WWW.QNS.COM RIDGEWOOD TIMES APRIL 18, 2019 35
REAL ESTATE
West Queens areas saw condo, rent spikes
BY EMILY DAVENPORT
EDAVENPORT@RIDGEWOODTIMES.COM
@RIDGEWOODTIMES
New development and rising
rental prices continue to trend
throughout western Queens
neighborhoods, according to a recent
report.
Modern Spaces recently released
the Long Island City, Astoria, and
Greater Queens Market Report for
the fi rst quarter of 2019. The report
explores the real estate trends for
condos throughout throughout Long
Island City, Astoria and Flushing as
well as overall rental trends.
According to their fi ndings, the
overall rental market in Long
Island City saw a 5 percent raise
in prices year-over-year, with the
highest rents at the Hunters Point
area at $7,012. Overall unit volume
bounced back from a low Q4-2018,
increasing 37 percent in the fi rst
quarter. Rentals in Long Island City
also saw a 5 percent decrease in net
price per foot and that 76 percent of
units off ered free rent concessions.
Despite the increases in rental
prices, many are looking at Long
Island City for buying a home rather
then renting – the neighborhood
is leading the way for condo sales
throughout the borough. The overall
closing price for condos on the market
in the neighborhood experienced a
12 percent quarterly increase, and
closed condos saw a price increase of
21 percent year-over-year. Prices for
closed, on the market and in contract
condo units all rose over 10 percent
since this time last year.
Rental trends in Astoria followed
suit, with a 4 percent increase in price
year-over-year. Net price per foot in
Astoria saw a 5 percent increase this
quarter, but decreased 12 percent
year-over-year. Rental volume of
units saw a 5 percent increase this
quarter, with 80 percent of the units
comprised of one- and two-bedroom
units.
Condo closing prices in Astoria
saw a 9 percent quarterly decrease
and a 12 percent decrease yearover
year. The new development
in the neighborhood led the way in
condo sales, making up 82 percent
of the available units. One-bedroom
condos had the highest amount on
the market and in contract (making
up 57 percent overall), and Modern
Spaces says that this shows that
Astoria is attracting more fi rst-time
homebuyers.
Visit modernspaces.com to read
the full report.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Linden Street 78th Avenue 71st Street 77th Street
Under $600,000
311 Saint Nicholas Avenue
$479,000
Condo
1 bedroom, 1 bathroom
Steve Cheung
Grand DevelopmentRealty LLC
$600,000-$1,000,000
746 Onderdonk Avenue
$999,000
Multi-family
4 bedrooms, 3 bathrooms
Fabiana Reyes
Keller WilliamsLandmark II
Over $1,000,000
61-15 Linden Street
$1,078,000
Multi-family
5 bedrooms, 2.5 bathrooms
Anthony Reardon
Eliot Hill Realty Inc
Under $600,000
9 Valentine Place
$575,000
Single-family
3 bedrooms, 1 bathroom
Wioletta Bednarczuk
ExitAll Seasons Realty
$600,000-$1,000,000
79-71 78th Avenue
$969,000
Multi-family
5 bedrooms, 2 bathrooms
Joseph Guglielmi
Charles Rutenberg Realty
Over $1,000,000
88-21 81st Avenue
$1,199,000
Multi-family
4 bedrooms, 4 bathrooms
Dame Cascone
Century 21 AA Realty
Under $600,000
64-59 59th Street
$479,000
Single-family
2 bedrooms, 1 bathroom
Joan Sammon
O Kane Realty
$600,000-$1,000,000
52-74 71st Street
$839,000
Single-family
3 bedrooms, 1.5 bathrooms
Nelson Chua
Realty Connect USA LLC
Over $1,000,000
53-57 Metropolitan Avenue
$2,990,000
Multi-family
9 bedrooms, 5 bathrooms
Jaroslaw Kaszuba
Exit All Seasons Realty
Under $600,000
66-41 69th Street
$423,700
Condo
1 bedroom, 1 bathroom
Nora Avalos
NY Superior Realty
$600,000-$1,000,000
63-67 77th Street
$998,000
3 bedrooms, 1.5 bathrooms
Single-family
John Lombardi
Crifasi Real Estate
Over $1,000,000
66-23 79th Street
$1,399,000
Multi-family
3 bedrooms, 2 bathrooms
John Amore
Prime Realty
/modernspaces.com
/WWW.QNS.COM
link
link
