Tag Archives: home sales

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.


Dr. Conrad Murray gets 4 years in jail for Michael Jackson death

| jlane@queenscourier.com

Graphic by Jay Lane

Comedian Patrice O’Neal Dead at 41

Comedian Patrice O’Neal died Tuesday morning … as a result of a stroke he suffered back in October…This according to his friends at the “Opie and Anthony” radio show. O’Neal had been a staple in the comedy world for years — and performed at the “Comedy Central Roast of Charlie Sheen” back in September. O’Neal was a regular guest on the “Opie and Anthony” radio show — and appeared on several TV shows such as “Chappelle Show,” “The Office,” and “Tough Crowd with Colin Quinn.” Opie just tweeted, “Yes it’s true that our pal Patrice O’Neal has passed away. The funniest and best thinker I’ve ever known PERIOD.” Read More: TMZ

American Airlines Has Normal Flights After Parent Company Files For Bankruptcy

American Airlines says its normal flight schedule will go on after filing for bankruptcy protection. AMR, the struggling carrier’s parent company, filed for Chapter 11 protection today. It also replaced American Airlines CEO Gerard Arpey with the company’s president, Thomas Horton. The airline says the move will help cut debt caused by high-jet fuel prices and labor problems. Travelers should not be affected for now, but the reorganization could lead to a reduced flight schedule and job cuts. American is the the third largest airline in the country and is the first major airline to file for bankruptcy since Delta in 2005. Read More: NY1

City might close Cypress Hills Collegiate Prep

Less than six years after opening its doors, a small school opened by Mayor Michael Bloomberg’s administration might be on its way to closure. Cypress Hills Collegiate Prep (CHCP), which shares space in the Franklin K. Lane building with three other schools on Jamaica Avenue in Brooklyn, received some bad news along with a “D” on its annual progress report – the city might move to close the school after only two graduating classes. Read More: Queens Courier

Iranian protesters storm British embassy

Dozens of hardline student protesters stormed the British Embassy and another British compound in Tehran Tuesday, destroying papers, reportedly setting the Union Jack flag afire and even carrying off a portrait of the Queen while staff fled to safety. Read More: New York Post

Richmond Hill family convicted of defrauding innocent victims

Three members of a Richmond Hill family have been convicted of defrauding 19 individuals, mostly members of the borough’s West Indies community, out of more than $1.8 million over a nearly six-year period by promising to assist them in obtaining “federally seized” properties in Florida and Queens at cheap prices or to assist them in gaining legal status in this country. Read More: Queens Courier

Dr. Conrad Murray gets 4 years in jail for Michael Jackson death
The disgraced doctor whose “medicine madness” killed Michael Jackson was sentenced to the maximum term of four years behind bars and a tongue-lashing Tuesday. Dr. Conrad Murray, 58, was branded a callous, reckless liar who violated his Hippocratic oath and left the King of Pop to die alone in his own bed by the judge. Read More: Daily News

Queens home sales & property values keep sliding at faster rate than rest of city
Queens homeowners are feeling the pain of the housing slump. The volume of home sales in the borough fell by 9% in the third quarter, compared with the same period last year, according to a report from NYU’s Furman Center for Real Estate and Urban Policy. The decline exceeded the drop in home sales citywide, which measured 4%. Queens also stood out when it came to declining property values. Prices in the borough have depreciated 30% from their peak levels, which were reached in the fourth quarter of 2006. Read More: Daily News

War of words between Flushing Councilman and Police Department

Antoinette Carona buried her only son on what would have been his 22nd birthday earlier this month. Carona has lived in a self-described “hell” as she waits for the killer of her son, Alex Botero, to be caught. Botero was shot execution style in an elevator of the James A. Bland Houses in Flushing on Halloween night. More than 40 residents of the Bland Houses and nearby Latimer Gardens attended a community meeting on Nov. 15 to express their concerns over safety in the area. But there was one very important element missing: The police. Not a single representative from the 109th Precinct attended, City Councilman Peter Koo said, sparking a war of words between the lawmaker and NYPD. Read More: Daily News

Civic group starts new push to get historic Forest Park Carousel landmark status 

Concerned about the fate of the Forest Park Carousel, which has been shuttered since 2008, civic leaders have launched a new effort to win the historic amusement landmark status. The city has been unable to find an operator for the hand-carved wooden carousel, crafted by Daniel Carl Muller more than 100 years ago. Read More: Daily News