| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 87th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4609 11th St, Long Island City, NY, 11101, US |
| Region / Metro | Long Island City |
| Year of Construction | 2013 |
| Units | 59 |
| Transaction Date | 2011-08-04 |
| Transaction Price | $4,675,000 |
| Buyer | 11TH STREET RENTAL LLC |
| Seller | UNID REALTY CORP |
4609 11th St, Long Island City Multifamily
Newer 2013 construction in an Urban Core neighborhood with strong renter concentration and deep amenity access, according to WDSuite s commercial real estate analysis for Long Island City. Neighborhood indicators point to durable renter demand, though investors should underwrite to local occupancy dynamics rather than property-level assumptions.
Long Island City s neighborhood profile rates highly for livability and investor appeal, with an A+ neighborhood rating and strong amenity density (restaurants, cafes, parks, groceries, and pharmacies). These metrics reflect the neighborhood, not the property, and position the area as competitive among New York Jersey City White Plains metro neighborhoods (10th out of 889), based on CRE market data from WDSuite.
The asset s 2013 vintage is newer than the neighborhood s average construction year (1997). For investors, newer vintage can reduce near-term capital expenditure exposure and enhance competitive positioning versus older stock, while still planning for mid-life systems and modernization over the hold period.
Within a 3-mile radius, the renter-occupied share is elevated, supporting a broad tenant base for smaller-format units. Household incomes skew higher and the area functions as a high-cost ownership market; elevated home values tend to reinforce reliance on multifamily rentals, which can support pricing power and lease retention where management executes well.
Neighborhood-level occupancy reads softer than national norms, suggesting investors should underwrite to lease-up pace and concessions risk, particularly amid new supply and competitive Class A offerings. That said, the combination of high amenity access and deep renter pool often supports absorption for well-managed properties.
Safety indicators for the neighborhood track below national medians (lower national percentiles for both violent and property offenses), indicating conditions that require active management focus for multifamily assets. Compared with the metro, the neighborhood ranks 269 out of 889 on overall crime, placing it below the metro median.
Recent trend data shows improvement year over year, with declines in both property and violent offense estimates, according to WDSuite s CRE data. Investors commonly address this profile with security-forward operations, well-lit common areas, and resident engagement to support retention.
Proximity to major employers underpins workforce demand and commute convenience for renters, notably JetBlue Airways, Pfizer, Intl Fcstone, TIAA, and Verizon Communications located within roughly 1.5 miles.
- Jetblue Airways corporate offices (0.69 miles) HQ
- Pfizer corporate offices (1.21 miles) HQ
- Intl Fcstone financial services (1.31 miles) HQ
- TIAA financial services (1.31 miles) HQ
- Verizon Communications telecommunications offices (1.33 miles)
4609 11th St is a 59-unit multifamily asset delivered in 2013, offering newer-vintage positioning in an Urban Core pocket of Long Island City with exceptional amenity density. The surrounding neighborhood shows a high renter-occupied share, supporting a deep tenant base for smaller average unit sizes. Within 3 miles, households and incomes are strong, and forecasts indicate growth in households, which can expand the renter pool and support occupancy stability.
Neighborhood-level occupancy trends appear softer than national benchmarks, so underwriting should account for competitive lease-up conditions and potential concessions. Even so, proximity to major employers and a high-cost ownership landscape can sustain rental demand; according to CRE market data from WDSuite, the area s amenity access and income profile compare favorably versus broader metro and national trends.
- Newer 2013 construction offers competitive positioning and potentially lower near-term capex versus older local stock
- Elevated renter-occupied share within 3 miles indicates depth of tenant demand for multifamily housing
- High-cost ownership market supports pricing power and lease retention for well-managed assets
- Strong nearby employment nodes bolster leasing stability and renewal prospects
- Risk: neighborhood occupancy is softer than national norms; underwrite to lease-up pace, concessions, and competitive Class A supply