REAL ESTATE
Report: Investment property sales on the rise in Queens
BY EMILY DAVENPORT
edavenport@qns.com / @QNS
While the number of transactions in
Queens dropped slightly during the fi rst
half of the 2018, the dollar price for investment
Sales in Queens HOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
FLUSHING WOODSIDE BELLEROSE HOWARD BEACH
Under $500,000
199-19 17th Ave., Whitestone
$358,000
Co-Op
2 bedrooms, 1 bathroom
William Liu
East Coast Realtors
$500,000-$900,000
4545 156 St., Flushing
$890,000
Colonial
3 bedrooms, 2 bathrooms
Jingham Li
Apple Realty Group
Over $900,000
204-03 42nd Ave., Bayside
$1,298,000
2 Story, 2 families
5 bedrooms, 2 ½ bathrooms
Siang Liu
Block and Lot Real Estate SVC
Under $500,000
46-01 39th Ave., Sunnyside
$218,888
Studio
1 bathroom
Elizabeth Zarate
Zarate Realty Group
$500,000-$900,000
25-69 38th St., Astoria
$549,000
Condo
1 bedroom, 1 bathroom
Evangelia Kontis
Realty Executives Today
Over $900,000
30-94 50th St., Woodside
$1,680,000
Contemporary, 2 families
8 bedrooms, 5 bathrooms
Xiao Zhong Chen
Charles Rutenberg Realty
Under $500,000
109-31 197th St., Jamaica
$474,900
Colonial
3 bedrooms, 1 ½ bathroom
Paul Luciano
Utopia Real Estate
$500,000-$900,000
147-43 Hoover Ave., Briarwood
$629,999
Colonial
2 bedrooms, 2 ½ bathrooms
Shahnewez Qurashi
Exit Realty Prime
Over $900,000
86-24 239th St., Bellerose
$1,089,000
Colonial, 2 families
6 bedrooms, 3 bathrooms
Jagmeet Singh
Cross Island Realty One
Under $500,000
99-61 163rd Rd., Howard Beach
$239,900
Bungalow
2 bedrooms, 1 bathroom
Ken MacBride
Fillmore Real Estate Fusion
$500,000-$900,000
91-15 86th Dr., Woodhaven
$749,999
2 Story, 2 families
6 bedrooms, 2 bathrooms
Joseph Barretta
Metro Net Realty LLC
Over $900,000
10506 92nd St., Ozone Park
$1,150,000
2 Story, 2 families
6 bedrooms, 2 ½ bathrooms
Nison Izgelov
Real Estate Concept Group
properties in Queens saw an increase,
according to a new report released by the
Real Estate Board of New York (REBNY).
According to the report, the city saw
a 20 percent increase in total dollar consideration,
fi nishing the fi rst half of 2018
with $21.6 billion in sales compared to
$18 billion the fi rst half of 2017. Dollar
consideration increased year-over-year in
Manhattan, Brooklyn and Queens, while
the Bronx and Staten Island saw a dip in
this category.
“Following two consecutive years of
decline in citywide investment sales consideration,
overall consideration has
increased,” said John H. Banks, REBNY
president. “Investors are making commitments
to smart, long-term assets and stoking
activity within various property categories.”
Overall, investment sales consideration in
Queens had a 7 percent increase to $2.2 billion
in the fi rst half of 2018 from $2.0 billion
in the fi rst half of 2017. However, Queens
saw a 6 percent decrease in transactions
year-over-year, with a total of 517 transactions
in the fi rst half of 2018 compared
to 557 transactions in the fi rst half of 2017.
Th e total number of transactions across
the fi ve boroughs had a 9 percent decrease
in the fi rst half of 2018 compared to the
fi rst half of 2017, dropping from 2,419 sales
to 2,200.
Of the transactions in Queens, multifamily
rental buildings without an elevator
garnered the most consideration with
135 sales, taking 26 percent of the borough’s
sales. Th e sales of garages/gas stations/
vacant land was close behind with
115 transactions, or 22 percent of all sales
in the borough.
To read the full report, visit rebny.com. Photo: Shutterstock
link
link
