REAL ESTATE
W. Queens areas saw rising condo and apt. prices in early 2019
Photo courtesy of Flickr/Gabe Shore
Sales in QueensHOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
LITTLE NECK ASTORIA JAMAICA ESTATES FOREST HILLS
Under $500,000
13705 Franklin Ave., Flushing
$295,000
Co-op
1 bedroom, 1 bathroom
Meng Chen
East Coast REALTORS Inc
$500,000- $900,000
43-12 214th St., Bayside
$749,000
Condo
2 bedrooms, 2 bathrooms
Alex Tembelis
TMT Realty Group LLC
Over $900,000
264-42 60th Road, Little Neck
$1,298,000
Single-family
3 bedrooms, 2.5 bathrooms
Siang Liu
E Realty International Corp
Under $500,000
3131 54th St., Woodside
$375,00
Co-op
1 bedroom, 1 bathroom
Geraldine McKeon
Keller Williams Landmark II
$500,000- $900,000
42-50 27th St., Long Island City
$579,000
Condo
1 bedroom, 1 bathroom
Dingxing Chen
Chase Global Realty Corp
Over $900,000
20-38 27th St., Astoria
$1,599,000
Multi-family
5 bedrooms, 2 bathrooms
Evangelia Boudourakis
Daniel Gale Assoc Inc of E Nor
Under $500,000
80-35 Springfi eld Blvd., Queens Village
$279,000
Co-op
2 bedrooms, 1 bathroom
Young Ho Kim
Promise Realty LLC
$500,000- $900,000
150-40 118th Ave., Jamaica
$549,000
Single-family
4 bedrooms, 1.5 bathrooms
Yvette Kearse Momplaisir
Century 21 Milestone Realty
Over $900,000
185-43 80th Road, Jamaica Estates
$1,695,000
Single-family
5 bedrooms, 3.5 bathrooms
Solomon Davydov
Exit Realty First Choice
Under $500,000
61-55 98th St., Rego Park
$299,000
Co-op
1 bedroom, 1 bathroom
Alex Munoz
Keller Williams Landmark II
$500,000- $900,000
108-20 71st Ave., Forest Hills
$848,000
Condo
1 bedroom, 1 bathroom
Dalia Elison
Douglas Elliman Real Estate
Over $900,000
84-04 Leff erts Blvd., Kew Gardens
$1,450,000
Multi-family
8 bedrooms, 4.5 bathrooms
Dorothy Bethune
Crossings Realty
BY EMILY DAVENPORT
edavenport@qns.com
@QNS
New development and rising rental
prices continue to trend throughout western
Queens neighborhoods, according to
a recent report.
Modern Spaces recently released the
Long Island City, Astoria, and Greater
Queens Market Report for the fi rst quarter
of 2019. Th e report explores the real
estate trends for condos throughout Long
Island City, Astoria and Flushing as well
as overall rental trends.
According to their fi ndings, the overall
rental market in Long Island City saw
a 5 percent raise in prices year-over-year,
with the highest rents at the Hunters
Point area at $7,012. Overall unit volume
bounced back from a low Q4-2018,
increasing 37 percent in the fi rst quarter.
Rentals in Long Island City also saw a 5
percent decrease in net price per foot and
that 76 percent of units off ered
free rent concessions.
Despite the increases in
rental prices, many are looking
at Long Island City for
buying a home rather than
renting – the neighborhood
is leading the way for condo
sales throughout the borough.
Th e overall closing price for
condos on the market in the
neighborhood experienced a
12 percent quarterly increase,
and closed condos saw a price
increase of 21 percent yearover
year. Prices for closed,
on the market and in contract
condo units all rose over 10 percent since
this time last year.
Rental trends in Astoria followed suit,
with a 4 percent increase in price yearover
year. Net price per foot in Astoria
saw a 5 percent increase this quarter,
but decreased 12 percent year-over-year.
Rental volume of units saw a 5 percent
increase this quarter, with 80 percent of
the units comprised of one- and two-bedroom
units.
Condo closing prices in Astoria saw
a 9 percent quarterly decrease and a
12 percent decrease year-over-year.
Th e new development in the
neighborhood led the way in
condo sales, making up 82
percent of the available units.
One-bedroom condos had the
highest amount on the market
and in contract (making up 57
percent overall), and Modern
Spaces says that this shows
that Astoria is attracting more
fi rst-time homebuyers.
Like Astoria, Flushing
had a boost in new development
making up the majority
of closed condo sales in the
neighborhood. However, overall
closing prices for condos
decreased 5 percent this quarter. In contract
condos had a lower than usual volume
of units (-49 percent), while on the
market inventory for the neighborhood
show slight decreases in price per foot (-1
percent).
Click here to read the full report.
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