| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 66th | Good |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8403 Cuthbert Rd, Kew Gardens, NY, 11415, US |
| Region / Metro | Kew Gardens |
| Year of Construction | 2006 |
| Units | 22 |
| Transaction Date | 1999-12-20 |
| Transaction Price | $450,000 |
| Buyer | ANTON DEVELOPERS OF FOREST HILLS INC |
| Seller | KORNITZER JOHN C |
8403 Cuthbert Rd Kew Gardens Multifamily Investment
Demand is supported by an Urban Core setting with strong neighborhood amenities and above-median occupancy, according to WDSuite’s CRE market data. Investors should expect stable renter interest reinforced by a high-cost ownership market in Queens.
Kew Gardens scores an A neighborhood rating and ranks 78 out of 889 metro neighborhoods, placing it among the stronger locations in the New York–Jersey City–White Plains metro. Amenity access is a clear differentiator: grocery, pharmacy, parks, cafés, and restaurants all sit in high national percentiles, which generally supports resident retention and leasing velocity for workforce and professional renters.
Local housing dynamics are favorable for rentals. Neighborhood occupancy is above the national median and has trended modestly higher over the past five years, supporting income stability. Within a 3‑mile radius, just over half of housing units are renter‑occupied, indicating a deep tenant base that can backfill turnover and help sustain stabilized operations.
Demographics within a 3‑mile radius point to a resilient renter pool: households have increased recently and are projected to rise further even as average household size edges lower. That combination typically expands the addressable renter base and supports occupancy, a view consistent with commercial real estate analysis drawn from WDSuite.
Ownership costs are elevated relative to incomes at the neighborhood level, with home values well above national norms. In practice, a high‑cost ownership market tends to reinforce reliance on multifamily housing, supporting pricing power and lease retention for well‑located properties.
The property’s 2007 vintage is newer than the neighborhood’s older housing stock (average vintage mid‑century). Newer construction can be competitively positioned versus pre‑war and mid‑century buildings, though investors should still plan for systems modernization and selective renovations as the asset approaches its next lifecycle interval.
Relative to the metro, the neighborhood’s crime rank sits in the better tier (306 out of 889 metro neighborhoods), while its national positioning is below average (around the 35th percentile nationwide). Recent trend data from WDSuite shows year‑over‑year declines in both violent and property offenses, which is constructive for long‑term operations, though underwriting should still account for security measures and potential insurance cost variability.
Proximity to diversified corporate employment supports commuter convenience and renter demand, with concentrations in insurance, aviation, pharmaceuticals, defense, and telecommunications.
- Prudential — insurance (3.0 miles)
- Jetblue Airways — airline headquarters (6.4 miles) — HQ
- Pfizer — pharmaceuticals (8.0 miles) — HQ
- Lockheed Martin — defense & aerospace offices (8.1 miles)
- Verizon Communications — telecommunications (8.1 miles)
This 22‑unit, 2007‑built asset benefits from a high‑amenity Urban Core location where occupancy in the neighborhood is above national medians and renter concentration is solid within the surrounding 3‑mile radius. The vintage is newer than the area’s predominantly mid‑century stock, offering competitive positioning versus older walk‑ups while leaving room for targeted upgrades and systems planning typical for a mid‑2000s building. Based on CRE market data from WDSuite, elevated home values relative to incomes in Queens reinforce sustained reliance on rentals, supporting steady absorption and lease retention for well‑maintained properties.
Forward‑looking demographics in the 3‑mile area indicate rising households alongside smaller average household size, which often expands the renter pool and supports occupancy stability. Taken together, location fundamentals, diversified employment access, and the property’s more modern construction suggest durable demand with manageable operational risk.
- Urban Core location with high amenity access supporting retention and leasing
- Newer 2007 construction offers competitive position versus older neighborhood stock
- Elevated ownership costs in Queens reinforce renter reliance and pricing power
- 3‑mile area shows household growth and smaller sizes, expanding the renter base
- Risks: below‑average national safety positioning; mid‑2000s systems may require modernization