| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | - | - |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 65 Maspeth Ave, Maspeth, NY, 11378, US |
| Region / Metro | Maspeth |
| Year of Construction | 2004 |
| Units | 23 |
| Transaction Date | 2010-12-01 |
| Transaction Price | $6,500,000 |
| Buyer | Lordan Maspeth LLC |
| Seller | 65 Maspeth Avenue LLC |
65 Maspeth Ave, Maspeth NY Multifamily Investment
2004 vintage, 23-unit asset positioned in Queens Urban Core with a deep renter base within 3 miles; according to WDSuite s CRE market data, neighborhood retail and dining density support steady renter demand.
Maspeth sits within New York Jersey City White Plains NY NJ s Urban Core, offering proximity to employment and transit connections across Queens and Brooklyn. Neighborhood-level amenities skew toward food-and-beverage: cafe density and restaurants are both in the top decile nationally, while groceries are abundant relative to many U.S. neighborhoods. These metrics describe the neighborhood context, not the property s on-site services.
By contrast, childcare, parks, and pharmacies register limited presence in the immediate neighborhood dataset, so residents may rely on adjacent districts for those needs. For investors, that mix points to convenience for working-age renters and service workers, with some family-oriented amenities located just outside the neighborhood boundary.
The average construction year across the neighborhood skews older (1960s era), while this property s 2004 delivery positions it competitively versus much of the local stock. That vintage can temper near-term capital expenditure, though investors should still plan for system updates and common-area modernization over a typical hold.
Within a 3-mile radius, demographics indicate a large renter base (roughly three-quarters of housing units are renter-occupied) and recent population growth, with households expanding and household size trending lower. This combination supports a broader tenant pool and can aid occupancy stability and lease-up, based on CRE market data from WDSuite. Neighborhood NOI per unit also ranks in the top decile nationally, signaling competitive income performance among peer neighborhoods; this is a neighborhood-level indicator, not a guarantee for the asset.
Comparable neighborhood safety benchmarks are not available in this dataset. Investors typically evaluate reported trends at the neighborhood and borough levels and compare them with metro-wide patterns to gauge operating risk and retention potential. Local due diligence including recent incident trends and property-level security measures is recommended before underwriting.
Nearby corporate offices anchor a diverse employment base that supports renter demand and commute convenience for residents, including JetBlue Airways, Pfizer, Verizon Communications, New York Life Insurance Company, and L-3 Communications.
- JetBlue Airways airlines (2.3 miles) HQ
- Pfizer pharmaceuticals (3.7 miles) HQ
- Verizon Communications telecom (3.7 miles)
- New York Life Insurance Company insurance (3.7 miles)
- L-3 Communications defense & aerospace offices (3.8 miles) HQ
This 23-unit, 2004-built property offers relative competitive positioning versus older neighborhood stock and is surrounded by strong renter fundamentals. Within a 3-mile radius, a large share of renter-occupied housing, recent population growth, and an expanding household count point to a broadening tenant base and support for occupancy. Amenity density is strongest in dining and grocery access, and multiple nearby corporate offices deepen the local employment pool. According to CRE market data from WDSuite, the neighborhood s NOI per unit sits in the top decile nationally, underscoring income potential at the submarket level.
Key considerations include planning for mid-life building systems and targeted common-area updates typical for early-2000s assets, as well as the need to underwrite operating practices suited to an Urban Core location. Family-oriented amenities are thinner within the immediate neighborhood boundary, so positioning and marketing should align with the area s workforce and commuter profile.
- 2004 vintage offers relative capex efficiency versus older local stock, with scope for modernization to enhance competitiveness.
- Large, growing renter pool within 3 miles supports tenant demand and occupancy stability.
- Strong dining and grocery density and proximity to major employers bolster leasing and retention.
- Neighborhood NOI per unit is top decile nationally per WDSuite, indicating favorable income performance among peers.
- Risks: mid-life systems/capex planning and thinner family amenities within the immediate neighborhood boundary.