Nov. 7, 2024 By Ethan Marshall After the average rent for roommates in New York City spiked in the aftermath of the COVID-19 pandemic, a report by the roommate-finding site SpareRoom indicated prices began to stabilize during the third quarter of 2024, reaching $1,540. After hitting its peak average roommate rent of $1,625 during the second quarter…
Nov. 6, 2024 By Athena Dawson New affordable senior housing will soon be available in downtown Jamaica. Affordable housing developer Breaking Ground announced on Wednesday, Oct. 23, that it has officially topped off its Sutphin Senior Residence located at 97-04 Sutphin Blvd. The residential building is expected to open at the end of 2025.…
Oct. 29, 2024 By Iryna Shkurhan Elon Musk is reportedly planning to open a Tesla facility in Queens. The electric car manufacturer leased the 150,000-square-foot space at 30-02 Whitestone Expwy. in College Point, according to an industrial report released earlier this month. The site was previously home to Toys “R” Us, Party WOW and…
Oct. 28, 2024 By Athena Dawson Local elected officials presented a $650,000 check to the Greater Allen Development Corporation (GADC) on Friday to support affordable housing at Allen Cathedral Apartments in Jamaica. Speaker Adrienne Adams (D-28), along with Council Members Selvena Brooks Powers (D-31) and Nantasha Williams (D-28), awarded the joint capital funding during…
Oct. 23, 2024 By Ethan Marshall Permits have been filed for the construction of a 5-story mixed-use building at 31-15 Linden Pl. in Flushing. The proposed development, located between 31st Road and 32nd Avenue, would be 45 feet tall and yield 11,690 square feet. A majority of the space will be dedicated to residential…
Oct. 22, 2024 By Ethan Marshall New York City, in partnership with L+M Development Partners, Triangle Equities and The Bluestone Organization, has launched a housing lottery for 116 units in a mixed-use building located at 3-51 Beach 35th St. in Far Rockaway. Known as Beach Green Dunes III, the building has a total of…
Oct. 21, 2024 By Iryna Shkurhan Elected officials from northeast Queens gathered at Beech Hills Apartments in Douglaston last Thursday to celebrate the signing of the Ground Lease Renewal Bill, a new law that offers co-op owners and prospective buyers greater flexibility. The bill allows co-op owners to extend or renew their ground leases…
Oct. 21, 2024 By Ethan Marshall As the first-time foreclosure market continued to slow across New York City during the third quarter of 2024 compared to the same period of time the previous year, Queens contributed immensely to this change, according to a report by the real estate agency PropertyShark. Across New York City,…
Oct. 18, 2024 By Ethan Marshall Construction has been put on hold for a 17-story mixed-use building at 3-50 St. Nicholas Ave. in Ridgewood. Known as The Ridgewood, this tower will be the tallest structure in Ridgewood. It will cover 284,000 square feet. In addition to 97,000 of that square footage being dedicated to…
Oct. 16, 2024 By Ethan Marshall The number of homes entering contract across New York City increased significantly year over year, thanks in large part to a decline in mortgage rates, according to a report by the real estate listing site StreetEasy. Over this period, there was a 26.4% increase in homes entering contracts,…