REAL ESTATE
Rents in Rego Park rose in June, report fi nds
BY EMILY DAVENPORT
edavenport@qns.com
@QNS
A recent report found that rental prices
in Queens are continuing to rise as we
head deeper into the summer season.
MNS Real Estate recently released their
June 2019 Rental Market Report, which
took a look at the ongoing trends in rental
prices throughout Queens. Th e report
found that throughout the month of June,
average rental prices rose from $2,270.59
to $2,308.56, marking a 1.67 percent
increase compared to May 2019.
Year-over-year, studio, one- and
two-bedroom units all saw their average
Sales in QueensHOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
BAYSIDE ASTORIA BRIARWOOD WOODHAVEN
Under $500,000
42-40 Bowne St., Flushing
$298,000
Co-op
1 bedroom, 1 bathroom
Jenny Hong
East Coast Realtors
$500,000-$900,000
58-20 Bell Blvd., Bayside
$798,000
Cape
3 bedrooms, 2 1/2 bathrooms
Maureen Ramsbottom
Maureen Folan R E Group
Over $900,000
141-20 11th Ave., Malba
$1,228,000
Medeteranian
2 bedrooms, 2 bathrooms
Hena Choung
Chase Global Realty Corp
Under $500,000
64-09 39th Ave., Woodside
$275,000
Co-op
1 bedroom, 1 bathroom
Lily Tran,
EXP Realty
$500,000-$900,000
27-17 42nd Rd., Long Island City
$899,000
Condo
1 bedroom, 1 bathroom
Aggie Cheng
Exit Realty Dynasty
Over $900,000
4821 30th Ave., Astoria
$1,500,000
Two stories, Two family
5 bedrooms, 3 bathrooms
Joseph Vaccaro
Amorelli Realty
Under $500,000
179-21 Mathewson Court, Jamaica
$379,000
Two story
3 bedrooms, 2 ½ bathrooms
Sommath Ghosh
Laff ey Real Estate
$500,000-$900,000
194-52 115th Ave., St. Albans
$505,000
Colonial
4 bedrooms, 2 bathrooms
Roman Davydov
Exit Realty First Choice
Over $900,000
151-17 84th Dr., Briarwood
$1,098,000
Colonial
3 bedrooms, 2 ½ bathrooms
Renyuan Zhuang
E Realty International Corp
Under $500,000
68-63 108th St., Forest Hills
$339,000
Co-op
1 bedroom, 1 bathroom
Olga Zakinova
Douglas Elliman Real Estate
$500,000-$900,000
85-15 120th St., Kew Gardens
$595,000
Condo
2 bedrooms, 1 1/2 bathrooms
Tammy Blau
Century 21 Bay Benjamin
Over $900,000
8511 87th St., Woodhaven
$1,299,000
Colonial, Two family
8 bedrooms, 3 bathrooms
John Chetram
Monticello Real Estate Group
prices increase, by 3.80 percent, 3.36
percent and 3.469 percent, respectively.
Compared to May 2019, average studio
prices rose from $1,882.87 to $1,889.76;
one-bedroom pricing rose from $2,200.84
to $2,240.39; and two-bedroom prices
rose from $2,728.05 to $2,795.53.
Th e neighborhood with the largest price
increase for studio apartments in June was
Rego Park, with prices rising from $1,742
to $1,915 (a 9.9 percent increase). Rego
Park also saw the largest increase in prices
for one-bedroom units, which increased
from $2,041 to $2,158 (a 5.7 percent
increase overall).
Ridgewood and Jackson Heights each
saw decreases in their average studio pricing
in June 2019. Studios in Ridgewood
decreased from $1,738 to $1,675, marking
a 3.6 percent drop, while studios in
Jackson Heights decreased from $1,741 to
$1,702, marking a 2.2 percent drop.
Like in months past, Long Island City
had the most expensive studio, one-bedroom
and two-bedroom units in June,
with prices averaging $2,670, $3,281 and
$4,354, respectively. Jackson Heights had
the least expensive studios and one-bedrooms
units, averaging $1,659 and $1,850
respectively, while Ridgewood had the
lowest priced two-bedroom units with
prices averaging $2,379.
Rego Park had the largest increase in
average rental prices this June, rising 5.33
percent overall. MNS Real Estate attributes
the increase to the infl ux of new
luxury developments in the neighborhood.
Other neighborhoods that saw average
price increases were Long Island
City (+2.94 percent), Ridgewood (+1.46
percent), Jackson Heights (+1.16 percent)
and Forest Hills (+0.04 percent).
However, Astoria saw a 0.63 percent price
correction in June.
Read the full report at www.mns.com/
queens_rental_market_report.
Photo via Google Maps
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