RENTALS: With Manhattan rents fetching all-time high prices, Queens neighborhoods are also seeing an increase in prices. Garden homes in Sunnyside are holding strong, with recent sales reaching $925,000 for a two-family brick house with English gardens as a backyard. Strong co-op and single family homes sales come from Rego Park. "If it's priced right and near transportation to Manhattan, it sells quickly."Ĭurrently, Valentin has a development in Astoria on 30th St., where all homes with Manhattan skyline views sold quickly. "People in Queens want space for their growing families," says Harold Valestin, a senior vice president with MNS, a leading new condominium and resale group with strong representation in Brooklyn and Queens. The average cost of a home is now $391,000. That means the borough is becoming more desirable. SALES: The good news in Queens is home prices are down slightly but the number of transactions is up. By the end of 2013, Queens should be as popular a place as Brooklyn was five years ago. Other strong areas such as Astoria, Long Island City, Forest Hills, Long Island City and Rego Park have become top residential enclaves for young singles and families looking for the proximity to Manhattan and strong transportation. Glendale, Middle Village, Ridgewood and Woodside have good public schools, leafy streets and ethnic retail stretches where a gallon of milk is more than $1.50 less than in Tribeca. The borough with the most green space and strong sense of community continues to hold steady as a safe place to live and put your real estate dollar. QUEENS OUTLOOK: New Yorkers with family on their mind look to Queens to start their homeowning experience. Modern living in Astoria, Queens at the Santorini. A surprise in the rental market, studios in Canarsie are up as high as $1,300 per month, less than the monthly payments to own at MeadowWood at Gateway, a condo conversion sold and marketed by Fillmore Real Estate.
Prospect Lefferts Gardens bordering Prospect Park has strong deals, such as two-bedrooms in two-family homes for $1,600. Crown Heights and Kensington are emerging as strong rental markets for local students and artists looking for space. One-bedrooms start at $2,769, with large loft-like studios listed at $3,079 per month. The building has an inner courtyard as pretty as a suburban backyard. Sixth St., fully leased in three weeks through open houses only. Park Slope is next, up 18%, and Williamsburg is reporting a 12% increase. Rents in Brooklyn Heights are up 23% from this time last year that's more than any other neighborhood in the city. RENTALS: Brooklyn is really moving up in price in the rental sector. (James Monroe Adams IV/for New York Daily News) Studios are expected to fetch almost $3,000. An indoor pool highlights the amenities package. On the upper West Side, the Windermere puts a hip, young, Miami-style décor in a historic prewar building. When completed, the tower will be the tallest residential building in North America, surpassing New York by Gehry, just down the street. At 70 Pine, a commercial tower recently purchased by downtown loft converters Metro Lofts, over 900 units will hit the market before the building is fully restored. Two new strong rental projects will hit the market within the year. Landlord concessions are down because of the high demand all over the borough. There is even competition over apartments, with vacancy at 1.22%. Average rental prices have soared in the last year, reaching an all-time high of $3,418, according to Citi Habitats, the city's leading rental agency with more than 13,000 transactions per year. RENTALS: Flying off the shelves applies more to Manhattan rentals than it does to the new iPad.
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