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QUEENSMULTIFAMILY MARKET REPORT
1st Quarter 2016
Multifamily Market Report Overview
Multifamily Market Report Overview
Released quarterly, the Queens Multifamily Market Report is organized in six distinct sections and it is
designed as a guide to the borough’s multifamily market. The report includes key market stats, the most
up-to-date quarterly sales data, and charts that give a clear picture of current market conditions.
The first section - Multifamily Market Overview - shows the borough’s quarterly sales volume and stats on
average price per square foot and per unit. Small, medium, and large multifamily buildings are also
accounted for separately and sales stats are provided for each category.
Following a list of top 25 most expensive multifamily sales, Queens neighborhoods are ranked by average
price per square foot over the past quarter. Each neighborhood has its own one-page snapshot with stats
and trends for the local multifamily market.
Table of Contents
123456
Multifamily Market Overview
Top 25 Multifamily Sales
Map of Neighborhoods
Top Neighborhoods
Sales Maps
Stats by Neighborhood
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Multifamily Market Overview
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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Large multifamily
Medium multifamily
Small multifamily
-7% YoY
Transactions
18% YoY
Average price/unit
26% YoY
Average price/sq.ft.
42% YoY
Sales volume
Multifamily Market Overview
Queens, 1st Quarter 2016
$491.8M $298 $246K 233
$291
$
$100
$200
$300
$400Average price/sq.ft.
$213M
214
190
200
210
220
230
240
250
$
$50M
$100M
$150M
$200M
$250M
$300M
Q1-2014 Q2-2014 Q3-2014 Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016
Sales volume / Transactions
$239
$$50
$100$150$200$250$300
Average price/sq.ft.
$51M10
0
5
10
15
20
25
$
$20M
$40M
$60M
$80M
$100M
$120M
Q1-2014 Q2-2014 Q3-2014 Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016
Sales volume / Transactions
$322
$
$100
$200
$300
$400
$500Average price/sq.ft.
$228M 9
0
5
10
15
20
$
$100M
$200M
$300M
$400M
Q1-2014 Q2-2014 Q3-2014 Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016
Sales volume / Transactions
1
Top 25 Multifamily Sales
$168
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2050 29 St
15005 Northern Blvd
3225 Linden St
2425 27 St
4122 49 St
3814 108 St
13208 Sanford Ave
12-Feb-16
31-Mar-16
29-Feb-16
$3,177,242
$2,700,000
#
1
2
3
4
5
6
7
8
Address
4215 Crescent St
14220 Franklin Ave
8015 Grenfell St
8417 125 St
4129 41 St
18704 120 Ave
2030 Elk Dr
18608 120 Rd
12130 Farmers Blvd
14246 Sanford Ave
$14,500,000
$14,500,000
$13,600,000
18
19
20
21
22
23
24
25
9
10
11
12
13
14
15
16
17
$4,500,000
$4,300,000
$4,100,000
$4,000,000
$3,762,750
$3,360,000
$3,350,000
16403-16407 89 Ave
3663 37 Ave
16220 89 Ave
3090 14 St
8715 Britton Ave
4105 Skillman Ave
2351 38 St
4156 Lamont Ave
4123 24 St
8910 63 Dr
$2,550,000
$2,444,365
$2,400,000
Sale Date
17-Mar-16
11-Jan-16
25-Feb-16
25-Feb-16
21-Jan-16
03-Feb-16
06-Jan-16
03-Feb-16
03-Feb-16
29-Feb-16
27-Jan-16
16-Mar-16
08-Jan-16
16-Mar-16
01-Feb-16
Sale Price
$70,000,000
$43,000,000
$28,000,000
$25,500,000
$14,700,000
$14,500,000
$14,500,000
$8,000,000
$7,560,000
$7,000,000
$6,440,000
$4,800,000
7,850
3,007
8,350
5,169
6,270
31-Mar-16
04-Feb-16
22-Feb-16
Sq.ft.
110,743
129,304
82,091
84,605
40,800
108,300
73,806
108,300
108,300
53,727
23,100
42,880
15,475
46,464
11,830
16,160
10,100
12-Feb-16
27-Jan-16
29-Feb-16
01-Mar-16
02-Mar-16
04-Feb-16 $538
$427
$1,057
$323
$493
$390
$3936,100
Price/Sq.ft.
