Tag: real-estate-newsletter

Community Board 5 members express concerns about proposed zoning laws and cannabis shops at year-end meeting

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Dec. 14, 2023 By Anthony Medina Concerns over proposed zoning laws and the influx of cannabis shops remained the top concerns among members of Community Board 5 at its year-end meeting Wednesday night. The board meeting, held at Christ the King High School in Middle Village, also focused on quality-of-life issues, with board members and the public wanting to address issues such as rats and trash. Members also discussed the return of local civic group meetings. Maryann Lattanzio, a board member, said that rats were running rampant in Maspeth. She said the rat problem has been an issue in Ridgewood…
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Rental price growth in NYC slows for first time since pandemic: report

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Dec. 14, 2023 By Ethan Marshall The year-over-year rent growth for the month of November in New York City was 2.9%, marking the first time since the COVID-19 pandemic that it rose less than 3%, according to a new report. The real estate firm StreetEasy released the report that found the median rent fell from $3,600 in November 2022 to $3,500 last month. The slower rent growth is reflective of more homes being available for rent across the city, according to StreetEasy. Year-over-year, rentals on the market increased 8.6% in the city from 29,511 last year to 32,049 in November…
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Average rental price in Queens dipped in November: report

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Dec. 13, 2023 By Ethan Marshall The average rental price in Queens decreased in November 2o23 compared to October, according to a report by the real estate firm M.N.S. During that time, the average rental price fell 1.46%, from $2,803 to $2,762. Studios, one-bedroom and two-bedroom units experienced varying decreases in the average rental price across the borough. One-bedroom units experienced the most significant decline, falling 2.08%, from $2,729 to $2,673. Two-bedroom units had the second-largest drop, down 1.44%, from $3,424 to $3,375. The rental price for studios fell 0.75%, from $2,256 to $2,239. Ridgewood was the Queens neighborhood to…
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Affordable housing lottery opens for Queens Boulevard complex in Rego Park, Rent starts at $2,250

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Housing Lottery Vista65

Dec. 11, 2023 By Christian Murray Applications are now open to participate in an affordable housing lottery for Vista65, a 22-story mixed-use development located on Queens Boulevard in Rego Park. The tower, developed by RB Realty Capital and designed by SLCE Architects, includes 186 residences and a host of amenities. Of those units, 56 have…
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Hochul unveils master plan to bring 2,800 housing units to Creedmoor campus in eastern Queens

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Dec. 7, 2023 By Iryna Shkurhan A newly unveiled plan for the Creedmoor campus in eastern Queens seeks to bring 2,800 housing units alongside community amenities to the underutilized plot of land.  The 93-page Creedmoor Community Master Plan, made public by Governor Kathy Hochul on Dec. 6, proposes the revitalization of 48 acres of the 125 acre plot of the state-owned land. Currently 19 of the 25 buildings are sitting vacant. And in the past year, the site began to shelter some of the city’s new migrants in tent structures.  The plan proposes a grand total of 2,873 housing units…
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Op-ed: The better path to environmental sustainability for co-op, condo owners

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Dec. 7, 2023 By Former U.S. Congressman Tom Suozzi Climate change is real and we must take aggressive proactive steps to address it, but we can’t bankrupt working and middle class co-op and condo homeowners in our efforts to make change. New York City Local Law 97, with its unforgiving timelines and heavy fines, endanger the housing security of working and middle-class families who have invested their life savings into their co-ops and condos all over Queens, from Whitestone to Bay Terrace. Residents are concerned about the financial squeeze placed on them by the strict emissions caps and steep penalties…
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Housing needs and concerns of residents in lower-density districts of NYC highlighted in effort to get zoning regulations changed

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Dec. 7, 2023 By Ethan Marshall Lower-density neighborhoods in New York City are becoming more common and more diverse, according a study released by the independent research and education nonprofit Citizens Housing and Planning Council, which is dedicated to addressing the housing and planning needs in New York City. Other key findings include a desire for…
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Real estate firm predicts slowing of rent growth in NYC in 2024

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Dec. 4, 2023 By Ethan Marshall There is an expectation that the growth of rent in New York City will be much slower in 2024, according to the housing market predictions made by the real estate firm StreetEasy. At the same time, the report predicts that there will continue to be more demand for homes in the city than the amount of units available and thus preventing rents from falling. While the expectation is that inventory in New York City will further grow in 2024, it will still be smaller than the pre-pandemic levels. As a result, the rent growth…
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