Any recommendations where to find the latest avg multi family cap rates in Long Island Suffolk County, NY?
Hi guys,

I am looking for some advice on any resources you would recommend to get the latest average cap rates for multi family in Long Island, specifically Suffolk County, NY. If city/zip level is possible please let me know.

Thanks!
[{"id": "hqbbskf", "text": "Got any local commercial appraiser friends in the area? Commercial banking contacts? CRE Brokers?", "replies": [{"id": "hqbjp6a", "text": "Definitely have some contacts I can leverage. Was just curious if there were any helpful websites that might aggregate this data. Thank you though I will reach out to some local contacts", "replies": [{"id": "hqbm1wd", "text": "https://apartmentpropertyvaluation.com/cap-rate/new-york/\n\nWould this help?", "replies": [{"id": "hqcb0ti", "text": "Thanks!", "replies": [], "depth": 4}], "depth": 3}, {"id": "hqbm6nr", "text": "CoStar could likely provide it but that will cost you $$", "replies": [{"id": "hqbmixk", "text": "I know\u2026 what is it now, $500 per month? They don\u2019t have a 30 day free trial available right?", "replies": [{"id": "hqbn4tz", "text": "Not sure, would be nice if you could pay a small cost for a zip code specific search. I\u2019m not sure how reliable the data (just a cap rate) is in any event without the corresponding metrics that go into it for each property.", "replies": [{"id": "hqbwllh", "text": "I could look it up on costar for you if it\u2019s a single search and you just want avg cap rate", "replies": [{"id": "hqcb02o", "text": "That would be awesome I\u2019m looking in the 11796 zip code area", "replies": [{"id": "hqchqy1", "text": "It\u2019s not as easy for me to quickly drill down to zip code but Eastern Suffolk county has a current sub market and market cap rate of 4.5% for multifamily right now. Eastern Suffolk 4 and 5 stars has a projection of 4.69% for Q1 and the sub market has a projection of 4.52%. Hope that helps", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hqbbw4k", "text": "If you use CoStar you can generate a market report that includes that", "replies": [{"id": "hqbjv1a", "text": "Thanks. I\u2019ll look into costar.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hqbolnk", "text": "4 to 5 cap range. Good luck!", "replies": [], "depth": 1}, {"id": "hqc48nv", "text": "Costar is always a solid resource. Cap rates will mostly be subjective to the size/quality of the property. I can provide some real life transactions that our firm has done in Suffolk if you\u2019re interested shoot me a pm!", "replies": [{"id": "hqcb31j", "text": "That would be great I\u2019ll shoot you a pm", "replies": [], "depth": 2}, {"id": "hqcxdag", "text": "They\u2019re also subjective to your underwrite. One mans 5 cap is another\u2019s 4 cap. I don\u2019t UW NY deals, but how do RE taxes reassess upon sale? Could be a 5 cap on the T3 actual, but really a mid 3 tax adjusted", "replies": [{"id": "hqcyj2x", "text": "Completely agree. I always see different UW for vacancy, mgmt, reserves and so on. In the jurisdictions I am familiar with they do not reassess on the sale. RE taxes do play a tremendous factor as they are extremely high on Long Island, more so in Nassau County.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hqc7eg5", "text": "[https://mapping.cbre.com/maps/USCapRate/H12021/](https://mapping.cbre.com/maps/USCapRate/H12021/)\n\nFor more precise data you'll need CoStar I think...", "replies": [], "depth": 1}, {"id": "hqck3g5", "text": "CoStar", "replies": [], "depth": 1}, {"id": "hqcw6qk", "text": "What is the size and class of the deal? Regardless it\u2019s safe to assume costars cap rates are 100bps over what deals are actually trading at in this market.", "replies": [], "depth": 1}]