$632
$333
$341
$301
$360
$134
$196
$134
$134
$253
$346
$176
$452
$139
$406
$278
$426
$342
$238
12,000
16,800
22,353
6,250
Downtown Flushing
Ditmars - Steinway
Sunnyside
Corona
Downtown Flushing
Neighborhood
Hunters Point
Downtown Flushing
Kew Gardens
Kew Gardens
Sunnyside
Saint Albans
Far Rockaway
Saint Albans
Saint Albans
Downtown Flushing
Rego Park
Jamaica
LIC
Jamaica
South Astoria
Elmhurst
Sunnyside
Ditmars - Steinway
Elmhurst
LIC
Ditmars - Steinway
Murray Hill
Top 25 Multifamily Sales
Queens, 1st Quarter 2016
2
Map of Neighborhoods
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Map of Neighborhoods
Average price per square foot (past 3 years)
3
Top Neighborhoods
10
9
18
19
20
21
22
23
-
$157
-
-$117
$398
$231
$180
$245
$169
8
3
Far Rockaway 11$20,588,447$164 $196
Ditmars - Steinway
Hollis
Richmond Hill
Jamaica
Ozone Park 4
$14,802,614
$1,970,000
$5,960,000
$18,620,000
$2,044,898
$263
$231
$180
$172
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$168
-
-
-
-
-
-
-
$274
5
3
34
$16,389,199
$16,360,000
$5,575,000
$2,590,000
$35,664,297
$282
$169
-
-
-
-
-
$145
-
$270
Medium
-
-
$406
$426
-
-
-
-
-
-
-
-
$452
$258
$298
$320
$337
$282
4
No. of
sales
3
5
12
5
$421
$320
$269
$315
4
30
3
7
10
Avg. price/sqft by multifamily size
Small
$488
$407
$392
$383
$350
$325
$320
-
$321
-
-
Large
$632
-
-
$320
Average
price/sq.ft.
$625
$407
$395
$375
LIC
Elmhurst
Glendale
$274
$270
Sales volume
$72,788,000
$7,222,000
$20,068,449
$23,860,000
$3,555,000
$7,972,000
$8,140,000
$64,443,054
$4,360,000
$55,140,000
$29,908,055
$2,860,000
$319
$315
$298
$296
$291
$350
$325
$320
9
#
1
2
3
4
Jamaica Hills
Ridgewood
15
16
17
Neighborhood
Hunters Point
Murray Hill
South Astoria
Sunnyside
Jackson Heights
East Elmhurst
Maspeth
Downtown Flushing
Whitestone
Kew Gardens
Corona
Bayside
10
11
12
13
14
5
6
7
8 $320
3
9
9
6
$360
-
-
-
$309
Top Neighborhoods
Queens, 1st Quarter 2016
This is a ranking of Queens neighborhoods based on average sale price per sq.ft.
Only neighborhoods with a minimum of 3 property sales where square footage is available were considered.
4
Sales Maps
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This heat map displays the price per square foot
for properties sold in the past 5 years. The areas in
dark red are the most expensive.
Price / Sq.ft.
The map displays recent sales activity. The
areas in dark blue were the most active in terms
of closed sales.
Recent sales
Sales Maps
Queens, 1st Quarter 2016
5
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
3
0
0-
Sales volume
$2,860,000
$0
$0-
Avg. price/sqft
$298
-
-Large
Avg. price/unit
$317,778
-
- 0
BaysideQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
-12%
-
Y-o-Y
-11%
-
Sales
3
0
Units
9
0
Type of Properties Sold
0% YoY
Number of Transactions
-11% YoY
Median Sale Price per Sq.ft.
-12% YoY
Sales volume
Bayside is a suburban neighborhood with the amenities of the city
including eateries and stores. Compare the bustling pace of Bayside’s
Bell Boulevard to the green streets and single-family homes a block away
and you’ll see that this neighborhood has many personalities. It’s close to
highways, Throgs Neck Bridge, and is just thirty minutes from
Manhattan.
$2.9M
$ $2M $4M $6M $8M
$10M $12M
Sales volume
$2.9M
$298
$
$100
$200
$300
$400
$500Median Sale Price per Sq.ft.
$298
3
0
2
4
6
8
10
Q1-2013 Q2-2013Q3-2013Q4-2013Q2-2014Q3-2014Q4-2014 Q1-2015 Q2-2015Q4-2015 Q1-2016
Number of Transactions
3
6
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
30
0
0-
Sales volume
$29,908,055
$0
$0-
Avg. price/sqft
$315
-
-Large
Avg. price/unit
$282,151
-
- 0
CoronaQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
30%
-
Y-o-Y
23%
-
Sales
30
0
Units
106
0
Type of Properties Sold
7% YoY
Number of Transactions
26% YoY
Median Sale Price per Sq.ft.
