■REAL ESTATE BY LIAM LA GUERRE [email protected] I @LiamLaGuerre Photo by Liam La Guerre Mention Manhattan in listings for quickest Queens home sales For many, the 7 train is synonymous with sudden delays and shutdowns, but mentioning A condo at Arris Loft in Long Island City the line in a real estate listing could put the property on the fast track to a sale. Queens homes listed with references of easy access to Manhattan, such as the “7 train,” “minutes away,” and “Midtown Manhattan,” sell quicker than others, according to a report by real estate website StreetEasy.com, indicating that many home buyers prioritize access across the East River. “Getting around easily is top of mind for Queens home buyers,” said StreetEasy data scientist Alan Lightfeldt. “The borough’s larger units, new development buzz and relatively lower sales prices are major draws, but buyers jump at listings that highlight a relatively easy commute to the city.” The firm analyzed thousands of listings to find which word pairs were associated with the fastest selling properties. “Subway lines” and “short walk” were also among the list of words that contributed to the fastest selling properties in Queens. StreetEasy also performed an analysis to find the best months to lists homes in the borough for the quickest turnaround. March is the best time for sellers to list their properties, according to the analysis, which is based on past supply, demand and sales data on StreetEasy.com. Lightfeldt said historically highest demand for properties in New York City is in April, while top supply is in June. He added that listings sell faster before demand and supply peak. “Properties listed before supply and demand both peak are the ones that hit the sweet spot,” Lightfeldt said. “The discount rate is historically low in March as well, meaning the seller may get a greater share of their original asking price if they list now.” Workspace provider opening first Queens location in LIC Workspace provider Regus has signed a 10-year lease for the Falchi Building, indicating the growing need for office space in the burgeoning neighborhood. The firm, which provides work stations, services and support to companies, is leasing more than 34,000 square feet of space at the Long Island City office and retail building at 31-00 47th Ave. Although Regus boasts more than 2,000 locations in 100 countries, its new Long Island City space marks the firm’s first in Queens as the company has realized the potential in the market. More and more companies are willing to move to trendy and growing areas like Long Island City, which has thousands of residential units coming to the neighborhood in the coming years. Also, as the population increases, there will be a need for more office space, particularity for creative small businesses and start-up tech companies, according to experts. A variety of other work space providing companies have popped up in Manhattan recently, making more competition for Regus. The entry in Queens also helps Regus expand its footprint. Regus joins the list of recent companies to move into the Falchi Building, including Doughnut Plant and Russian café Stolle. Photo courtesy of Modern Spaces
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