32 APRIL 26, 2018 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
LIC sees increase in residential units and average rental and condo prices
BY EMILY DAVENPORT
EDAVENPORT@QNS.COM / @QNS
It’s no secret that Long Island
City has become a popular hub
for residential and commercial
development.
LIC Partnership released a Neighborhood
Snapshot that details the residential
development that has taken
place in Long Island City since 2015.
According to their data, Long Island
City saw a total of 15,100 residential
units completed in 2017 (11,900 rentals,
3,100 condos), compared to 11,900 units
completed in 2016 (9,200 rentals, 2,700
condos). Long Island City is projected
to have 15,700 residential units completed
by the end of the year, with a
total of 12,600 rentals and 3,100 condos.
Just three years ago in 2015, a total
of 10,900 units were completed, with
8,200 rentals and 2,700 condos.
As the number of residential spaces are
on the rise in neighborhood, the report
also gives a look at how much one of these
units may cost. The report found that the
average rental rates for luxury rentals in
the fi rst of quarter of 2018 is $3,107 while
walk-up rentals rounded out at $2,394.
The report also outlines the
average price for condos in Long
Island City. While a studio and
one-bedroom condo could cost you
an average of $564,667 and $813,846
respectively, the average price of
a two-bedroom condo jumps up to
$1,316,586, more than double the cost
of a studio.
Photo courtesy of Flickr/Gabe Shore
The report also found that a
three-bedroom condo could cost an
average of $1,943,054, more than two
times the average price of a one-bedroom
and over three times more than
the price of a studio.
For more information, visit licqns.com.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD
61st Street 71st Avenue Mazeau Street 77th Place
Under $600,000
63-15 Forest Ave.
$449,000
Condo
1 bedroom, 1 bathroom
Iwona Wojcik
Charles Rutenberg Realty Inc.
$600,000-$1,000,000
75-18 61st St.
$925,000
Multi-Family
5 bedrooms, 2 bathrooms
Summer Law
Century Homes Realty Group LLC
Over $1,000,000
60-91 70th Ave.
$1,380,000
Multi-Family
8 bedrooms, 3 bathrooms
Uriel Echeverry
Century 21 American Homes
GLENDALE
Under $600,000
70-21 71st St.
$598,800
Single Family
3 bedrooms, 2 bathrooms
Robert Kueber
Coldwell Banker Kueber Realty
$600,000-$1,000,000
78-54 79th St.
$965,000
Multi-Family
5 bedrooms, 2 bathrooms
Crifasi Real Estate Inc
Crifasi Real Estate Inc
Over $1,000,000
64-02 Myrtle Ave.
$1,450,000
Multi-Family
6 bedrooms, 4 bathrooms
Woosub Hwang
Promise Realty LLC
MASPETH
Under $600,000
64-45 59th Ave.
$499,000
Single Family
1 bedroom, 1 bathroom
Jaroslaw Kaszuba
Exit All Seasons Realty
$600,000-$1,000,000
61-11 56th St.
$700,000
Single Family
4 bedrooms, 3 bathrooms
Cristian Gonzales
Winzone Realty Inc.
Over $1,000,000
57-67 Mazeau St.
$1,388,888
Multi-Family
6 bedrooms, 3 bathrooms
Teresa Coleman
Shore Line Realty Group Corp
MIDDLE VILLAGE
Under $600,000
7310 69th Ave.
$599,000
Single Family
2 bedrooms, 1 bathroom
Matthew Spezzano
Selective Properties Real Estate
$600,000-$1,000,000
65-06 77th Pl.
$735,000
Single Family
3 bedrooms, 2 bathrooms
Louis Pastorini
Coldwell Banker Phillips
Over $1,000,000
61-64 81st St.
$1,098,000
Single Family
3 bedrooms, 2 bathrooms
Christine Lopointo
Century 21 American Homes
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