8% YoY
Sales volume
Corona may be one of the most vibrant neighborhoods in Queens
thanks to the history (Malcolm X, Dizzy Gillespie, and Ella Fitzgerald all
lived here and Tiffany glass got their start here), the many ethnic foods,
and some of the best public recreational facilities around at Flushing
Meadows Corona Park. Public transportation is via the 7 train.
$29.9M
$ $10M $20M $30M $40M $50M $60M
Sales volume
$29.9M
$315
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$315
30
0
10
20
30
40
50Number of Transactions
30
7
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
6
2
0-
Sales volume
$10,440,114
$4,362,500
$0-
Avg. price/sqft
$398
$145
-Large
Avg. price/unit
$298,289
$111,859
- 0
Ditmars - SteinwayQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
3%
-71%
Y-o-Y
9%
-71%
Sales
6
2
Units
35
39
Type of Properties Sold
14% YoY
Number of Transactions
-44% YoY
Median Sale Price per Sq.ft.
-51% YoY
Sales volume
The neighborhood of many names, Steinway is also known as Astoria,
Ditmars, or Long Island City. Whatever you call it, Steinway is a 400-acre
property that was initially developed by Steinway & Sons when they
expanded to Queens in 1870. Housing includes single- and multi-family
brick and frame row houses and a few dozen Victorian red brick homes.
$14.8M
$
$10M
$20M
$30M
$40MSales volume
$14.8M
$263
$
$100
$200
$300
$400
$500Median Sale Price per Sq.ft.
$263
8
0
5
10
15Number of Transactions
8
8
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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2
Buildings
4
0
219067%
Sales volume
$7,843,054
$0
$56,600,00012864%
Avg. price/sqft
$421
-
$309Large
Avg. price/unit
$392,153
-
$270,813 209
Downtown FlushingQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
-36%
-
Y-o-Y
-16%
-
Sales
4
0
Units
20
0
Type of Properties Sold
200% YoY
Number of Transactions
2592% YoY
Median Sale Price per Sq.ft.
2920% YoY
Sales volume
Sometimes referred to as “the Chinese Manhattan,” Downtown Flushing
is a huge center of commerce, finance, and transportation. Shiny, brand
new buildings line the streets, including costly and highly sought-after
condos. Residents love the 24/7 vibe, specialty stores, eateries, bakeries,
and quick and easy transportation to Manhattan.
$64.4M
$
$50M
$100M
$150MSales volume
$64.4M
$320
-$200$
$200$400$600$800
$1,000$1,200
Median Sale Price per Sq.ft.
$320
6
0
2
4
6
8Number of Transactions
6
9
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
9
0
0-
Sales volume
$7,972,000
$0
$0-
Avg. price/sqft
$325
-
-Large
Avg. price/unit
$284,714
-
- 0
East ElmhurstQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
56%
-
Y-o-Y
42%
-
Sales
9
0
Units
28
0
Type of Properties Sold
-31% YoY
Number of Transactions
42% YoY
Median Sale Price per Sq.ft.
-5% YoY
Sales volume
In a city where nothing ever stays the same, there are a few exceptions.
East Elmhurst is one of them. The neighborhood is made up of small
stucco and Cape Cod homes and, according to the census, residents stay
longer in their East Elmhurst homes than in any of the other 2,000 census
tract areas. Most homes are two-story single-family residences.
$8.0M
$
$2M
$4M
$6M
$8M
$10MSales volume
$8.M
$325
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$325
9
0
5
10
15Number of Transactions
9
10
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
8
2
0-
Sales volume
$7,860,000
$8,500,000
$0-
Avg. price/sqft
$337
$258
-Large
Avg. price/unit
$291,111
$229,730
- 0
ElmhurstQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
13%
-
Y-o-Y
20%
-
Sales
8
2
Units
27
37
Type of Properties Sold
-47% YoY
Number of Transactions
4% YoY
Median Sale Price per Sq.ft.
-37% YoY
Sales volume
Elmhurst is a mixture of old multi-family homes, co-ops, and apartment
buildings. It’s one of the most diverse areas of Queens and has more
subway options than any other neighborhood in Queens except Long
Island City. Gas Tank Park is its six-acre park with lush landscaping and
recreational opportunities.
