentiles for value-to-income) indicate a high-cost ownership market that tends to sustain reliance on rentals, which can aid retention and pricing power when managed carefully. Median asking rents in the neighborhood sit above national levels, reflecting urban demand and access.
Within a 3-mile radius, demographics show flat population but growth in households alongside smaller average household sizes. That shift implies a larger tenant base spread across more households, which can support occupancy stability and absorption for compact units. School ratings trail national norms, so marketing may lean more on commute convenience, amenities, and services. These conclusions reflect commercial real estate analysis drawn from WDSuite’s datasets.
Safety metrics are mixed and should be underwritten with care. The neighborhood’s overall crime standing is below metro average (rank 385 of 889), and national comparisons place it below typical safety levels (around the 31st percentile nationwide). Violent-offense indicators sit in a low national percentile, while property-offense rates are also below national norms.
Recent trends are directionally improving: estimated violent offenses declined year over year and property offenses also trended down, according to WDSuite. As always, investors should anchor risk assessment to submarket-wide patterns rather than any single block and consider appropriate security, operating practices, and insurance assumptions in the business plan.
Proximity to established corporate employers underpins renter demand through commute convenience and a diversified white-collar employment base. Notable nearby firms include Prudential, JetBlue Airways, Pfizer, Verizon Communications, and Citigroup.
- Prudential — financial services (3.72 miles)
- Jetblue Airways — airline HQ and corporate offices (7.13 miles) — HQ
- Pfizer — pharmaceuticals (8.80 miles) — HQ
- Verizon Communications — telecommunications (8.89 miles)
- Citigroup — banking & financial services (8.94 miles) — HQ
This 47-unit, 2006-vintage asset offers a relative quality advantage versus an area dominated by mid-century stock, helping competitiveness on curb appeal and systems while leaving room for targeted value-add. Renter concentration at the neighborhood level is high, and occupancy has been resilient—conditions that support stable cash flow when paired with disciplined leasing. Elevated ownership costs in the area suggest continued renter reliance on multifamily housing, while dense amenities and access to nearby employers reinforce day-to-day livability.
Within a 3-mile radius, household counts are rising even as overall population is roughly flat, indicating smaller households and a potentially broader renter pool. These dynamics, together with amenity strength and a diversified employment base, point to steady demand. According to CRE market data from WDSuite, neighborhood performance sits above metro median on several housing and amenity indicators, supporting a durable long-term hold thesis with prudent underwriting around affordability and safety.
- Newer 2006 vintage vs. older local stock supports competitive positioning and operational efficiency
- High renter-occupied share and steady neighborhood occupancy support demand depth and cash flow stability
- Amenity-rich Urban Core location with strong daily-needs access and nearby corporate employers
- Ownership costs elevated relative to incomes, reinforcing reliance on rental housing and potential pricing power
- Key risks: below-average safety metrics and rent-to-income pressure; underwrite security, insurance, and leasing assumptions accordingly