24 NOVEMBER 19, 2020 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Jamaica Estates sees second highest rate real estate discounts: Report
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Suydam Street
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
18-63 Suydam St.
$820,000
Tudor
3 bedrooms, 1 full and 1 half
bathrooms
Fabiana Reyes, EXP Realty
Over $1,000,000
59-12 Bleecker St.
$1,299,000
Multi-family
5 bedrooms, 4 bathrooms
Peter Nowik, Trademarko Realty
Inc
79th Place Flushing Avenue 79th Street
Under $600,000
90-50 Union Turnpike, Unit 20L
$400,000
Co-op
2 bedrooms, 1 bathroom
Brigid Marmorowski, Daniel Gale
Associates Inc
$600,000-$1,000,000
69-20 66th St.
$719,000
Colonial
3 bedrooms, 3 bathrooms
Romeo Lepe,Charles Rutenberg
Realty Inc
Over $1,000,000
78-48 79th Place
$1,650,000
Two Story
5 bedrooms, 3 bathrooms
Timothy Galligan, Keller Williams
Points North
Under $600,000
52-60 65th Place, Unit 6A
$290,000
Co-op
1 bedroom, 1 bathroom
Beata Fil, Exit All Seasons Realty
$600,000-$1,000,000
60-38 Flushing Ave.
$999,000
Two Story
4 bedrooms, 2 bathrooms
Barry Paley, Keller Williams
Points North
Over $1,000,000
60-30 56th Road
$1,649,000
Multi-family
8 bedrooms, 3 full and 1 half
bathrooms
Kaszuba Jaroslaw, Exit All Seasons
Realty
Under $600,000
64-17 72nd St., Unit 3D
$439,000
Condo
1 bedroom, 1 bathroom
Sparrow REALTORS LLC
$600,000-$1,000,000
61-43 79th St.
$848,000
Townhouse
3 bedrooms, 1 full and 1 half
bathrooms
Kathleen Paturno, Tscherne Realty
Inc
Over $1,000,000
72-26 66th Road
$1,700,000
Colonial
4 bedrooms, 3 full and 1 half
bathrooms
John Lombardi, Crifasi Real Estate
Inc
BY EMILY DAVENPORT
EDAVENPORT@QNS.COM
@QNS
The pandemic has taken its toll on
New York City’s real estate market,
giving homebuyers more
leverage to buy during these months
of quarantine.
StreetEasy recently released a
report that examined the market
in New York City throughout the
pandemic. According to the report’s
findings, of the homes that closed between
mid-March through September,
74% sold for less than the seller’s
original asking price. During the
same time period in 2018, 64.5% of
homes sold below the asking price.
Throughout the pandemic, a handful
of New York City neighborhoods
had bigger discounts than they have
in years past. The area with the highest
discounts was Midtown with a
12.4% median discount, or $250,000
off the price. The report found that
83.3% of homes in the neighborhood
sold for under the asking price (of
which the median asking price was
$1,475,000) and the median sales
price was $1,225,000.
Following Midtown was Jamaica
Estates in Queens with an 11.1% median
discount offering with 90.1% of
homes asking under the listed price.
The next highest discounted neighborhoods
include Jamaica (10.1%
discounts), Tribeca (10.1% discounts)
and Elmhurst (9.0%).
“There are very few areas experiencing
bidding wars in New York
City, and we don’t expect that to
change anytime soon,” says Street-
Easy Economist Nancy Wu. “The
large gaps between asking and final
closing prices show that prices
are still elevated — especially in
centrally located neighborhoods
in Manhattan. The pandemic has
changed what buyers across all price
points are looking for in a home, and
sellers must respond to this change
in demand.”
Despite the number of discounts
that were offered throughout
the city, five neighborhoods had
consistent bidding wars because
they offered more space. All of the
neighborhoods were outside of
Manhattan: Downtown Brooklyn,
Flatbush, Gowanus and Greenwood
in Brooklyn, and South Jamaica in
Queens.
Even during the pandemic, New
Yorkers are more inclined to buy a
home. StreetEasy found that 70% of
buyers were planning on moving
within New York City in the next
year and 17% are planning to move to
take advantage of lower prices and
discounts on the market as a result
of COVID-19.
Read the full report at streeteasy.
com.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
link
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