real estate 32 I BOROMAG.COM I NOVEMBER 2015 uxury and convenience are within reach. The Craigslist ad for a completely renovated apartment in Astoria said so. The unit was just steps from the N/Q subway stop, had a laundry room and was situated on a quiet block off of Ditmars Boulevard. Yet the primary selling point that drove Jennifer, a claims agent for a Manhattan insurance agency, to request a viewing was the price—$1400. But after contacting the broker, Jennifer was told that the ad had incorrectly listed the rent, which was in fact $1,900, and that the landlord required a security deposit as well as first and last month’s rent. This was in addition to the broker’s fee, which meant that Jennifer, who spent the past two years sharing a small apartment in Woodside with several roommates, would need to produce a whopping $7,600 to live on her own. “I was totally appalled, not just because the ad was wrong, but the price was insane,” she said. “Who has that kind of cash laying around?” For Jennifer and many other urbanites seeking housing in some of Queens’ most trendy neighborhoods, including Astoria, Sunnyside and Long Island City, luxury and convenience are not merely out of reach. They are simply unfeasible. Over the past decade, rents have drastically increased in many areas of Queens as the demand for apartments in close proximity to Manhattan has proliferated. According to 2012 data compiled by The Daily News, the average rent for a one-bedroom apartment was $1,600 in Astoria and $2,400 in Long Island City. Supply and Demand Story by Thomas Caramanno L
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