22 OCTOBER 22, 2020 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Condo market in NW Queens rebounds from rough second quarter
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
The condo market in northwest Queens
bounced back in the third quarter of 2020
after a slow spring marked by COVID-19,
according to a new report.
The price of units in contract in Long Island
City was up 31 percent in the third quarter, an
indication that demand is slowly returning to the
neighborhood, according to Modern Spaces, the
real estate firm that authored the new report.
With the rise in price, the market prices began
to return to prices seen prior to the drop in the
second quarter.
A little further north in Astoria, the neighborhood
saw a 150 percent rise in the number
of condos on the market, the report said. At the
same time, the number of units in contract rose
238 percent in the third quarter, an increase that
can be mostly attributed to Milo Astoria, a new
development project that opened recently.
The condo market looked similar in Flushing,
where the units on the market rose 788 percent
compared to the previous quarter, according to
Modern Spaces.
The price of the average condo in the
neighborhood also rose, with an 8 percent
hike.
According to Modern Spaces, the Flushing
condo market is slowly beginning to resemble the
condo market in Long Island City and Astoria.
Despite the optimism of the report’s authors,
they also recognized some of the negative effects
of the COVID-19 pandemic on the rental market.
The rental market in Long Island City saw a
decrease in volume around 31 percent and the
average net rent in the neighborhood also saw
a decline, dropping 7 percent from the previous
quarter, the report said.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
80th Avenue
Listings selected at random. Courtesy MLS
Under $600,000
71-05 Fresh Pond Road, Unit A3D
$529,000
Condo
1 bedroom, 1 bathroom
Kaszuba Jaroslaw, Exit All Seasons
Realty
$600,000-$1,000,000
53-02 Metropolitan Ave.
$799,000
Single family
3 bedrooms, 1 full and 1 half
bathroom
Bianca Colasuonno, Compass
Greater NY LLC
Over $1,000,000
60-24 80th Ave.
$1,059,000
Multi Family
7 bedrooms, 3 bathrooms
Mohammed Karim, Exit Realty
Prime
77th Avenue Maspeth Avenue 84th Street
Under $600,000
76-08 69th Place, Unit 3B
$559,000
Condo
2 bedrooms, 2 bathrooms
Patricia Zielinski, Keller Williams
Legendary
$600,000-$1,000,000
83-11 77th Ave.
$799,000
Ranch
2 bedrooms, 2 bathrooms
John Amore, Prime Realty
Over $1,000,000
78-49 81 St.
$1,195,000
Trilevel
7 bedrooms, 3 bathrooms
Joseph Guidici, Century 21
Amiable Rlty Grp II
Under $600,000
52-21 65th Place, Unit 3K
$283,000
Mid Rise
1 bedroom, 1 bathroom
Nora Avalos, NY Superior Realty
$600,000-$1,000,000
58-50 Maspeth Ave.
$899,000
Colonial
5 bedrooms, 3 bathrooms
Hui Lu, Landmark International
R E LLC
Over $1,000,000
59-45 70th St.
$1,490,000
Colonial
9 bedrooms, 3 bathrooms
Cindy Wang, E Realty
International Corp
Under $600,000
61-12 69th St., Unit 1B
$415,000
Mid Rise
1 bedroom, 1 bathroom
John Spariosu, Sparrow
REALTORS LLC
$600,000-$1,000,000
64-21 84th St.
$825,000
Tudor
3 bedrooms, 1 full and 2 half
bathrooms
Lawrence Caruana, Tscherne
Realty Inc
Over $1,000,000
61-23 69th Lane
$1,175,000
Contemporary
4 bedrooms, 3 bathrooms
Christopher Tscherne, Tscherne
Realty Inc
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