REAL ESTATE
Weak sales market boosts rental market in northwest Queens: Report
Courtesy of Hunters Point Parks Conservancy
Long Island City is the latest neighborhood in western Queens to do community fundraising for young students’ college
funds.
Sales in QueensHOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
BAYSIDE ASTORIA JAMAICA FOREST HILLS
Under $500,000
220-55 46th Ave., Bayside
$478,000
Co-op
2 bedrooms, 1 bathroom
Emma Velanis, Lovett Realty Inc
$500,000-$900,000
145-36 22nd Ave., Whitestone
$899,988
Colonial
3 bedrooms, 1 bathroom
Carmen Ramirez, Winzone Realty Inc.
Over $900,000
39-62 222nd St., Bayside
$1,988,000
Single Family
5 bedrooms, 5 bathrooms
Huiping Qu, E Realty International Corp
Under $500,000
35-24 28 St., Jackson Heights
$499,000
Co-op
1 bedroom, 1 bathroom
Daniel Karatzas, Beaudoin Realty Group
Inc
$500,000-$900,000
33-51 60th Pl., Woodside
$899,000
Single family
3 bedrooms, 1 ½ bathrooms
Anna Chan, Wagner & Kelly Inc
Over $900,000
25-64 34th St., Astoria
$1,900,000
Multi-family
5 bedrooms 2 bathrooms
David Pastorini, Coldwell Banker Phillips
Under $500,000
194-06 109 Ave., St Albans
$479,000
Single Family
3 bedrooms, 2 ½ bathrooms
Marco Lapadura, Keller Williams Realty
Liberty
$500,000-$900,000
87-77 Musket St., Bellerose
$888,000
Ranch
4 bedrooms, 2 bathrooms
Takeram Charran, Supreme Homes
Realty Inc.
Over $900,000
137-45 Bennett St, Jamaica
$1,200,000
Colonial
7 bedrooms, 4 bathrooms
Raymond DeLoe, Rad Marketing Corp
Under $500,000
102-20 163rd Dr., Hamilton Beach
$499,999
Colonial
3 bedrooms, 1 bathroom
Vincent Musca, Century 21 Amiable Rlty
Grp II
$500,000-$900,000
106-64 95th St., Ozone Park
$899,000
Colonial, Two Families
7 bedrooms, 3 bathrooms
Sergey Babayev, Kingsland Properties
Over $900,000
108-17 67th Ave., Forest Hills
Colonial
5 bedrooms, 3 bathrooms
Shlomo Meirov, Olam Realty Group
BY JACOB KAYE
To rent or to buy? Th at is the
question.
New data suggests that renting
may be the answer — at
least, in northwest Queens.
According to a report from
Douglas Elliman, there was a
year over year decline in new
lease signings in the past six
months in neighborhoods like
Long Island City and Astoria.
Th is suggests that landlords
have been more successful in
retaining their tenants and getting
them to resign their leases,
according to Jonathan
Miller, the president and CEO
of Real Estate Appraisers &
Consultants, the group that prepared
the report.
In addition to the decline
in lease signings, the Elliman
report found that the median
rent of studio, one-bedroom,
two-bedroom and three-bedroom
apartments increased in
northwest Queens for the third
time in four months. According
to Miller, rising rents oft en happen
in conjunction with a weaker
sales market.
Of all the types of apartments
available for rent, three-ormore
bedroom apartments saw
the biggest increase in rental
price, according to the report. In
January 2019, the median rental
price for such an apartment
was $3,248. In January 2020, the
rental price increased to $4,066,
or by about 25 percent.
Th e sales and rental market in
Queens didn’t diff er much from
the market in Manhattan and
Brooklyn in January, according
to the report. New leases
declined in both Brooklyn and
Manhattan, as well.