32 AUGUST 2, 2018 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Queens has most residential development so far in 2018: report
BY RYAN KELLEY
RKELLEY@RIDGEWOODTIMES.COM
Twitter @R_Kelley6
There has bee4n a noticeably
sharp increase in residential
development in New York City so far in
2018, but nowhere is it more prominent
than in Queens, according to a new
report released by New York YIMBY.
In the real estate publication’s
fi rst-ever mid-year pipeline report on
July 30, it shows that the number of new
residential units in Queens rose from
1,867 in the fi rst half of 2017 to 4,536 in
2018 — an increase of 243 percent and
the largest growth of the fi ve boroughs.
Overall, the citywide year-over-year
numbers show that new residential
units have risen from 9,134 in the fi rst
six months of 2017, to 15,305 in 2018 —
an increase of 67.5 percent.
Much of the growth in housing in
Queens has been powered by Long
Island City, which is rapidly turning
into a city all its own. In just the past
two weeks, two proposed developments
have been revealed as being
contenders for the tallest buildings
in the borough; a 750-foot, mixed-use
tower on 24th Street and a 752-foot
condominium tower on 44th Drive.
In April, the previous contender for
the tallest building in Queens was a
710-foot mixed-use tower on 41st Avenue.
While such towers have prompted local
leaders to speak out about the zoning
laws in the area, the YIMBY report
suggests that the surge in Long Island
City could have positive eff ects as the
supply meets the demand for housing.
“As supply finally meets demand, price
decreases in the neighborhood may also
continue, offering New Yorkers opportunities
for legitimately affordable market-rate
housing that is extremely proximate to
the city’s main job centers in Manhattan,
and disproving the NIMBYs who insist
that new construction can only result
in rising housing costs,” the article said.
In other parts of the borough where
developments call for zoning changes,
the plans have been met with heavy resistance.
In June, Community Board 2
voted against a proposed development
with 561 apartments on Queens Boulevard,
but the plan is still under review
by the borough president, City Planning
Commission and City Council.
Plans for another tower on Queens
Boulevard that would reach 23 stories
and contain more than 100 apartments
were also revealed in July.
In addition, the report suggests that
hotel applications have seen an increase
while the city attempts to curb their
growth by amending the zoning laws
for M-1 districts. Through the fi rst half
of 2018, 2,337 new hotel rooms have been
submitted compared to 2,114 in the fi rst
half of 2017, an increase of 11 percent.
Overall, new units fi led in the fi ve boroughs
are projected to reach 30,000 by the
end of the year, according to the report.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD
Metropolitan Avenue 66th Place 71st Street 75th Street
Under $600,000
63-15 Forest Avenue
$410,000
Condo
1 bedroom, 1 bathroom
Iwona Wojcik
Charles Rutenberg Realty Inc
$600,000-1,000,000
60-61 67th Avenue
$948,000
2-Family, 2-Story
5 bedrooms, 3 bathrooms
Paola Maria Alvarez
Century Homes Realty Group LLC
Over $1,000,000
60-67 70th Avenue
$1,389,000
2-Family Traditional
6 bedrooms, 2 ½ bathrooms
Robert Kueber
Coldwell Banker Kueber Realty
GLENDALE
Under $600,000
79-88 Cooper Avenue
$599,000
1-Family Colonial
3 bedrooms, 1 ½ bathrooms
Neal Modi
RE/MAX Frontier
$600,000-1,000,000
75-08 64th Place
$999,000
2-Family, 2-Story
5 bedrooms, 2 ½ bathrooms
Lisa Grassia
Exit Kingdom Realty
Over $1,000,000
82-81 88th Place
$1,969,900
3-Family Colonial
8 bedrooms, 5 bathrooms
Soyoung Lee
East Coast REALTORS Inc
MASPETH
Under $600,000
62-15 53rd Avenue
$319,000
Co-Op
2 bedrooms, 1 bathroom
Ariel Delgobbo
RE/MAX Team
$600,000-1,000,000
60-76 71st Street
$708,000
1-Family Colonial
2 bedrooms, 2 bathrooms
Cindy Quinn
Laff ey Real Estate
Over $1,000,000
61-48 55th Drive
$1,150,000
2-Family, 2-Story
5 bedrooms, 3 bathrooms
Kenny Theam Tan
Chase Global Realty Corp
MIDDLE VILLAGE
Under $600,000
69-06 78th Street
$569,000
1-Family, 2-Story
3 bedrooms, 1 ½ bathrooms
David Kueber
Coldwell Banker Kueber Realty
$600,000-1,000,000
61-22 75th Place
$989,000
1-Family Townhouse
3 bedrooms, 2 ½ bathrooms
Andrew LaSala
Crifasi Real Estate
Over $1,000,000
62-29 62nd Road
$1,195,000
2-Family Colonial
5 bedrooms, 2 bathrooms
Lourdes Figueroa
Realty By The Park
Photo via Flickr/noahbulgaria
View of Queens skyline in Long Island City
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