WWW.QNS.COM RIDGEWOOD TIMES AUGUST 15, 2019 31
REAL ESTATE
Apartment sales drop over the past year
BY MAX PARROTT
MPARROTT@SCHNEPSMEDIA.COM
@RIDGEWOODTIMES
Despite the fl urry of real estate activity
in Long Island City amid the fallout
from the Amazon HQ2 debacle, a
new city comptroller’s report shows that
the northwest region did not make up for
the borough as a whole. Queens apartment
sales overall are in a slump.
Apartment sales in the “World’s
Borough” fell 11.7 percent from 3,421 to
3,022 in the second quarter of 2019. Real
estate company Douglas Elliman also
reported that the number of one- to threefamily
homes sold in Queens fell by 9.4
percent in 2019, on a year-over-year basis.
While the volume of real estate sales in
Manhattan rose 12.5 percent over the past
year, Robert Glessman, Douglas Elliman’s
executive manager of sales for Queens,
argued that the drop is indicative of a much
larger trend across the city. He pointed
out that Brooklyn’s apartment sales also
dipped by 4.5 percent over the past year.
“As a whole, things are down, yes, and
that’s because there’s no sense of urgency.
Everyone is waiting for a better deal,”
said Glessman, explaining the trend as a
result of low interest rates. “People buy by
emotion and urgency.”
Glessman said that the other problem
facing real estate in Queens is that the
regions that tend to off er the biggest deals
tend to have lower-density housing. The
southeastern region in neighborhoods
like Jamaica and St. Albans tends to have
lower prices, but it off ers houses instead
of condos, so it doesn’t make a big dent in
the data.
Despite the drop, Andrew Barrocas of
MNS Realty, said that he wasn’t concerned
over the health of new apartment buildings
in the borough. He said he was confi dent
that the amount of new construction would
change the trend.
“It’s a number that’s difficult. That
number is heavily it could shift depending
on when closing happen,” said Barrocas.
As a result of the drop, the listing
inventory rose 23.4 percent to 6,004 in
the second quarter of 2019 compared
with the same period last year, according
Even the fl urry of real estate activity in Long Island City over the past year
couldn’t make up for the falling rate of apartment sales in Queens.
Photo: Bill Parry/QNS
to the report.
“So we have more inventory on the
market and sales are down. That tells
me that more people are coming on the
market,” said Glessman. “They’re looking
to play who’s looking to come down. And
when numbers come down, sales will
come up.”
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Onderdonk Avenue 70th Street 56th Avenue 83rd Place
Under $600,000
63-16 Forest Avenue
$520,000
Condo
2 bedrooms, 2 bathrooms
Joe Hasselt
Joe T. Hasselt Realtor
$600,000-$1,000,000
203 Onderdonk Avenue
$826,600
Hi-Ranch
2 bedrooms, 1 bathroom
David Torres
Owners.com
Over $1,000,000
65-13 Myrtle Avenue
$1,100,000
Mixed-use
5 bedrooms, 3 bathrooms
Miriam Vasquez
RE/MAX Team
Under $600,000
70-10 80th Street
$499,000
Two Story
2 bedrooms, 1 bathroom
Denise Mussillo
Exit Realty Achieve
$600,000-$1,000,000
90-15 81st Road
$900,000
Colonial
3 bedrooms, 3 bathrooms
Patrick Piasecki
Realty Connect USA LLC
Over $1,000,000
70-32 70th Street
$1,450,000
Colonial
5 bedrooms, 4 bathrooms
Ronald Ferrara
Keller Williams Landmark II
Under $600,000
59-84 59th Place
$548,000
Two Story
2 bedrooms, 1 bathroom
Carmen Lopez
Core Realty Success
$600,000-$1,000,000
60-71 70th Street
$819,000
Colonial
3 bedrooms, 2 bathrooms
Andy Chan
Landmark International R E LLC
Over $1,000,000
61-49 56th Avenue
$1,949,000
Two-family Duplex
8 bedrooms, 6 bathrooms
Jaroslaw Kaszuba
Exit All Seasons Realty
Under $600,000
66-59 71st Street
$505,000
Condo
2 bedrooms, 2 bathrooms
John Lombardi
Crifasi Real Estate Inc
$600,000-$1,000,000
64-73 83rd Place
$849,000
Tudor
3 bedrooms, 1 bathroom
Shelly Irizarry
Reony.Com Ltd
Over $1,000,000
67-33 79th Street
$1,290,000
Two Story
3 bedrooms, 3 bathrooms
Natan Amos
Family Home Realty LLC
/Owners.com
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