| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 84th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6511 Booth St, Rego Park, NY, 11374, US |
| Region / Metro | Rego Park |
| Year of Construction | 2009 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6511 Booth St, Rego Park Multifamily Investment
Urban-core renter demand and amenity density support stable leasing in Rego Park, according to WDSuite’s CRE market data. Newer vintage relative to the neighborhood points to competitive positioning with manageable modernization planning.
Rego Park’s Urban Core location delivers dense everyday conveniences and transit access that typically underpin leasing durability. Amenity access ranks in the top quartile among 889 New York–Jersey City–White Plains metro neighborhoods, with groceries, parks, pharmacies, and cafes all scoring at or near the top percentiles nationally. This concentration of services helps support resident retention and day-to-day livability for multifamily renters.
The neighborhood’s renter-occupied share is elevated, indicating a deep tenant base and steady renewal prospects for multifamily assets. Neighborhood occupancy trends are above national medians, and home values sit in higher national percentiles, signaling a high-cost ownership market that tends to sustain reliance on rental housing rather than competing directly with ownership.
Property vintage matters here: the average neighborhood construction year skews older (late 1960s), while 6511 Booth St was built in 2009. The newer delivery enhances competitive positioning against older stock and may reduce near-term capital exposure, though investors should still plan for targeted system updates and common-area refreshes as the asset approaches mid-life.
Within a 3-mile radius, demographics point to a large population base with modest population growth recently and a projected increase in households alongside slightly smaller average household size. This pattern typically expands the renter pool and supports occupancy stability for well-located, professionally managed buildings. Median contract rents in the surrounding area are rising, per WDSuite’s commercial real estate analysis, reinforcing the importance of affordability management to balance pricing power with renewal rates.
Safety conditions should be evaluated as part of underwriting. The neighborhood’s crime rank sits near the middle of the pack (ranked 478 out of 889 metro neighborhoods), while national comparisons indicate below-average safety, with property and violent offense rates positioned in lower national percentiles. Investors should incorporate prudent security measures and leasing practices typical for dense urban submarkets and monitor trend direction as part of ongoing asset management.
Proximity to established employers supports commuter convenience and renter retention, with a concentration in airlines, finance, healthcare, and aerospace that aligns with Queens and Manhattan job centers. The list below highlights nearby anchors relevant to workforce housing demand.
- Prudential — financial services (4.2 miles)
- Jetblue Airways — airline operations (4.5 miles) — HQ
- Pfi 7fer — pharmaceuticals (6.1 miles) — HQ
- Lockheed Martin — defense & aerospace offices (6.2 miles)
- TIAA — financial services (6.2 miles) — HQ
6511 Booth St is a 25-unit multifamily property delivered in 2009, a newer vintage than most nearby buildings. That positioning can enhance leasing competitiveness versus older stock while keeping near-term capital items more focused on targeted updates rather than full-scale renovations. The neighborhood shows strong amenity density, above-average occupancy, and a renter-leaning housing mix, all of which typically support tenant demand and renewal stability. Elevated ownership costs locally further reinforce reliance on rental housing, supporting long-run absorption.
Within a 3-mile radius, WDSuite’s CRE market data indicates a large population base, recent growth in households, and a forecast for continued household expansion alongside slightly smaller household sizes—factors that usually expand the renter pool. Rent levels have trended upward, so asset strategy should balance pricing power with rent-to-income considerations to sustain retention. Overall, the asset’s urban-core location, commuter access, and newer construction create a durable, income-focused thesis with measured attention to operating risk.
- Newer 2009 vintage versus older neighborhood stock supports competitive positioning and moderated near-term capex.
- Strong amenity density and above-average neighborhood occupancy underpin leasing stability and renewal potential.
- High-cost ownership market supports sustained renter demand and depth of tenant base.
- 3-mile demographic trends point to a larger renter pool as households increase and average household size edges down.
- Risks: below-national safety percentiles typical of dense urban submarkets, lower NOI per unit vs. national averages, and affordability pressure requiring disciplined lease management.