| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 68th | Good |
| Amenities | 80th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9511 64th Rd, Rego Park, NY, 11374, US |
| Region / Metro | Rego Park |
| Year of Construction | 1993 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9511 64th Rd Rego Park Multifamily Demand Driver
Neighborhood renter concentration and amenity access support stable leasing conditions, according to WDSuite’s commercial real estate analysis. Strength in local services and schools points to durable demand rather than short-term momentum.
Rego Park’s Urban Core setting delivers everyday convenience that tends to support multifamily occupancy. Amenity access tests above the metro median among 889 New York–Jersey City–White Plains neighborhoods, with dense grocery, pharmacy, and dining options that reduce friction for residents and help with retention. Average school ratings trend solidly above national midpoints, adding to family appeal and broadening the tenant base.
Construction in the immediate area skews older (mid‑20th century average), making a 1994 asset relatively competitive versus much of the local stock; investors should still account for modernization of systems and common areas as part of long-run planning. Neighborhood renter-occupied share is high, indicating a deep tenant pool and consistent leasing velocity for well-managed product.
Within a 3‑mile radius, population and household counts have grown and are projected to continue expanding by 2028, pointing to a larger tenant base over time. Rising median incomes in the same 3‑mile catchment suggest capacity for renters to absorb quality upgrades, while still requiring prudent pricing to maintain lease retention.
Home values in the neighborhood are elevated relative to incomes, reinforcing reliance on multifamily housing and supporting demand durability. Neighborhood occupancy trends sit in the low‑90s, which, based on CRE market data from WDSuite, aligns with steady leasing conditions and limited downtime for competitively positioned units.
Safety indicators for the neighborhood track below national averages, and performance is not among the stronger cohorts within the New York–Jersey City–White Plains metro. However, recent data show a year‑over‑year decline in property offenses, which is a constructive sign within the broader trend. Investors typically address this context through enhanced onsite management, lighting, access controls, and resident engagement to support leasing and retention.
In comparative terms, the area is not top quartile nationally on safety, but the downward movement in property offenses over the last year suggests some stabilization. Positioning the asset with professional operations and clear resident policies can help mitigate risk relative to peer submarkets.
Proximity to diversified employers supports commuter convenience and a broad renter base, with notable representation in airlines, insurance, pharmaceuticals, retirement services, and aerospace within a short radius.
- Prudential — insurance (4.3 miles)
- JetBlue Airways — airline HQ and operations (4.4 miles) — HQ
- Pfizer — pharmaceuticals (6.0 miles) — HQ
- Lockheed Martin — defense & aerospace offices (6.1 miles)
- TIAA — retirement & financial services (6.1 miles) — HQ
This 32‑unit property at 9511 64th Rd was built in 1994, a relative advantage in a neighborhood where much of the housing stock predates it. That vintage can reduce near‑term competitive pressure versus older assets while still offering value‑add potential through targeted renovations and energy/system upgrades. Elevated local home values indicate a high‑cost ownership market, which tends to sustain renter demand and support occupancy stability.
According to CRE market data from WDSuite, the neighborhood posts steady occupancy in the low‑90s and a high share of renter‑occupied units, pointing to depth in the tenant pool. Within a 3‑mile radius, population and household growth trends, alongside rising incomes, suggest a gradually expanding renter base. Pricing should account for rent‑to‑income sensitivity to protect retention, and operations should be calibrated to neighborhood safety dynamics.
- 1994 vintage offers competitive positioning versus older local stock with clear value‑add pathways
- High home values reinforce renter reliance on multifamily, supporting demand durability
- Steady neighborhood occupancy and strong renter concentration indicate a deep tenant base
- Diverse nearby employers underpin commuter demand and retention
- Risks: rent‑to‑income pressures and below‑average safety require disciplined pricing and professional management