WWW.QNS.COM RIDGEWOOD TIMES JULY 23, 2020 17
REAL ESTATE
Queens renters see discounts during pandemic: Report
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
Despite the COVID-19 pandemic,
it may be a good time to be
a renter in Queens, a new
report suggests.
While rents in the borough
continued to climb in the second
quarter of 2020, the rate at which
they did was the slowest in two
years, according to a new report
from StreetEasy. Overall, renters
appeared to be hunting for a deal
in the outer-boroughs during the
pandemic, including Queens, and
landlords appeared to be cutting
their prices, hoping to score a renter
in a shrunken market.
“Commuting to the office and living
in the center of the city were simply
not on the list of priorities for renters
during this past quarter, and
landlords reacted by slashing rents
and trying new tactics in order to
attract tenants,” said Nancy Wu, an
economist with StreetEasy. “Landlords
are in for a much slower than
normal summer rentals season, even
as the city slowly begins to reopen.
Remote work has given many renters
the option to live anywhere they
please, making it too soon to predict
when rents will rebound.”
According to the report, more
than one in five rental units in
Queens were listed at a discounted
rate — an increase of nearly 5 percentage
points when compared to
last year.
Corona, Far Rockaway and East
Elmhurst all saw major drops median
asking rent when compared
to 2019, according to the report.
All three neighborhoods were hit
particularly hard by the novel
coronavirus in the early months of
the pandemic.
Of the 27 New York City neighborhoods
with a median asking rent
below $2,000 in the second quarter
of 2020, nearly 20 were in Queens.
And renters seem to take notice of
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Fresh Pond Road
Listings selected at random. Courtesy MLS
Under $600,000
71-05 Fresh Pond Road A3D
$529,000
Mid-rise, condo
1 bedroom, 1 full bathroom
Kaszuba Jaroslaw, Exit All Seasons
Realty
$600,000-$1,000,000
18-12 Bleecker St.
$999,000
Colonial
3 bedrooms, 2 full and 1 half
bathrooms
Teodoro Navarrete, Keller Williams
Realty Liberty
Over $1,000,000
64-21 Palmetto St.
$1,299,000
Single family, townhouse
8 bedrooms, 3 full bathrooms
Joe Cruz, Compass
Rutledge Avenue 53rd Avenue Penelope Avenue
Under $600,000
82-58 89th St.
$599,999
Single family, colonial
2 bedrooms, 2 full bathrooms
Akshay Dudani, HomeSmart
CrossIsland
$600,000-$1,000,000
88-49 Rutledge Ave.
$949,000
Single family, tudor
3 bedrooms, 1 full and 1 half
bathrooms
Andrew LaSala, Crifasi Real Estate
Inc
Over $1,000,000
65-13 Myrtle Ave.
$1,050,000
Single family, other
5 bedrooms, 2 full and 1 half
bathrooms
Miriam Vasquez, RE/MAX Team
Under $600,000
52-24 65th Pl. #2P
$325,000
Mid-Rise, Co-Op
2 bedrooms, 1 full bathroom
Jordan Donner, Landmark International
R E LLC
$600,000-$1,000,000
58-03 63rd St.
$779,000
Single family, 2 story
3 bedroom, 1 full bathroom
Beata Fil, Exit All Seasons Realty
Over $1,000,000
66-12 53rd Ave.
$1,248,000
Single family, colonial
4 bedrooms, 2 full and 1 half
bathrooms
Shehriar Islam and Kristin Scanlon,
Keller Williams Points North
Under $600,000
66-83 70th St. #2C
$525,000
Condo
2 bedrooms, 2 full bathrooms
Bartosz Olszewski and Michal
Marek, Sold By Bart R E Partners
Inc
$600,000-$1,000,000
6462 84th St.
$859,000
Single family, tudor
3 bedrooms, 2 full bathrooms
Matthew A. Spezzano, Selective
Properties Rl Est
Over $1,000,000
82-46 Penelope Ave.
$1,125,000
Single family, tudor
3 bedrooms, 2 full and 1 half
bathrooms
Century 21 Amiable Rlty Grp II
the low prices. StreetEasy reports
that searches for rentals in Queens
were up by 24 percent during the
second quarter of this year.
In Brooklyn searches were up by
26 percent and searches in Manhattan
were up by 15 percent, according
to the report.
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