36 NOVEMBER 18, 2021 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
New LIC developments see increase in apartment unit sales: Report
BY KAYLA WONG
EDITORIAL@QNS.COM
@QNS
New developments in western Queens, particularly
in Long Island City, saw an increase in sales
during the last several months, according to a
report by real estate agency MNS.
MNS’ “New Development Market Report” defi nes
“new development sales” data as “arms-length” fi rst
off ering transaction where the seller is considered
a “sponsor,” and is compiled from the Automated City
Register System (ACRIS) for sponsor sales that traded
during the third quarter (which is between July 1 and
Sept. 30 of this year).
During this third quarter, the total sales volume of
Queens sponsor units increased by nearly 46%, from
$296,366,589 during the second quarter to $432,548,838.
The total number of new development sponsor sales
also increased by about 45%, from 295 total sales in the
second quarter to 428 total sales.
Quarter-over-quarter, while the median price per
square foot decreased by 0.6%, the median price paid for
a Queens sponsor unit in that same span increased by
0.8%. Year-over-year, the median price paid per square
foot for a Queens sponsor increased by 4%, while the
median sales price increased by about 18%.
Both the highest price paid and the highest price paid
per square foot for a Queens sponsor unit took place at
the Skyline Tower at 3 Court Square in Long Island City,
where a unit sold for $2,610,739 (or $1,969 per square
foot). In the past quarter, 25 studio sponsor units were
sold, representing nearly 6% of all sponsor unit sales
in Queens.
One-bedroom sponsor units represented nearly
44% of all sponsor unit sales in Queens during the
third quarter of this year, or 187 out of 428 total sales.
Two-bedroom sponsor units represented 46.73% of all
Queens sponsor unit sales, or 200 out of 428 total sales.
Three-bedroom or larger sponsor units comprised
the remaining nearly 4% of Queens sponsor sales that
occurred during this year’s third quarter, just 16 out
428 total sales.
The majority of these sponsor sales were in Long
Island City, where about 65% of all Queens sponsor sales
occurred. This translates to 279 out of 428 total sponsor
unit sales that took place in the neighborhoods tracked
by this report, which include Astoria, Flushing, Forest
Hills, Jackson Heights, Rego Park and Ridgewood.
Flushing had the second-highest percentage of sponsor
sales at about 20%, translating to 86 sponsor units
sold this quarter.
Long Island City also dominated as the neighborhood
where the majority of each individual unit type was
sold, with studios at 92%, one-bedrooms at 68%, twobedrooms
at 59% and three-bedrooms at 75%.
But the largest downswing this quarter also occurred
in Long Island City, where the median price
per square foot decreased by 0.6%, from $1,383 to $1,376.
Additionally, the median sales price in Long Island City
increased by 1.4%, from $999,512 to $1,013,063.
The largest quarterly upswing occurred in Rego
Park, where the median price per square foot increased
by 11%, from $840 to $933, but the median sales price
decreased by nearly 20%, from $680,191 to $544,764.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Himrod Street
Listings selected at random. Courtesy MLS
Under $600,000
62-48 60th Place, Unit 3C
$598,000
Condo
2 bedroom, 2 bathroom
Wioletta Bednarzuk, Bart R E
Partners Inc.
$600,000-$1,000,000
1705 Suydam St.
$869,000
Single-family
2 bedrooms, 2 bathrooms
Waldo Evora, Monumental Realty
Group
Over $1,000,000
2041 Himrod St.
$1,078,000
Multi-family
5 bedrooms, 3 bathrooms
Ivy Hu, B Square Realty
Doran Avenue 59th Road 77th Street
Under $600,000
90-50 Union Tpke., Unit 6H
$270,000
Co-op
1 bedroom, 1 bathroom
Michael Marek, Bart R E Partners
Inc.
$600,000-$1,000,000
84-01 Doran Ave.
$888,888
Single-family
4 bedrooms, 3 bathrooms
David J. Pastorini, Coldwell
Banker Phillips
Over $1,000,000
73-20 70th St.
$1,250,000
Multi-family
8 bedrooms, 4 bathrooms
Peter Nowik, Trademarko Realty
Inc.
Under $600,000
55-36 69th Pl.
$575,000
Condo
1 bedroom, 1 bathroom
Elzbieta D. Mroz, Donna Demkowicz
R E Corp
$600,000-$1,000,000
60-43 59th Rd.
$999,000
Multi-family
3 bedrooms, 2 bathrooms
Jaroslaw Kaszuba, Exit All Seasons
Realty
Over $1,000,000
6511 Grand Ave.
$1,169,000
Multi-family
3 bedrooms, 3 bathrooms
Jaroslaw Kaszuba, Exit All Seasons
Realty
Under $600,000
72-52 Metropolitan Ave., Unit 3A
$469,000
Condo
1 bedroom, 1 bathroom
Marek Sobolewski, Trademarko
Realty Inc.
$600,000-$1,000,000
65-31 77th St.
$745,000
Single-family
3 bedrooms, 1 bathroom
Louis Pastorini, Coldwell Banker
Phillips
Over $1,000,000
5845 80th St.
$1,150,000
Multi-family
3 bedrooms, 3 bathrooms
Elise Pellegrino-Koenig, DONNA
DEMKOWICZ REAL ESTATE CORP
link
/WWW.QNS.COM
link
