- Off Market
- Posts
- 🚀 Astoria, Queens Sees Luxury Growth
🚀 Astoria, Queens Sees Luxury Growth
Sponsored by
📈 Data Point
Residential Real Estate Market to Grow at 2.04% CAGR
According to Cushman & Wakefield, U.S. multifamily investments totaled $34.5 billion in Q1 2024, down 25% year-over-year. However, the sector remains a top choice for investors, with stable fundamentals and rising demand in suburban areas. Yields are holding steady, and long-term outlooks suggest confidence in multifamily as a defensive asset class.
🧭 Market Watch
Astoria, Queens Sees Luxury Growth
Alpha Realty has listed a newly built luxury multifamily elevator building in Astoria, Queens, for $17 million. The 23-33 Astoria Boulevard project includes high-end units with strong rental appeal. Astoria continues to attract developers and investors due to its connectivity to Manhattan, growing demand for premium rentals, and solid long-term value.
Looking for unbiased, fact-based news? Join 1440 today.
Join over 4 million Americans who start their day with 1440 – your daily digest for unbiased, fact-centric news. From politics to sports, we cover it all by analyzing over 100 sources. Our concise, 5-minute read lands in your inbox each morning at no cost. Experience news without the noise; let 1440 help you make up your own mind. Sign up now and invite your friends and family to be part of the informed.
🧾 Rule of the Day
Loss to Lease
Loss to Lease is the difference between the current market rent and the rent actually being charged under existing leases. It shows how much income is being missed because leases are below market rates.
Formula: (Market Rent – Actual Rent) × Number of Units
This metric is useful for identifying upside potential in a property’s rental income during renewal cycles.
🌱 Green Build
Nanomaterial Coatings Could Cut HVAC Energy Use
A study published in Nano Letters details how radiative cooling coatings made from nanomaterials could reduce HVAC energy consumption in buildings. These coatings reflect sunlight and release infrared heat, helping maintain cooler indoor temperatures without electricity. Researchers say this innovation could play a role in making residential buildings more energy-efficient in hot climates. Know more.
🏘 Deal Radar
Milwaukee, WI This is a 120-unit multifamily property spread across four buildings in the Near West Side neighborhood of Milwaukee. All four buildings are within a half mile radius. | Miami Beach, FL These are two multifamily properties located just one block from the beach, and overlooking the Indian Creek. This strategic location makes it an excellent investment. | Abilene, TX Located less than five miles from the Stargate project and a few minutes from I-20 and US-83, this property has 105 units. Its average occupancy rate is 90%. |
Showcase your brand/product/services in our newsletter to thousands of leaders in the restaurant industry! Contact us today to advertise with Off Market.
Disclosure: Some content in this newsletter may be sponsored or include affiliate links. Off Market might earn commissions or have a business interest in featured companies. Nothing in this newsletter is investment advice. Read our privacy policy.