24 FEBRUARY 25, 2021 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Rents in Queens dropped to 2014 levels in January: Report
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
Rents have continued to drop in Queens into
the new year, according to a new report.
The median asking rent in the borough in
January 2021 was $2,000, the lowest it’s been since
March of 2014, according to a report from real
estate company StreetEasy.
Additionally, the Queens Rent Index, a price tool
utilized by StreetEasy, fell 8.6 percent during the
fi rst month of the year. The drop marks the largest
annual decline on record for Queens, according to
the report.
However, while large drops in prices have
thrown the real estate market into fl ux in both
Manhattan in Brooklyn, in Queens, the aff ordable
prices have kept the market relatively stable, the
report said.
The drop in rent in Queens echoes the rent trends
in Manhattan and Brooklyn, which dropped 15.5
percent and 8.6 percent in January, respectively.
The median asking rent in Manhattan was $2,750,
the lowest it’s been since March 2010, according
to the report. In Brooklyn, the average rent hit
$2,395.
Adding to the drop in prices across the city was
the major increase in the supply of units available
for rent. Though the pace of new listings has slowed
since the fall when it hit its peak, Manhattan and
Brooklyn had twice as many available units in
January as each did a year ago.
According to StreetEasy, the trends seen in January,
including the drop in rents and the infl ux of
available units on the market, are likely to continue
well into 2021.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Norman Street
Listings selected at random. Courtesy MLS
Under $600,000
62-48 60th Place, Unit 1B
$399,000
Condo
1 bedrooms, 1 bathrooms
Michelle O Kane, O Kane Realty
$600,000-$1,000,000
16-70 Norman St., Unit 3F
$709,000
Condo
2 bedrooms, 1 bathroom
Talaat Elkaray, Keller Williams
Landmark II
Over $1,000,000
21 Charlotte St.
$1,050,000
Two Story
6 bedrooms, 2 bathrooms
xiao Zheng, Jamie & Connie Real
Estate Grp
78th Street 54th Avenue 77th Street
Under $600,000
80-13 59th St.
$599,000
Two Story
7 bedrooms, 3 bathrooms
Sandra Awad, Prime Realty
$600,000-$1,000,000
78-48 78th St.
$679,000
Two Story
3 bedrooms, 1 bathroom
Kaszuba Jaroslaw, Exit All
Seasons Realty
Over $1,000,000
68-34 65th St.
$1,249,000
Colonial
8 bedrooms, 2 bathrooms
Ahsan Haque, United Prestige
Under $600,000
64-49 Perry Ave., Unit 6
$283,000
Condo
2 bedrooms, 1 bathroom
Manuel Vargas, Keller Williams
Rlty Landmark
$600,000-$1,000,000
48-23 54th Ave.
$620,000
Townhouse
2 bedrooms, 2 bathrooms
Joseph DeVito, Keller Williams
Realty Greater
Over $1,000,000
63-27 55th Ave.
$1,200,000
Single Family
4 bedrooms, 2 bathrooms
Michal Marek, Sold By Bart R E
Partners Inc
Under $600,000
61-88 Dry Harbor Road, Unit 4J
$349,000
Co-op
2 bedrooms, 1 bathroom
Joshua Kariyev, Astor Brokerage
Ltd
$600,000-$1,000,000
65-01 77th St.
$680,000
Two Story
3 bedrooms, 1 half and 1 full
bathroom
Bridgette Fiorillo, EXIT Realty
Premier
Over $1,000,000
8519 60th Ave.
$1,299,000
Colonial
4 bedrooms, 3 bathrooms
Matthew A. Spezzano, Selective
Properties Rl Est
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