| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 46th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 223 Beach 101st St, Rockaway Park, NY, 11694, US |
| Region / Metro | Rockaway Park |
| Year of Construction | 2012 |
| Units | 32 |
| Transaction Date | 2011-08-01 |
| Transaction Price | $475,000 |
| Buyer | 2-23 BEACH STREET LLC |
| Seller | 2-23 BEACH 101 LLC |
223 Beach 101st St, Rockaway Park Multifamily Investment
2012 vintage, 32-unit asset positioned in an Urban Core neighborhood with a high renter concentration and steady neighborhood occupancy, according to WDSuite’s CRE market data. Newer construction relative to local stock supports competitive positioning and potential operational efficiency.
The property sits in an A- rated Urban Core neighborhood that is top quartile among 889 metro neighborhoods, based on WDSuite’s market view. Neighborhood occupancy is in the low-90% range and has held broadly stable in recent years, indicating resilient renter demand at the submarket level rather than at the property level.
Local livability is reinforced by strong amenity access: restaurants, cafes, groceries, pharmacies, and parks all score in high national percentiles, supporting day-to-day convenience and lifestyle leasing. Average school ratings in the neighborhood trail national norms, which may be a consideration for family-oriented renters and lease management.
Construction patterns skew older across the neighborhood (early-1990s average), while the subject s 2012 vintage is newer, which can help on competitiveness versus older stock. Investors should still plan for routine system updates typical of assets entering their second decade.
Within a 3-mile radius, population and households have expanded over the last five years, and forecasts point to a larger number of households alongside smaller average household sizes. That mix can translate into a broader tenant base and support for occupancy stability, even as overall population growth moderates. Elevated home values locally (high national percentile) suggest a high-cost ownership market, which tends to reinforce reliance on multifamily rentals and can aid pricing power and lease retention.
Tenure dynamics are favorable for multifamily: the neighborhood s share of renter-occupied housing is high, providing depth in the tenant pool. Rent levels have risen over the past five years, and rent-to-income readings point to manageable affordability pressure, an important consideration for renewal strategy and disciplined rent setting.
Safety indicators for the neighborhood trend below national averages, with national percentiles indicating higher relative incidence versus U.S. neighborhoods overall. However, recent year-over-year estimates show double-digit declines in both property and violent offenses, suggesting improving momentum. As always, investors should underwrite with block-level diligence and compare against peer submarkets across the New York-Jersey City-White Plains metro.
Nearby white-collar employment anchors include financial services, credit ratings and information providers, beverages, and insurance, supporting renter demand through diverse professional job bases and reasonable commutes.
- Prudential financial services (5.9 miles)
- Dr Pepper Snapple Group beverages (12.2 miles)
- AIG insurance (12.8 miles) HQ
- S&P Global financial information (12.8 miles) HQ
- Guardian Life Insurance Company of America insurance (12.8 miles) HQ
This 2012-built, 32-unit property offers a newer vintage relative to the neighborhood s early-1990s average, positioning it well against older comparables while still warranting routine system upgrades over the hold. Neighborhood occupancy remains steady and renter concentration is high, supporting demand durability; according to CRE market data from WDSuite, local amenity access is a strength while school ratings sit below national norms.
Within a 3-mile radius, households have grown and are projected to increase further as average household sizes shrink, which can expand the renter pool and help leasing velocity. Elevated home values in the area point to a high-cost ownership market that typically sustains multifamily demand, while rent-to-income levels suggest room for disciplined rent growth management and retention-focused strategies.
- Newer 2012 vintage versus neighborhood average, supporting competitive positioning and moderated near-term capital needs.
- Stable neighborhood occupancy and high renter-occupied share point to a deep tenant base and potential lease retention.
- Strong amenity access (food, parks, services) aligns with renter preferences and can aid rentability.
- 3-mile household growth and smaller household sizes indicate renter pool expansion that can support occupancy stability.
- Risks: neighborhood safety metrics are below national norms, school ratings are weaker, and longer-run population growth is mixed—underwrite leasing and expense assumptions accordingly.