66 THE QUEENS COURIER • REAL ESTATE • MAY 14, 2015 FOR BREAKING NEWS VISIT www.queenscourier.com real estate Rendering courtesy Dattner Architects The fi rst building in the Hallets Point project will consist of two 20-story structures emerging from a podium. Rendering courtesy of Modern Spaces A rendering of The Grove at 30-40 21st St. Where recent college grads can afford rent in Queens BY LIAM LA GUERRE [email protected]/@LiamLaGuerre For recent college graduates, living in New York City while juggling student loans and living expenses can seem almost impossible. Add in the need for fun and entertainment, and most won’t have a dime remaining from their paychecks. However, a new study released on May 13 by real estate website StreetEasy shows, through an interactive map, in what neighborhoods recent graduates will be able to fi nd affordable apartments as they begin a life of independence in the Big Apple. Some areas in the “World’s Borough” have been pointed out as leading contenders. “One of our top tips for recent grads moving to NYC is to look outside of Manhattan, and our study shows that several neighborhoods in Queens are especially ‘grad-friendly,’” a StreetEasy representative said. Astoria and Ridgewood top the list of those Queens neighborhoods, but affordable apartments can be found in many neighborhoods throughout the borough including Kew Gardens, Corona, Elmhurst, Jackson Heights, Rego Park and Flushing. The map reveals the availability of affordable apartments in city based on three variables. It uses the average entry-level salaries for the top 10 majors of recent grads moving to the NYC, including business, social sciences, education and engineering, the percent of income one is willing to pay toward rent and the possibility of roommates. The study found what many have known for decades — paying NYC rents is actually possible when roommates are included. However, the report also notes, it is possible to fl y solo in the city and spend only 30 percent of income, but graduates will have to do serious apartment hunting. It would also help, if only slightly, not to be an education major. Zero percent of studio and one-bedroom listings are affordable to solo education majors that want to use 30 percent of income for rent, according to the study, whereas only 2.7 percent and 5.1 percent were available for social science and business majors respectively. New rendering and details for Durst Organization’s Hallets Point residential project BY LIAM LA GUERRE [email protected] @liamlaguerre Renderings and details for the fi rst building of the Durst Organization’s Hallets Point development project in Astoria were revealed. The structure will consist of two 20-story structures emerging from a podium, as fi rst reported by New York YIMBY. The Dattner Architectsdesigned buildings will feature views of the waterfront and a large-scale rooftop space for residents. The fi rst structure has a 2017 opening date. The overall 2.5-million-square-foot Hallets Point project includes 2,400 units with 483 affordable apartments in multiple residential buildings, with retail space, a supermarket, a school and a public waterfront promenade. Durst purchased a controlling interest in the project from Lincoln Equities Group, the original developer, for more than $100 million last year. The company paid $15 million for the fi nal parcel of land at 1-02 26th Ave. which it needed for the huge project, according to city records fi led in February. The Hallets Point project is one of two mega developments on the Astoria waterfront. The other, called Astoria Cove, was passed by the City Council last year. It includes more than 1,700 units, of which 27 percent will be affordable housing. New Astoria rental building The Grove to open and start leasing this fall BY LIAM LA GUERRE [email protected] @liamlaguerre Developer Tsilo Group is hoping to open and begin leasing in its new 62-unit Astoria rental building called The Grove this fall, according to representatives of Modern Spaces, which was chosen to exclusively handle marketing in the building. The seven-story building at 30-40 21st St. will offer a mix of studios, one- and two-bedrooms apartments. The units will feature washers and dryers, maple hardwood fl oors, and kitchens with Italian cabinets and Caesarstone countertops. Amenities in the building include a gym, and a landscaped rooftop with lounges and sunbathing area. Rental prices in the building have not been released yet, but average rental rates in the neighborhood are $2,395 per month for a studio, $2,588 for a onebedroom and $3,393 for a twobedroom apartment, according to data from Modern Spaces. Those rates are much higher than those in most areas in the borough, but refl ects the demand in the neighborhood due to its access to transportation, established commercial strips, diverse restaurants and entertainment venues, such as the Museum of the Moving Image and the Beer Garden at Bohemian Hall. Modern Spaces believes these community amenities will attract residents to The Grove. “Astoria is a culturally diverse and established neighborhood with a true sense of community,” said Modern Spaces’ Greg Kyroglou, who will lead the marketing effort of the building. “The Grove will not only provide wellcrafted homes to potential renters but also give them a chance to experience all that makes this area so special.” A ton of new projects are planned for Astoria, including massive waterfront developments such as the Astoria Cove and Hallets Point plans.
QC05142015
To see the actual publication please follow the link above