20 JULY 15, 2021 RIDGEWOOD TIMES WWW.QNS.COM
Lease signings continue upwards trend in NW Queens: Report
Under $600,000
62-48 60th Place Unit 3C
$598,000
Condo
2 bedrooms, 2 bathrooms
Wioletta Bednarczuk, Sold By Bart
R E Partners Inc
$600,000-$1,000,000
16-70 Norman St. Unit 3F
$679,000
Condo
2 bedrooms, 1 bathroom
Eva Ma and Yu Cheng Hsu, B
Square Realty Inc
Over $1,000,000
60-15 69th Ave.
$1,300,000
Multi-Family
4 bedrooms, 4 bathrooms
Xingshan LinHuang and Kit
Leung, E Realty International
Corp
Under $600,000
76-18 69th Place Unit 1G
$515,000
Condo
2 bedrooms, 2 bathrooms
Michal Marek and Bartosz Olszewski,
Sold By Bart R E Partners Inc
$600,000-$1,000,000
62-28 80th Road
$699,000
Single Family
3 bedrooms, 1 bathroom
Jessica Hollenstein, Becker Realty
Services Inc
Over $1,000,000
78-11 80th St.
$1,300,000
Multi-Family
7 bedrooms, 2 bathrooms
Jose Garcia and Raisa Fabiana
Falconi, Douglas Elliman Real
Estate
Under $600,000
52-21 65th Place Unit 2P
$249,900
Cooperative
1 bedroom, 1 bathroom
Jordan Donner, Landmark International
R E LLC
$600,000-$1,000,000
64-03 60th Road
$769,000
Single Family
2 bedrooms, 2 bathrooms
Nicole Bonsignore and Debra
Chiappetta, Stonington Realty LLC
Over $1,000,000
54-37 Arnold Ave.
$1,175,000
Multi-Family
8 bedrooms, 4 bathrooms
Evangelia Boudourakis and Irene
Nictas, Daniel Gale Assoc Inc of E
Nor
Under $600,000
66-66 70th St.
$575,000
Single Family
2 bedrooms, 1 bathroom
Michael Maloney, LAFFEY REAL
ESTATE
$600,000-$1,000,000
77-14 66th Road
$808,000
Single Family
3 bedrooms, 1 full and 1half
bathrooms
Louis Pastorini, Coldwell Banker
Phillips
Over $1,000,000
62-31 69th Place
$1,099,000
Single Family
2 bedrooms, 2 bathrooms
Andrew LaSala, Crifasi Real Estate
Inc
REAL ESTATE
BY PAUL JUNIOR PRUDENT
EDITORIAL@QNS.COM
@QNS
The number of new leases signed in northwest
Queens last June is the third highest monthly
total since 2011, while rental prices dropped
compared to last year, according to a new report from
real estate fi rm Douglas Elliman.
The number of new leases signed in the northwest
part of the Queens borough nearly tripled year over
year last month to reach 475 in total. Although numbers
are falling for the second straight month, this is
the largest number of new leases signed in June, the
report found.
According to the same report, the heavy new leasing
volume has helped stabilize rental price trends. The
average rental price dropped by 1.3 percent year to
year. Last June, the price was $2,913 on average compared
to $2,952 last year.
As rents have shown stabilization, tenants have
been more willing to sign longer lease terms in recent
months. The average lease length was 16.4 months, 24
percent longer than in January when the average was
12.9 months, the report found.
The median rental price for a unit in the northwest
part of Queens is identical year to year, about $2,700.
However, this is the highest median rental price on the
market since September 2020 — aft er it dropped to its
lowest since 2018 in March 2020.
The report shows rental price trends continued to
remain weakest in smaller apartments. On average,
last June, the rental price for a studio in the area was
$2,510. This is the lowest price compared to any other
unit available.
The largest decline (3 percent) was in the median
price for one-bedroom and two-bedroom units. On
average, last year, a one-bedroom unit was at $2,782.
Last June, the price dropped on average to $2,699. A
two-bedroom unit was at $3,603 on average in June
2020, compared to $3,494 last month.
Landlords offering concessions in northwest
Queens rose by nearly 9 percent last month when
compared to May 2021. However, there was also a
decrease of around 2 percent in concessions when
compared to June 2020, the report found.
The market share of one-year leases was 81.8 percent
back in January but fell sharply by June to 23.5 percent.
Conversely, the market share of two-year leases was
13.8 percent last January but nearly quadrupled to a
68.1 percent share this June.
On top of the new lease signings records, the report
also shows sales records in the northwest part of the
borough.
Average sales price and median sales price reach records
for the third straight quarter while the number
of sales more than doubled from the same period last
year. Median sales price jumped 12 percent to a record
$680,000, and average sales price jumped 8.2 percent
to a record $715,062 respectively from the same period
last year.
Price gains also set records across property types.
The median sales price of a condo rose 6.7 percent to a
record of $704,481, and the median sales price for a one-
to three-family increased 11.7 percent to a record of
$799,000 respectively from the same period last year.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Norman Street 80th Road 60th Road 66th Road
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