32 JANUARY 28, 2021 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Queens rental market’s most severe drop in prices came in second half of 2020
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
Though 2020 was a tough year for the real
estate market in Queens, the borough’s
market fared better than its Brooklyn
and Manhattan neighbors, according to a new
report.
While rental prices dropped around 5 percent
across the borough when compared to 2019, certain
parts of Queens saw larger drops than others,
according to the year-end report from real estate
company MNS.
As was true for luxury markets around the
city, Long Island City was home to some of greatest
price changes when compared with the year
prior. One bedroom apartment prices fell by 5.29
percent, from $3,225 in 2019 to $3,083 this past
year in the neighborhood, the report said.
Studios in Long Island City fell by 4.21 percent
and two-bedrooms dropped by 4.07 percent, according
to the report.
However when focusing only on the second half
of the year, when COVID-19 was ragging in New
York City, the numbers become a lot more dire.
In Long Island City, the average rental price for
a studio fell by over 10 percent, when comparing
the second half of 2020 to the second half of 2019.
Both one-bedroom units and two-bedroom units
in the neighborhood fell by over 13 percent, according
to the report.
Of the neighborhoods studied in the report,
MNS found that the neighborhood with the least
expensive average rental price in 2020 was
Jackson Heights, at $2,019. Not far behind was
Ridgewood, at $2,052, the report said.
However, when focusing only on the second of
2020, the average rental price in Jackson Heights
was $1,943, according to MNS.
In Ridgewood, the average price in the second
half of the year was $1,986.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
83rd Avenue
Listings selected at random. Courtesy MLS
Under $600,000
61-20 71 Ave., Unit J2D
$580,000
Condo
2 bedrooms, 2 bathrooms
Christian Wittmann, Compass
Greater NY LLC
$600,000-$1,000,000
89-38 83rd Ave.
$749,000
Colonial
4 bedrooms, 2 full and 1 half
bathrooms
Susanne Gutermuth, Douglas Elliman
Real Estate
Over $1,000,000
60-18 68th Road
$1,350,000
Two-Story
5 bedrooms, 3 bathrooms
Geniene Sciacca, Crifasi Real Estate
Inc
69th Place 65th Street 66th Road
Under $600,000
80-80 Cypress Ave.
$530,000
Bungalow
3 bedrooms, 1 bathroom
Rosa Collado, Keller Williams
Landmark II
$600,000-$1,000,000
69-19 69 Place
$719,000
Colonial
3 bedrooms, 2 bathrooms
Robert Kueber, Coldwell Banker
Kueber Realty
Over $1,000,000
88-28 81st Ave.
$1,300,000
Two-Story
4 bedrooms, 2 full and 1 half
bathrooms
Geniene Sciacca, Crifasi Real Estate
Inc
Under $600,000
52-24 65th Place, Unit UGJ
$325,000
Co-op
2 bedrooms, 1 bathroom
Kent Gomez, Graceful Realty LLC
$600,000-$1,000,000
58-50 Maspeth Ave.
$899,000
Colonial
5 bedrooms, 3 bathrooms
Hui Lu, Landmark International
R E LLC
Over $1,000,000
51-01 65th St.
$1,199,000
Two-story
4 bedrooms, 3 bathrooms
Julia Zhagui, Success King Realty
Under $600,000
64-17 72nd St., Unit 3D
$439,000
Condo
1 bedroom, 1 bathroom
John Spariosu, Sparrow REALTORS
LLC
$600,000-$1,000,000
77-12 66th Road
$829,000
Colonial
3 bedrooms, 2 bathrooms
Thomas Vastola, Eliot Hill Realty
Inc
Over $1,000,000
74-16 Caldwell Ave.
$1,349,888
Multi-Family
5 bedrooms, 3 bathrooms
Deirdre Folan, Keller Williams
Rlty Landmark
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