REAL ESTATE
Three Queens neighborhoods maintain rising condo and apartment prices
BY EMILY DAVENPORT
edavenport@qns.com
@QNS
A new report found that the western
Queens area is continuing to see new
development and rising rental prices.
Modern Spaces recently released their
Long Island City, Astoria, and Greater
Queens Market Report for the second
quarter of 2019. Th e report examines real
estate trends for condos in Long Island
City, Astoria and Flushing from April
through June 2019.
According to their fi ndings, the Long
Island City market continued to lead the
way for new developments. While the on
the market prices of condos saw a 9 percent
Sales in QueensHOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
BAYSIDE WOODSIDE HOLLIS HILLS HOWARD BEACH
Under $500,000
57-17 Marathon Pkwy., Little Neck
$218,000
Co-op
1 bedroom, 1 bathroom
Eun Kim, Promise Northern Realty LLC
$500,000-$900,000
63-27 Douglaston Pkwy., Douglaston
$650,000
Condo
3 bedrooms, 1 full and 1 half bathrooms
Maureen Ramsbottom, Maureen Folan
Real Estate Group LLC
Over $900,000
64-21 214th St., Bayside
$968,000
Ranch
3 bedrooms, 1 bathroom
Po Wei Tair, RE/MAX 1st Choice
Under $500,000
37-50 87th St., Jackson Heights
$320,000
Co-op
1 bedroom, 1 bathroom
Kenny Eng, Keller Williams Realty
Greater
$500,000-$900,000
4330 46th St., Sunnyside
$549,000
Condo
2 bedrooms, 1 bathroom
Aslam Ansari
Over $900,000
42-13 67th St., Woodside
$1,190,000
Colonial
5 bedrooms, 3 bathrooms
Ryan Kim, E Realty International Corp.
Under $500,000
209-43 110 Ave., Queens Village
$489,000
2 Story
4 bedrooms, 2 bathrooms
Somnath Ghosh, Laff ey Real Estate
$500,000-$900,000
80-18 Springfi eld Blvd., Hollis Hills
$899,000
Colonial
3 bedrooms, 1 full and 1 half bathrooms
John Sinkevich, Daniel Gale Agency Inc.
Over $900,000
8792, 144th St., Jamaica
$1,249,000
Colonial, 2 families
8 bedrooms, 2 full and 2 half bathrooms
Mohammad Islam, United Prestige
Under $500,000
67-30 Clyde St., Forest Hills
$287,000
Co-op
1 bedroom, 1 bathroom
Christopher DeSilva, All Area Brokerage Inc.
$500,000-$900,000
15827 102nd St., Howard Beach
$769,000
Exp Cape
3 bedrooms, 2 bathrooms
Maria Zaccheo, Howard Beach Realty Inc.
Over $900,000
9427 87th St., Ozone Park
$995,000
Colonial, 2 families
6 bedrooms, 5 bathrooms
Cheng Chen, Forward NY Real Estate
Corp.
increase compared to the fi rst quarter
of 2019, closed prices saw a 4 percent
decrease year-over-year. However,
the price per square foot on closed new
development saw a 5 percent decrease
year-over-year while closed unit volume
decreased 35 percent year-over-year.
Compared to Q1-2019, Long Island
City saw an 11 percent in the price per
foot of units in contract in the second
quarter. According to Modern Spaces,
this shows that the demand in Long Island
City is remaining high for condo-buyers.
Long Island City’s rental market also
shows no signs of slowing down: net rents
rose 15 percent year-over-year, and average
net price per foot increased 9 percent
this quarter. Once again, Hunters Point
had the highest overall rent this quarter at
a price of $9,500 and made up 51 percent
of all rented units.
In Astoria, the price of closed units saw
a 4 percent decrease compared to the last
quarter. Net price per foot of condos on
the market in Astoria saw an 8 percent
increase this quarter, but decreased 7 percent
on closed units. One-bedroom condos
had the highest amount on the market
and in contract (making up 53 percent
overall), and Modern Spaces says that this
shows that Astoria is still attracting more
fi rst-time homebuyers.
Astoria’s rental market saw that the
price for average overall square feet
increased by 20 percent year-over-year.
Net price per foot in Astoria saw an 18
percent increase year-over-year and a 9
percent increase in net rent. Rental volume
of units saw a whopping 50 percent
increase this quarter.
According to Modern Spaces, Flushing’s
market in the second quarter continued
to be boosted by new development making
up the majority of closed condo sales
in the neighborhood. While the volume
of closed units increased 30 percent since
the fi rst quarter, the overall on the market
prices and closing prices for condos
decreased 4 percent and 7 percent, respectively,
since the last quarter.
File Photo, Gantry Plaza State Park in Long Island City, Queens
link
link
