Tag Archives: Douglas Elliman

See It: Live luxuriously by the bay in Douglaston Manor for $2.67M

By Queens Courier Staff | editorial@queenscourier.com

Photos courtesy of Douglas Elliman Real Estate/MLSLI

Douglaston may only be a half-hour train ride from the heart of Manhattan, but one mansion in the neighborhood on the market has the look and feel of a Mediterranean villa.

Currently offered by Douglas Elliman Real Estate, the mansion at 122 Grosvenor St. is described as “Tuscany meets New York,” a sprawling 1920s-style Mediterranean home featuring six bedrooms, 4 1/2 baths and more than 10,000 square feet of exterior space.

The home also has spacious views of Little Neck Bay and is within walking distance of both the Douglaston Country Club and Douglas Manor Dock. Listed at $2,670,000 with an annual real estate tax of $16,458, the mansion offers its future owner a North Shore experience with Queens taxes.

To learn more about the mansion and take a video tour of it, click here.


Queens rents take dive, but home market still strong: report

| rpozarycki@queenscourier.com

THE COURIER/File photo

Is the rent too damn low in Queens? Not quite, but average rental prices in the “World’s Borough” plunged by nearly 11 percent over the last year, according to a report from Douglas Elliman Real Estate.

Median rents were down 10.7 percent in Queens year-over-year while overall inventory was also down 11.9 percent, the report noted. The average rental price in June was $2,749, or $40.15 per square foot. Last June, the average rent was $2,896, or $45.69 per square foot.

The report, which analyzed the market in northwest Queens, reflected overall “weaker results” in that region. Results, however, “were mixed across apartment sizes as median rental prices of studio and three-bedroom [units] were higher, while one- and two-bedroom apartments were lower respectively.”

Landlords also had to wait longer to rent out their units, as the average number of days on the market increased from 31 to 36 days over the last year.

Even with the nearly 11 percent dip, renting an apartment in Queens isn’t exactly cheap. The average studio apartment in June 2015 went for $2,348, while the average apartment with three or more bedrooms was $10 shy of $4,000.

While the rental market took a hit, sales in Queens were strong during the second quarter in 2015, Douglas Elliman reported. The median sales price rose 8.5 percent to $385,001 over the last year, marking “the fourth consecutive quarterly increase and the 10th gain in the past 12 quarters.”

The median co-op price rose 5.4 percent to $215,000, while the condo median prices surged by 12.8 percent to a new record of $468,000. The median price for a one- to three-family home also spiked by 6.3 percent to $510,000.

Further reflecting a sellers’ market, the inventory of available one- to three-family homes, as well as co-ops and condominiums, dropped 12.6 percent. Sales increased 5.6 percent, and the average time on market for listings dropped to 92 days, down from 110 at the same time last year.


See it: Nearly $3M Queens mansion has a new owner

| lguerre@queenscourier.com

Photos courtesy of Zillow and MLSLI 

Another Malba mansion is off the market.

The jumbo residence at 7 Summit Pl. in the affluent Queens enclave sold for $2.85 million, according to property records filed with the city on Friday.

The home has more than 7,300 square feet of living space and sits on a 10,500-square-foot lot. It has five bedrooms and six and a half bathrooms, and features a first floor with radiant heat marble flooring and a family room with a fireplace.

The home also has a spacious yard, a patio, and an attached garage with a driveway, but most interesting of all, the master suite has a staircase that leads to private views of the Bronx-Whitestone Bridge from above the home.

Built in 2001, the property was listed at $3.39 million by Douglas Elliman, so it seems the buyer got it at a bargain price.



Queens apartment sizes getting smaller: report

| lguerre@queenscourier.com

Photo courtesy of Douglas Elliman

Queens is shrinking.

Maybe not geographically, but new rental apartments in the borough tend to be smaller studios and one-bedrooms as opposed to larger two- and three-bedroom apartments, according to a report released Thursday by Douglas Elliman Real Estate.

Smaller apartments took more of the market share in November when compared to October, as well as when compared to November of 2013, according to the firm’s monthly analysis, which tracks rentals in northwest Queens.

In November, 76 percent of new apartments were studios and one bedrooms, compared to 71 percent in October, and just 60 percent in November of last year.

“The majority of renters, particularly younger renters, are very sensitive to price thresholds,” said Clifford Finn, executive vice president of new rentals at Douglas Elliman. “Construction costs increased, land costs increased, and in general, unless you’re dealing with a specific building that is catering to a real luxury market or large apartment market, the majority of your run-of-the-mill rentals cater to a somewhat younger crowd. The apartments are getting a little tighter so that the rents don’t go up too much.”

