8 The Courier sun • january 22, 2015 for breaking news visit www.couriersun.com Ridgewood rents skyrocketing since end of recession BY LIAM LA GUERE lguerre@queenscourier.com @LiamLaGuerre “Quooklyn,” “Ridgewick,” “Ridgebetween,” whatever you want to call it, rents in Ridgewood have exploded in the city’s newest hot neighborhood since the end of the recession. Rents in Ridgewood last year nearly doubled since 2009, according to data compiled by real estate website StreetEasy.com at the request of The Courier, as more luxury rental buildings moved down the L and M train lines from Bushwick and Williamsburg. The data finds the median price of rents in Ridgewood last year increased to $2,182 from $1,340 in 2009, good for first place in rents charged in Queens. Even when comparing year-to-date numbers between last year and 2013, Ridgewood experienced median rent increases of more than $382, while Astoria saw only a $50 increase and Long Island City actually had a decline. “While rents remained flat in Queens between 2013 and 71-13 60th Lane in Ridgewood 2014, some neighborhoods experienced a surge in prices,” said Alan Lightfeldt, a Photo courtesy of StreetEasy.com StreetEasy data scientist. “Ridgewood — also known as ‘Ridgebetween’ because of its new found status as an ‘in-between’ neighborhood of Brooklyn and Queens — saw prices increase by just over 21 percent as demand for the neighborhood has surged in recent years.” This “new-found status” has helped businesses and created a buzz about Ridgewood that excites some longtime locals, and makes former residents want to come back, but renters are paying for it. Another interesting find from the data suggests rising prices will continue in the Rockaways, which had previously recorded a drop due to effects from Superstorm Sandy. “As this neighborhood continues its recovery from the destruction of Superstorm Sandy, rents have increased rapidly but still remain lower than they were five years ago — a sign that the rental market in Rockaways still has room for further recovery in the months and years ahead,” Lightfeldt said. York College has lowest student debt in the country: study BY ERIC JANKIEWICZ ejankiewicz@queenscourier.com @EricJankiewicz York College has a way of keeping money in their students’ pockets. The college, which is part of City University of New York, has the lowest student debt average in America. A study by The Institute for College Access & Success in 2013 found that the four-year college had an average student debt of $2,271. In New York state, the average student debt is $26,381 York College stands apart at a time of rising tuition and talk of an economic bubble developing in the increase of student loans. In 2013, seven in 10 graduating seniors at public and private nonprofit colleges had student loans. The average debt for these graduates was $28,400, according to the college access institute. York College President Marcia Keizs noted that the school’s low debt is mostly due to the fact that 72 percent of the 8,259 students receive city and state financial aid that covers their whole tuition. But the secret in that, Keisz said, is making sure that all eligible students actually go through the paperworkintensive process of applying for student aid to cover the school’s in-state tuition of $6,396. “Students are being conscious of their choices,” Keisz said. “They’re keeping that debt ceiling low and they’re not being reckless.” During the student aid application season in the spring, Keisz and the school’s faculty participate in a campaign to encourage students to apply for aid. “Over the last seven years we’ve been much more aggressive in marketing financial aid,” Keisz said. “We have these big banners that remind students.” On the banners it says, “Early filings keep you smiling.” “Yeah man, those banners are funny but they do the trick,” said Xavier Crandle, a graduating senior at York College who is debt-free. But Crandle once had student debt. He began his higher education path at a community college upstate. At the time he received some financial aid but he took out a loan to cover the rest of his tuition. The school was going to reduce his financial aid so he decided to enroll closer to home at York College, where he was able to get enough in financial aid, scholarships and grants to cover his costs. “One of the reasons I wanted to come here is because I knew financial aid was easy to get,” said Crandle, who lives in THE COURIER/Photo by Eric Jankiewicz Jamaica and wants to eventually study at Harvard’s business school. Student Aaisha Joseph was also attracted to the school because the faculty makes applying for financial aid so easy. “I’ve never had to take out a loan and I’m so grateful,” Joseph said. “I came to this wonderful school debt-free and I will graduate debt-free.” Aaisha Joseph in the main lobby of York College.
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