REAL ESTATE
LIC sees increase in residential units and average rental and condo prices
BY EMILY DAVENPORT
edavenport@qns.com / @QNS
It’s no secret that Long Island City
has become a popular hub for residential
Sales in Queens HOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
FLUSHING JACKSON HEIGHTS JAMAICA OZONE PARK
Under $500,000
215-47 47th Ave., Bayside
$229,000
Co-op
1 bedroom, 1 bathroom
Antoinette Petruzzello
Coldwell Banker Residential
$500,000-$900,000
138-31 58th Rd., Flushing
$699,000
Condo
3 bedrooms, 2 bathrooms
Kaiqiao Wang
E Realty International Corp
Over $900,000
167-10 Cryders Ln., Whitestone
$1,180,000
Single Family
4 bedrooms, 3 bathrooms
Chen Yi Xu
Perfect Group Realty Inc
Under $500,000
50-21 39th Pl., Sunnyside
$228,888
Co-op
1 bedroom, 1 bathroom
Oscar Lopez
Century Homes Realty Group LLC
$500,000-$900,000
23-13 41st St., Astoria
$850,000
Single Family
2 bedrooms, 2 bathrooms
Marisa VanWinckle
NY Metro Realty Group Ltd
Over $900,000
32-09 82nd St., Jackson Heights
$1,499,000
Multi-Family
6 bedrooms, 3 bathrooms
Henry Toro
Realty Executives Today
Under $500,000
101-32 115th St., Jamaica
$497,777
Multi-Family
6 bedrooms, 2 bathrooms
Peter Prashad
First Class Realty Enterprises
$500,000-$900,000
88-57 239th St., Bellerose
$650,000
Single Family
4 bedrooms, 2 bathrooms
Fanny Chang
Arro Homes Sales Inc
Over $900,000
87-03 Chevy Chase., Jamaica Estates
$1,359,000
Single Family
3 bedrooms, 3 bathrooms
Alla Yakubov
NY Empire Real Estate
Under $500,000
98-05 63rd Rd., Rego Park
$315,000
Co-op
1 bedroom, 1 bathroom
Miriam Ruiz
MJR Real Estate LLC
$500,000-$900,000
85-15 120th St., Kew Gardens
$677,523
Condo
2 bedrooms, 2 bathrooms
Patricia Baron
Sparrow Realtors LLC
Over $900,000
87-08 101st Ave., Ozone Park
$1,330,000
Multi-Family
8 bedrooms, 5 bathrooms
Lam Ho
Forward NY Real estate Corp
and commercial development.
LIC Partnership released a
Neighborhood Snapshot that details
the residential development that has
taken place in Long Island City since
2015.
According to their data, Long Island
City saw a total of 15,100 residential
units completed in 2017 (11,900
rentals, 3,100 condos), compared to
11,900 units completed in 2016 (9,200
rentals, 2,700 condos). Long Island
City is projected to have 15,700 residential
units completed by the end of
the year, with a total of 12,600 rentals
and 3,100 condos.
Just three years ago in 2015, a total
of 10,900 units were completed, with
8,200 rentals and 2,700 condos.
As the number of residential spaces
are on the rise in neighborhood,
the report also gives a look at how
much one of these units may cost. Th e
report found that the average rental
rates for luxury rentals in the fi rst of
quarter of 2018 is $3,107 while walkup
rentals rounded out at $2,394.
Th e report also outlines the average
price for condos in Long Island
City. While a studio and one-bedroom
condo could cost you an average
of $564,667 and $813,846 respectively,
the average price of a two-bedroom
condo jumps up to $1,316,586,
more than double the cost of a studio.
Th e report also found that a
three-bedroom condo could cost an
average of $1,943,054, more than two
times the average price of a one-bedroom
and over three times more than
the price of a studio.
For more information, visit licqns.
com. Photo courtesy of Flickr/Gabe Shore
link
