A Rent Evaluation of Western Queens BY Austin Christopher Bradley 46 | BOROMAG.COM | JULY 2014 REA L ESTATE Almost anyone can, and will, tell you that finding a home in Manhattan has become ridiculous. From sketchy brokers, to the infamous bait-and-switch game, to high rents, and low expectations, New Yorkers have been gradually coming to terms with the fact that living in Manhattan just might not be in the cards for them. The outer boroughs have become the city hot spots, and incomers and locals alike are fleeing to the lower rents that they offer. Due to the high population and low inventory of Manhattan’s rental market, Queens has become the second most sought after borough for living, just behind Brooklyn. Most neighborhoods in Queens offer easy access to transportation via buses and subways, a thriving nightlife, and neighborhood characteristics that many Manhattan neighborhoods are lacking. As humans of New York, we are inherently on a constant search for a deal. We want the best cup of coffee for the lowest price. We want the BIGGEST sandwich—for the lowest price. Most importantly, we want the most space for the lowest price. We dug deep and researched hard to find the numbers needed to make an educated decision on getting the best value for a new apartment in Western Queens. Here is a breakdown of the present costs of our five nearest neighborhoods. 5. Long Island City Long Island City offers great views and a quiet city life that cannot be experienced much anywhere in the city. The neighborhood has a limited assortment of types of apartments, being that the majority available offer highend luxury living. Price Per Square Foot: - Neighborhood Average: $44 - Studio: $52 - 1 Bedroom: $45 - 2 Bedroom: $41 Square Footage: - Neighborhood Average: 740 - Studio: 521 - 1 Bedroom: 700 - 2 Bedroom: 1,084 Average Rent: - Neighborhood Average: $2,720 - Studio: $2,640 - 1 Bedroom: $2,835 - 2 Bedroom: $3,697 4. ASTOR IA Astoria has quickly become known as a neighborhood of incredible and diverse food offerings. This neighborhood is most definitely a melting pot of age demographics and cultural backgrounds. Price Per Square Foot: - Neighborhood Average: $35 - Studio: $35 - 1 Bedroom: $34 - 2 Bedroom: $36 Square Footage: - Neighborhood Average: 750 - Studio: 550 - 1 Bedroom: 680 - 2 Bedroom: 850 Average Rent: - Neighborhood Average: $2,200 - Studio: $1,700 - 1 Bedroom: $1,950 - 2 Bedroom: $2,350 3. SUNNYS IDE Sunnyside is another neighborhood that can be described as quiet. The area has betterthan average school rankings, and sits just a 20 minute ride on the 7 train from Times Square. Even though it is light on the restaurant and nightlife side of things, it is a quick commute to Astoria where you can find top notch grub. Price Per Square Foot: - Neighborhood Average: $32 - Studio: $38
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