REAL ESTATE
LIC among city’s 10 ‘hottest’ neighborhoods in report
BY ANGELA MATUA
amatua@qns.com / @AngelaMatua
Real estate website PropertyShark surveyed
Sales in Queens HOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
BAYSIDE JACKSON HEIGHTS JAMAICA ESTATES WOODHAVEN
Under $500,000
242-35 61st Ave., Douglaston
$299,000
Co-op
2 bedrooms, 1 bathroom
Stephanie Belanich, Maxine Conlin
Keller Williams Rlty Landmark
$500,000-$900,000
171-37 Bagley Ave., Flushing
$650,000
1-family colonial
4 bedrooms, 2 bathroom
William Salgado
El Dorado Realty
Over $900,000
37-01 223rd St., Bayside
$3,798,000
1-family Colonial
5 bedrooms, 5 bathrooms
Kwang Mi Jung
Promise Realty LLC
Under $500,000
32-42 89th St., East Elmhurst
$179,000
Co-op
1 bedroom, 1 bathroom
Martin Dabao
Realty Executives Today
$500,000-$900,000
30-19 88 St., Jackson Heights
$798,000
1-family Tudor
3 bedroom, 4 bathrooms
Ximena Ibarra
RE/MAX Team
Over $900,000
40-21 73rd St., Woodside
$3,980,000
2-family colonial
4 bedrooms, 2 bathrooms
Angsavanee Touthong, Siripha Chariton
AA Realty First Inc
Under $500,000
202-35 Foothill Ave., Hollis
$148,000
Co-op
1 bedroom, 1 bathroom
Vered Perlman, Linda Hodes
P Lydon Corp
$500,000-$900,000
102-04 216th St., Queens Village
$505,000
1-family colonial
2 bedrooms, 2 bathroom
Hsin Kuei Liu
Chase Global Realty Corp
Over $900,000
181-51 Aberdeen Rd., Jamaica Estates
$1,950,000
1-family Tudor
5 bedrooms, 5 bathrooms
Solomon Davydov
Exit Realty First Choice
Under $500,000
151-25 88th St., Howard Beach
$229,000
Co-op
2 bedrooms, 2 bathrooms
Th omas LaVecchia
Howard Beach Realty Inc
$500,000-$900,000
88-39 74 Pl., Woodhaven
$548,000
1-family colonial
3 bedrooms, 2 bathroom
Kiu Chang
Exit Kingdom Realty
Over $900,000
87-01 97th Ave., Ozone Park
$1,200,000
2-family two-story
6 bedrooms, 5 bathrooms
Narindra Ninah
Star Global Realty Inc
industry professionals to gauge
what neighborhoods would be considered
“hot” this year and Long Island City
made the list.
The survey, which ran on
PropertyShark’s website for one month,
was taken by 132 residential brokers,
investors and appraisers. Long Island City
was the only Queens neighborhood to
make the list and ranked number seven,
the same ranking as last year. Astoria,
which ranked eighth in last year’s list, did
not make the cut this time.
In the survey, seven percent of respondents
identifi ed Long Island City as one
of the top 10 hottest neighborhoods.
Th e median sales price for homes in the
neighborhood in 2017 was $435,000, a
drastic decrease from the 2016 median
sales price — $825,000.
Th e survey also asked professionals if
they thought the L train shutdown would
spur Williamsburg residents to move
away. Many said yes, with 54 percent of
respondents saying the top alternatives
for renters would be Bed-Stuy, Brooklyn
Heights, Long Island City, Park Slope and
Jamaica.
A majority of respondents — 70 percent
— also agreed that buying a home
will still beat renting in 2018. Th e year
is also considered a buyer’s market rather
than a seller’s market, according to the
majority of respondents. In the survey, 57
percent of real estate professionals said
the market favors buyers this year because
of an increased supply of new inventory.
“I think 2018 will see a lot of new development
inventory in presales in NYC and
Brooklyn,” said Zen Avery from Niche
Real Estate. “With many new developments
seeing closings end of 2017 into
the new year of 2018 I think developers
are going to have to compete with almost
brand-new product ready to move in on
the market. It should create a price leveling
or better back-end concessions for
buyers.”
To read the full survey, visit propertyshark.
com.
Photo courtesy of Flickr/Gabe Shore
Real estate professionals identifi ed Long Island City as one of the top 10 hottest neighborhoods
for 2018.