WWW.QNS.COM RIDGEWOOD TIMES MARCH 7, 2019 31
REAL ESTATE
Home aff ordability in Queens art districts questioned
BY MARK HALLUM
MHALLUM@SCHNEPSMEDIA.COM
@RIDGEWOODTIMES
A real estate organization is
calling into question the affordability
of cultural districts
aft er they found that residents of arts
districts pay 176 percent more on
average than people who live in other
parts of their city — making arts districts
largely unaff ordable for artists
themselves.
But the rent-to-income ratio
for creative types on a budget is
relatively sweeter in two sections
of Queens, ranking among the top
districts in the nation for affordability
in relation to the income of the
average artist, Yardi Matrix claimed
in its sister publication RentCafe.
The Kaufman Arts District in
Astoria and Downtown Jamaica will
both cost an artist making $81,510
per year less than 30 percent of
their income with the former falling
into place at 29 percent and the
Living in Downtown Jamaica will cost an artist making $81,000 per year
just 27 percent of their income, a report found. File photo
latter taking about 27 percent of
an artist’s income.
The data compiled from U.S.
Department of Labor statistics pertains
to those living in apartment
complexes with more than 50 units
within a half-mile radius of the center
of an art district.
But the wider scope of the study
found that if an artist is living in a
cultural district, they may be paying
an average of around $382 more
on a monthly basis than any other
part of the city where they could be
living, a 176 percent increase above
normal rates.
Yardi Matrix claims that art
districts have become so popular
over the years that they in fact have
grown too expensive for artists
themselves, with Houston’s Museum
District making up one of the most
prominent examples of this at 176
percent of the citywide average and
Seattle’s Capitol Hill arts district
costing the least amount at only a 2
percent rent-to-income ratio.
According to the Department of
Housing and Urban Development,
a household that qualifies at “rentburdened”
is one which sends over
30 percent of income to the landlord,
making most cultural districts no
country for starving artists.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Onderdonk Avenue 67th Street 60th Avenue 79th Street
Under $600,000
1905 Putnam Avenue
$585,000
Condo
2 bedrooms, 1 bathroom
Malgorzata Guerrero
O’Kane Realty
$600,000-$1,000,000
746 Onderdonk Avenue
$999,000
Multi-family
4 bedrooms, 3 bathrooms
Fabiana Reyes
Keller Williams Landmark II
Over $1,000,000
61-28 Linden Street
$1,150,000
Multi-family
7 bedrooms, 2 bathrooms
Lin Han
Mapit Realty LLC
Under $600,000
90-60 Union Turnpike
$375,000
Co-op
2 bedrooms, 1 bathroom
Christos Tsourakis
Laff ey Real Estate
$600,000-$1,000,000
70-09 67th Street
$949,000
2-family traditional
5 bedrooms, 2 1/2 bathrooms
Robert Kueber
Coldwell Banker Kueber Realty
Over $1,000,000
71-37 68th Street
$1,049,000
2-family Colonial
6 bedrooms, 3 1/2 bathrooms
Lourdes Figueroa
Realty By The Park
Under $600,000
59-84 59th Street
$548,000
Single family
2 bedrooms, 1 bathrooms
Carmen Lopez
Core Realty Success
$600,000-$1,000,000
62-47 60th Drive
$868,000
Multi-family
3 bedrooms, 2.5 bathrooms
Malgorzata Pieniadz
Trademarko Realty
Over $1,000,000
62-44 60th Avenue
$1,375,000
Multi-family
4 bedrooms, 3.5 bathrooms
Jolanta Golaszewski
Century 21 Amiable Realty Group II
Under $600,000
72-31 Metropolitan Avenue
$529,000
Condo
1 bedroom, 1 bathroom
Michele Ehrlich
Eliot Hill Realty
$600,000-$1,000,000
62-60 83rd Street
$799,000
Tudor
3 bedrooms, 2.5 bathrooms
Yuemei Yee
Winzone Realty
Over $1,000,000
66-64 79th Street
$1,200,000
Colonial
3 bedrooms, 1 bathroom
Natalie Rainone
Jerry Fink Real Estate
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