34 NOVEMBER 28, 2019 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
How long you need to save for a down payment in Queens
BY EMILY DAVENPORT
EDAVENPORT@QNS.COM
@QNS
A recent report took a look at how
much time it would take to save
up a down payment on a home in
Queens.
PropertyClub recently released a
report that sought to find out how
long it would take the average New
Yorker has to save up a 20 percent
down payment for a house or condo
at a median price. While neighborhoods
in Manhattan and Brooklyn
had the longest amount of time to
save for a down payment (Manhattan’s
Greenwich Village would require
122 years to save), Long Island
City ranked at number 28, requiring
23 years to save up for a down payment
on a house at a median price.
Following close behind at number
29 was Forest Hills, also requiring
23 years to save up for a house down
payment. Jamaica Estates was the
third-longest Queens neighborhood
with a 22 year savings time.
Jumping down the list to numbers
46, 47 and 48 were Sunnyside,
Astoria and Beechhurst,
respectively, each requiring 19
years to save a 20 percent down
payment.
According to PropertyClub’s
findings, saving for a 20 percent
down payment on a median
priced condo in Queens
didn’t see much improvement
in saving times. While Long
Island City ranked lower on
the condo list at number 45, it
would still require 18 years to
save up for a 20 percent down
payment on a condo. Forest
Hills also fell down the list
to number 52, requiring 15
years to save up a condo down
payment.
Elmhurst ranked at number
60, requiring 13 years to save
for a condo down payment. Astoria,
Douglaston and Rego Park
ranked at 65, 66 and 67, respectively,
each requiring 12 years to save for a
down payment.
Photo via Getty Images
Read the full report at propertyclub.
nyc.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
65th Street
Listings selected at random. Courtesy MLS
Under $600,000
21-08 Butler Ave., UNIT J2
$599,999
Colonial
2 bedrooms, 2 bathrooms
Akshay Dudani
HomeSmart CrossIsland
$600,000-$1,000,000
60-14 Putnam Ave.
$915,000
Two-family two-story
5 bedrooms, 2 bathrooms
Joseph Crifasi
Crifasi Real Estate Inc.
Over $1,000,000
68-28 65th St.
$1,199,000
Two-family contemporary
6 bedrooms, 3 bathrooms
Michael Bifalco
Capri Jet Realty Corp
67th Place 63rd Street 81st Street
Under $600,000
76-08 69th Place, UNIT 3C
$549,000
Condo
2 bedrooms, 2 bathrooms
Joseph Guidici
Century 21 Amiable Rlty Grp II
$600,000-$1,000,000
69-07 67th Place
$659,000
Two-story
3 bedrooms, 2 bathrooms
Louis Pastorini
Coldwell Banker Phillips
Over $1,000,000
59-14 Summerfi eld St.
$1,299,000
Two-family townhouse
5 bedrooms, 2 bathrooms
John Lombardi
Crifasi Real Estate Inc.
Under $600,000
52-24 65th Place, UNIT 4L
$340,000
Co-op
2 bedrooms, 1 bathroom
Jordan Donner
Landmark International R E LLC
$600,000-$1,000,000
531-21 63rd St.
$799,000
Other
3 bedrooms, 2 bathrooms
Sal Crifasi
Crifasi Real Estate Inc.
Over $1,000,000
59-36 70th St.
$1,229,000
Two-family contemporary
4 bedrooms, 3 bathrooms
Richard Gambino
Century 21 American
Under $600,000
66-83 70th St., UNIT 3D
$399,000
Condo
1 bedroom, 1 bathroom
Florin Spariosu
Sparrow REALTORS LLC
$600,000-$1,000,000
57-50 81st St.
$699,000
Ranch
2 bedrooms, 1 bathrooms
Lori Caggiano, Luisa Fazzalari
Douglas Elliman Real Estate
Over $1,000,000
79-18 67th Road
$1,350,000
Two-family duplex
12 bedrooms, 4 bathrooms
Haroon Ahmad
Elite Realty of USA Inc.
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