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QUEENS WEEKLY, AUGUST 18, 2019
Bike-riding burglar Apartment
rose 12.5 percent over the
past year, Robert Glessman,
Douglas Elliman’s
executive manager of sales
for Queens, argued that
the drop is indicative of a
much larger trend across
the city. He pointed out
that Brooklyn’s apartment
sales also dipped by 4.5
percent over the past year.
“As a whole, things are
down, yes, and that’s because
there’s no sense of urgency.
Everyone is waiting for a
better deal,” said Glessman,
explaining the trend as a
result of low interest rates.
“People buy by emotion
and urgency.”
Glessman said that the
other problem facing real
estate in Queens is that the
regions that tend to offer
the biggest deals tend to
have lower-density housing.
The southeastern region in
neighborhoods like Jamaica
and St. Albans tends to have
lower prices, but it offers
houses instead of condos, so
it doesn’t make a big dent in
the data.
Despite the drop,
Andrew Barrocas of MNS
Realty, said that he wasn’t
concerned over the health
of new apartment buildings
in the borough.
He said he was confident
that the amount of new
construction would change
the trend.
“It’s a number that’s
difficult. That number
is heavily it could
shift depending on
when closing happen,”
said Barrocas.
As a result of the drop,
the listing inventory rose
23.4 percent to 6,004 in
the second quarter of 2019
compared with the same
period last year, according
to the report.
“So we have more
inventory on the market
and sales are down. That
tells me that more people
are coming on the market,”
said Glessman. “They’re
looking to play who’s
looking to come down. And
when numbers come down,
sales will come up.”
Reach reporter Max
Parrott by email at
mparrott@schnepsmedia.
com or by phone at
(718) 260-2507.
7, an unknown man
entered a residence of
a 50-year-old woman in
the vicinity of Sutter
Avenue and 118th Street
through the back door.
While there were no
signs of forced entry,
according to the NYPD,
it is unknown if the door
was locked or not.
Once inside, the
suspect took the victim’s
purse, which contained a
watch, $1,300, passport,
$400 gift card, credit
cards and a cellphone,
before f leeing the scene.
The incident was later
reported to the 106th
Precinct, who released
photos of the suspect on
Twitter on Aug. 11.
Anyone with
information about the
burglary can call the
106th Precinct at 718-
845-2261.
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The Long Island City waterfront. Photo courtesy of Governor’s Office
link
