WWW.QNS.COM RIDGEWOOD TIMES DECEMBER 19, 2019 49
REAL ESTATE
Qns rental prices rise while number of available rentals fall
BY EMILY DAVENPORT
EDAVENPORT@QNS.COM
@QNS
A recent report found that while
prices in the Queens rental
market are rising and thriving,
the amount of available rentals are
decreasing compared to last year.
On Dec. 12, Douglas Elliman Real
Estate released their November 2019
Rental Market Report for Queens.
According to the report, rental prices
throughout the city in November 2019
are continuing to rise compared to
November 2018.
“Conditions in the NYC real estate
market right now are ideal for the
rental market to thrive, so this month’s
results are no surprise,” said Jonathan
Miller, President and CEO of Miller
Samuel Inc. and the author of the report.
“We haven’t seen a rental price drop or
an increase in concessions in several
months, and it’s certainly looking like
the market will fi nish out the year with
that same resilience.”
Net eff ective rents for Queens in November
rose 4.6 percent to $2,878. The
median face rent also saw a 4.2 percent
increase to $2,989, and the average
rental price rose 5.2 percent to $3,141.
However, rental price per square foot
fell to $49.75, marking a 6.1 percent
decrease, and listing discounts also
declined from 1.3 percent to 1.1 percent.
According to their findings, there
were 233 new leases during the month of
November, marking a 14.3 percent drop
year-over-year. Listing inventory overall
also fell 13.9 percent year-over-year,
dropping to 399 new listings. The new
development market share in Queens declined
from 46 percent to 33.5 percent.
New listings spent an average of 24
days on the market, up two days yearover
year, and share of new rental
transactions with their original prices
or rent concessions dropped from 59.2
percent to 54.5 percent. The size of
concessions in November fell from 1.2
months to 1.1 months year-over-year.
To read the full report, visit elliman.
com.
Ridgewood Times Sales Guide
Photo via Shuttertock
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Harman Street
Listings selected at random. Courtesy MLS
Under $600,000
21-08 Butler Ave., UNIT J2
$499,000
Condo
2 bedrooms, 1 bathroom
Anna Forte
Douglas Elliman Real Estate
$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
19-21 Harman St.
$1,299,000
Two-family two-story
6 bedrooms, 2 bathrooms
Joseph Criifasi
Crifasi Real Estate Inc
57th Street 69th Place Mount Olivet Crescent
Under $600,000
80-17 57th St.
$549,999
Colonial
2 bedrooms, 1 bathroom
Donna Paul
Keller Williams Rty Gold Coast
$600,000-$1,000,000
78-15 80th St.
$899,000
Two-family townhouse
6 bedrooms, 3 bathrooms
Jose Garcia
Douglas Elliman Real Estate
Over $1,000,000
78-57 81st St.
$1,249,000
Two-family victorian
5 bedrooms, 4 bathrooms
Min Duan Wong
Lucky Real Estate LLC
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
73-21 52nd Court
$975,000
Colonial
4 bedrooms, 3 bathrooms
Lucy Chen
Winzone Realty Inc
Over $1,000,000
58-32 69th Place
$1,100,000
Two-family colonial
4 bedrooms, 3 bathrooms
Emilio Estevez
Keller Williams Landmark II
Under $600,000
64-17 72nd St., UNIT 1A
$599,000
Condo
1 bedroom, 2 bathrooms
Florin Spariosu
Sparrow REALTORS LLC
$600,000-$1,000,000
62-22 Mount Olivet Crescent
$679,000
Raised Ranch
2 bedrooms, 1 bathroom
Jaroslaw Kaszuba
Exit All Seasons Realty
Over $1,000,000
82-32 63rd Ave.
$1,288,000
Colonial
4 bedrooms, 4 bathrooms
Shri Singh
Berkshire Hathaway
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