REAL ESTATE RIDGEWOOD AND LIC SAW BIGGEST RENT INCREASES LAST MONTH, STUDY SAYS BY ANGELA MATUA email@example.com/@AngelaMatua Prices for a studio in Ridgewood or two-bedroom apartment in Long Island City have jumped since March, according to a study by real estate fi rm MNS. The report found that studios in Ridgewood jumped 8.03 percent from $1,713 in March 2016 to $1,850 in April 2016. Meanwhile, two-bedroom apartments in Long Island City rose by 9.91 percent, from $3,697 in March 2016 to $4,063 in April 2016. These were the largest monthly increases. Long Island City is consistently home to some of the most expensive Sales in Queens HOMES – CO-OPS – CONDOS Listings and photos courtesy MLSLI NORTHWEST NORTHEAST SOUTHWEST SOUTHEAST LIC FLUSHING RIDGEWOOD PICTURED LISTING QUEENS VILLAGE Under $500,000 48-56 44th St., Sunnyside $269,000 Co-op 1 bedroom, 1 bathroom Kenneth Liu Exit Kingdom Realty $500,000-900,000 78-14 24th Ave., Jackson Heights $639,900 1-family home 3 bedrooms, 2 ½ bathrooms Paul Luciano Utopia Real Estate Over $900,000 44-27 Purves St., LIC $1,188,000 Condo 2 bedrooms, 2 bathrooms Maria Carr Douglas Elliman Real Estate Under $500,000 68-42 Springfi eld Blvd., Bayside $338,000 Co-op 3 bedrooms, 1 bathroom Amy Ji Winzone Realty $500,000-900,000 47-11 187th St., Flushing $858,888 1-family home 3 bedrooms, 2 ½ bathrooms George Dakis Dakis Homes 4 U LLC Over $900,000 144-31 South Dr., Malba $1,350,000 1-family home 3 bedrooms, 2 bathrooms Steven Leong Best Group Realty Inc Under $500,000 61-20 Grand Central Pkwy., Forest Hills $310,000 Co-op 1 bedroom, 1 bathroom Naomi Klein Naomi Klein Realtor $500,000-900,000 73-27 52nd Road, Maspeth $760,000 1-family home 3 bedrooms, 2 bathrooms Stephen Chan Politan Real Estate LLC Over $900,000 21-40 Harman St., Ridgewood $999,000 1-family home 4 bedrooms, 2 bathrooms Lucy Lu Landmark International R E LLC Under $500,000 89-15 218th Place, Queens Village $435,000 1-family home 3 bedrooms, 1 bathroom Ramesh Soleimani Cabana Realty LLC $500,000-900,000 82-64 166th St., Hillcrest $719,000 1-family home 3 bedrooms, 2 bathrooms Maria Trinceri Century 21 Amiable Realty Group II Over $900,000 81-17 Tryon Place, Jamaica Estates $1,499,000 1-family home 3 bedrooms, 3 ½ bathrooms Alexandra Babekov Julia Shildkret Real Estate apartment units and MNS CEO Andrew Barrocas does not see that changing anytime soon. “I think LIC is an incredible market, and it always fascinates me how quick the absorption rate is there,” Barrocas said. “I don’t see it changing at all. More families are moving to the neighborhood, and as the area continues to be developed, more retail and restaurants are coming in. It is truly becoming one of the premier rental markets in New York, and demand will continue.” Flushing and Astoria saw the largest monthly decreases in the borough. The price for studios in Flushing decreased by 5.93 percent from $1,480 in March 2016 to $1,392 in April 2016. In Astoria, studio prices decreased by 5.76 percent, from $1,875 in March 2016 to $1,767 in April 2016. But prices for a one-bedroom increased by 4.79 percent to $2,267. Astoria was also the only Queens neighborhood to be placed on a list of top 15 gentrifying neighborhoods by the NYU Furman Center. The average rent in Queens rose by 3.26 percent between March 2015 and March 2016, from $2,082.78 to $2,150.59. Rego Park is the home of the largest yearly increase in overall rent, according to the report with a 7.8 percent increase. Ridgewood comes in at a close second with rent prices jumping 6.7 percent within one year. Not surprisingly, April’s most expensive studios, one-bedroom and two-bedroom apartments were located in Long Island City. Prices averaged $2,417, $2,921 and $4,062 respectively. Photo courtesy of Wikimedia Commons/Jleon Ridgewood and LIC saw some of the biggest rent increases in Queens last month.
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