| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 51st | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2126 Menahan St, Ridgewood, NY, 11385, US |
| Region / Metro | Ridgewood |
| Year of Construction | 1974 |
| Units | 21 |
| Transaction Date | 2004-03-29 |
| Transaction Price | $2,150,000 |
| Buyer | 21-26 MENAHAN STREET LLC |
| Seller | KONSTANTINOVICH ELIZABETH |
2126 Menahan St Ridgewood Multifamily Value-Add Potential
Neighborhood fundamentals point to steady renter demand and amenity depth, according to WDSuite’s CRE market data, supporting an income-focused hold with operational upside. Metrics cited reflect neighborhood conditions, not property performance.
Location and neighborhood standing: The property sits in Ridgewood, Queens, within an Urban Core setting that ranks in the top quartile among 889 New York–Jersey City–White Plains metro neighborhoods. This positioning suggests competitive marketability relative to other city neighborhoods and supports leasing durability for smaller properties.
Amenity access and daily convenience: The neighborhood scores in the very high national percentiles for restaurants, cafes, groceries, parks, and pharmacies. This concentration of daily needs and lifestyle options typically shortens trips for residents and helps retention, particularly for smaller-unit buildings where neighborhood convenience is a key part of the value proposition.
Renter demand and pricing context: Neighborhood occupancy is around the national midrange and the renter-occupied share is elevated (upper national percentiles), indicating a deep tenant base for multifamily. Home values are high for the area, which generally sustains reliance on rental housing and can underpin pricing power. Rent-to-income levels sit near the lower national percentiles, implying some room for lease management without outsized affordability pressure; investors should still monitor rent-to-income trends as conditions evolve.
Demographic dynamics (3-mile radius): Recent years show population and household growth, with forecasts indicating continued population growth and a notable increase in households alongside smaller average household sizes. For investors, this points to a gradually expanding renter pool and potential support for occupancy stability and absorption of renovated units, based on CRE market data from WDSuite.
Vintage and competitive positioning: Built in 1974, the asset is newer than much of the neighborhood’s older housing stock. That positioning can be competitive versus prewar buildings, while still calling for ongoing systems updates and targeted renovations to capture value-add premiums and manage long-term capital needs.
Schools: Average school ratings in the area trend below national midrange. For workforce-oriented assets, this is usually a secondary factor, but it can influence unit mix strategy and marketing to households with school-age children.
Safety metrics for the neighborhood sit below national medians, but both violent and property offense rates have improved year over year. Recent data show a meaningful decline in violent incidents and a double-digit reduction in property offenses, which is directionally supportive for leasing and renewal discussions.
Investors should frame safety as a neighborhood-level consideration that can vary block by block and over time. Monitoring trend lines, local enforcement initiatives, and property-level measures (lighting, access control) can help sustain tenant retention even where broader statistics are mixed. National comparisons indicate room for continued improvement, and the recent downward trend is a constructive signal.
Proximity to major employers in aviation, insurance, pharmaceuticals, and telecommunications supports a broad commuter tenant base and can aid retention through commute convenience. Nearby anchors include JetBlue, Prudential, New York Life, Pfizer, and Verizon.
- Jetblue Airways — airlines (3.3 miles) — HQ
- Prudential — insurance (4.0 miles)
- New York Life Insurance Company — insurance (4.5 miles)
- Pfizer — pharmaceuticals (4.5 miles) — HQ
- Verizon Communications — telecommunications (4.5 miles)
2126 Menahan St offers a small-scale, infill position in a top-quartile NYC metro neighborhood with exceptional amenity access and high renter concentration, supporting depth of tenant demand. Built in 1974, the property is newer than much of the surrounding stock, providing a platform for targeted renovations and systems upgrades to drive value-add returns while competing effectively with older buildings.
Household and population growth within a 3-mile radius, alongside a high-cost ownership market, reinforce reliance on rental options and support occupancy stability. Neighborhood safety metrics are below national medians but trending better year over year; paired with lease management and property-level improvements, this backdrop can sustain renewals and pricing discipline, according to CRE market data from WDSuite.
- Infill Urban Core location with top-quartile metro standing and strong amenity density that supports retention
- High neighborhood renter-occupied share indicates a deep tenant base for smaller units
- 1974 vintage offers value-add potential via unit and systems modernization relative to older area stock
- Household growth within 3 miles and a high-cost ownership market underpin demand for rentals and occupancy stability
- Risks: safety metrics below national medians and lower school ratings; plan capex and operations to mitigate