But although the sizes of apartments are shrinking, values have continued to increase.

Rent price per square foot increased 8.2 percent to $40.96 dollars in November from $38.27 during the same month last year, according to the report.

To sell these smaller apartments, Finn said owners have begun to market larger common spaces and building amenities in new developments.

“A lot of the newer rental buildings have really stepped up their amenity programming and their common areas by providing bigger and more functional common spaces,” Finn said. “By having that space that you can leave your apartment, you need less of your apartment so its enabling us to market smaller apartments. People are looking at these amenity spaces as almost part of their apartments.”

Since smaller apartments still have lower rents than bigger ones, average rents in November decreased, the survey found. The average renter paid $2,681 in November, which is 9.5 percent lower than last year, when the average price was $2,963.

And of course, renters will still be better off with Queens prices than those of some other boroughs. Median rents in Queens were $710 less than those in Manhattan and $423 less than those in Brooklyn, according to the report.

Read the full report here.


Real estate roundup: Tour of TWA Flight Center before transformation, two new Korean eateries coming to Astoria

By Queens Courier Staff | editorial@queenscourier.com

Photo courtesy of Evan P. Cordes

Touring Saarinen’s Iconic TWA Terminal Before Redevelopment

“Crowds brave enough to make their way to JFK Airport on Saturday were transported back to the 1960s. The TWA Flight Center opened its doors as part of this year’s Open House New York weekend, and some visitors were even decked out in their vintage TWA attire.” Read more [Curbed]

New French bakery just days away from opening

“A new French bakery is about to open in Hunters Point. Cannelle Patisserie, a popular French bakery that opened in Jackson Heights more than six years ago, will be opening in the next week to 10 days.” Read more [LIC Post]

Two Korean restaurants to open in Astoria

Astoria is about to get a big taste of Korea. Two new Korean restaurants are expected to open in the next month, with one located on Broadway and the other on 30th Avenue.” Read more [Astoria Post]

Douglas Elliman announced The Pearson Court Square is fully leased in just four months

“Douglas Elliman Development Marketing, is pleased to announce The Pearson Court Square, a 14-story 197-unit rental building in the increasingly popular Court Square neighborhood of Long Island City, has been fully leased in just under four months.” Read more [The Court Square Blog]

Queens’ Morning Roundup

| ctumola@queenscourier.com

morning roundup


Thursday: Overcast with thunderstorms and rain showers. High of 84. Winds from the WSW at 5 to 10 mph. Chance of rain 70% with rainfall amounts near 0.3 in. possible. Thursday Night: Overcast with a chance of a thunderstorm and a chance of rain. Low of 72. Winds from the WNW at 5 to 10 mph shifting to the North after midnight. Chance of rain 50%.

EVENT OF THE DAY: New York Philharmonic Concerts in the Park

The New York Philharmonic and Music Director Alan Gilbert leads a free concert featuring Principal Cello Carter Brey in Cunningham Park at 8 p.m. Click here for more info or to submit an event of your own

NYC officials, foes testify on Willets Point plans

A $1 billion shopping mall planned for the parking lot of the New York Mets’ stadium would spearhead a major transformation of a blighted neighborhood, developers testified Wednesday. Read more: NBC New York

Prices for co-ops, condos and houses in Queens soared 11% over last year, Douglas Elliman says

Queens real estate is on the up and up. Sales are up, and prices are, too. Read more. New York Daily News 

FAA new rules: Co-pilots must have more flight time to be certified

The FAA has announced new rules will soon require co-pilots to have more flight time before they can be commercial pilots. Read more: NBC New York

Average New York City rent tops $3,000 per month

The fact that renting an apartment in New York City is expensive is as obvious to most people as the fact that the sky is blue. Read more: CBS New York 

$100K Reward for info in Swiss-NY airline money theft

The FBI is offering a $100,000 reward for information leading to the recovery of $1.2 million that disappeared at JFK Airport and to the arrest of those responsible. Read more: Fox New York

Boston bombing suspect pleads not guilty

His arm in a cast and his face swollen, a blase-looking Dzhokhar Tsarnaev pleaded not guilty Wednesday in the Boston Marathon bombing in a seven-minute proceeding that marked his first public appearance since his capture in mid-April. Read more: AP