52 DECEMBER 17, 2020 RIDGEWOOD TIMES WWW.QNS.COM
Rental prices, lease signings continue to drop in NW Queens
BY JACOB KAYE
Despite tumbling rents, the
number of new leases signed
in northwest Queens fell for
the 16th straight month in November,
according to a new report from real
estate fi rm Douglas Elliman.
The number of new leases signed
in the northwest part of the borough
dropped by 21.5 percent year over
year last month, accounting for a
nearly one and a half year, year over
year decline in signed leases, the
Although renters are signing
fewer leases, November also saw
a large number of rental units on
the market, continued declines in
median rent and a continued rise in
Last month, the median rental
price dropped by over 16 percent
when compared with November 2019,
Douglas Elliman said. The largest
decline was in the median price of
a three-bedroom unit, which were
renting, on average, for $4,600 in
November 2019. Last month, a threebedroom
unit rented for $2,850, according
to the report.
On top of the lower rental prices,
landlords also off ered concessions at
a record-setting rate last month.
The market share of landlord concessions
grew by 11.6 percent, to a
new record of 66.1 percent, according
to the report. The average amount of
a concession more than doubled, to a
record of 2.3 months on average.
But despite the discounts, renters
don’t appear to be taking the bait.
November saw a 51.1 percent increase
in total inventory when compared
to the same time period last
year. In November 2019, there were
just under 400 units available on the
market, according to the report.
This year, there were 603 available
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Listings selected at random. Courtesy MLS
62-48 60th Place, Unit 1B
1 bedroom, 1 bathroom
Michelle O Kane, O Kane Realty
80-01 Woodhaven Blvd.
5 bedrooms, 2 full and 1 half
Hai Chen, Winzone Realty Inc
18-73 Greene Ave.
8 bedrooms, 4 bathrooms
Robert Napolitano, Capri Jet
Rutledge Avenue 64th Street 79th Place
80-13 59th St.
7 bedrooms, 3 bathrooms
Sandra Awad, Prime Realty
88-49 Rutledge Ave.
3 bedrooms, 1 full and 1 half
Andrew LaSala, Crifasi Real Estate
68-28 65th St.
6 bedrooms, 3 bathrooms
Michael Bifalco, Capri Jet Realty
64-42 58th Road
2 bedrooms, 1 bathroom
Patricia America, Coldwell Banker
53-39 64 St.
3 bedrooms, 2 bathrooms
Millie Hong, East Coast REALTORS
59-45 70th St.
9 bedrooms, 3 bathrooms
Cindy Wang, E Realty International
66-83 70th St., Unit 2B
2 bedrooms, 1 full and 1 half
Louis Pastorini, Coldwell Banker
66-14 79th Place
3 bedrooms, 2 bathrooms
Sal Crifasi, Crifasi Real Estate
5716 69th Lane
9 bedrooms, 5 bathrooms
Min Zhao, E Realty International