$16.4M
$ $10M $20M $30M $40M $50M $60M
Sales volume
$16.4M
$291
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$291
10
05
1015202530
Number of Transactions
10
11
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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1
Buildings
11
0
1-
Sales volume
$6,088,447
$0
$14,500,000-
Avg. price/sqft
$117
-
$196Large
Avg. price/unit
$132,358
-
$179,012 81
Far RockawayQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
68%
-
Y-o-Y
33%
-
Sales
10
0
Units
46
0
Type of Properties Sold
-15% YoY
Number of Transactions
87% YoY
Median Sale Price per Sq.ft.
413% YoY
Sales volume
Folks searching for a wide variety of housing types find just what they’re
looking for in the Far Rockaway neighborhood of Queens. While one
street may have 1900s shingle homes, the next street may have Dutch
Colonial wood-frame homes that’ve been adapted for two families, and
the street on the other side could be all stucco-fronted Cape Cods.
$20.6M
$
$20M
$40M
$60M
$80MSales volume
$20.6M
$164
$
$50
$100
$150
$200
$250Median Sale Price per Sq.ft.
$164
11
0
5
10
15
20
25Number of Transactions
11
12
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
5
0
0-
Sales volume
$5,575,000
$0
$0-
Avg. price/sqft
$282
-
-Large
Avg. price/unit
$242,391
-
- 0
GlendaleQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
6%
-
Y-o-Y
-3%
-
Sales
5
0
Units
23
0
Type of Properties Sold
25% YoY
Number of Transactions
3% YoY
Median Sale Price per Sq.ft.
-35% YoY
Sales volume
The upper-middle-class community of Glendale has no connection to the
NYC subway system but has plenty of trees, parks, and a cooler
microclimate than other neighborhoods in Queens. Made up of three
areas, Upper, Middle, and Lower, this is a community with many different
facets, historic housing styles, and a wealth of restaurants and shops.
$5.6M
$
$2M
$4M
$6M
$8M
$10MSales volume
$5.6M
$282
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$282
5
0
2
4
6
8
10Number of Transactions
5
13
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
3
0
0-
Sales volume
$1,970,000
$0
$0-
Avg. price/sqft
$231
-
-Large
Avg. price/unit
$218,889
-
- 0
HollisQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
36%
-
Y-o-Y
43%
-
Sales
3
0
Units
9
0
Type of Properties Sold
50% YoY
Number of Transactions
43% YoY
Median Sale Price per Sq.ft.
104% YoY
Sales volume
Located on the southeastern border of Queens, Hollis is accessible by the
Long Island Rail Road at the Hollis Station, which is served primarily by
the Hempstead Branch. There are also numerous buses throughout the
area and a nearby subway stop at Jamaica Center that serves the E, J, and
Z trains. Most properties are single-family homes.
$2.0M
$ $5M
$10M $15M $20M $25M $30M
Sales volume
$2.M
$231
$$50
$100$150$200$250$300
Median Sale Price per Sq.ft.
$231
3
0
2
4
6
8
Q1-2013 Q3-2013Q4-2013 Q1-2014 Q3-2014Q4-2014 Q1-2015 Q2-2015Q3-2015Q4-2015 Q1-2016
Number of Transactions
3
14
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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1
Buildings
2
0
1-
Sales volume
$2,788,000
$0
$70,000,000-
Avg. price/sqft
$488
-
$632Large
Avg. price/unit
$348,500
-
$560,000 125
Hunters PointQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
-
-
Y-o-Y
-
-
Sales
2
0
Units
8
0
Type of Properties Sold
-
Number of Transactions
-
Median Sale Price per Sq.ft.
-
Sales volume
Just one subway stop away from Midtown, Hunters Point is in the
process of being transformed into a premier residential neighborhood.
Home to both the only skyscraper in Queens and the NY State Supreme
Court House, this area is diverse, bustling, and offers many restaurants,
bars, art galleries, and green spaces.
$72.8M
$
$20M
$40M
$60M
$80MSales volume
$72.8M
$625
$
$200
$400
$600
$800Median Sale Price per Sq.ft.
$625
3
0
1
2
3
4
5
6
Q1-2013 Q2-2013Q3-2013Q4-2013Q2-2014Q3-2014Q4-2014Q2-2015Q3-2015Q4-2015 Q1-2016
Number of Transactions
3
15
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
3
0
0-
Sales volume
$3,555,000
$0
$0-
Avg. price/sqft
$350
-
-Large
Avg. price/unit
$323,182
-
- 0
Jackson HeightsQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
31%
-
Y-o-Y
25%
-
Sales
3
0
Units
11
0
Type of Properties Sold
-40% YoY
Number of Transactions
25% YoY
Median Sale Price per Sq.ft.
-24% YoY
Sales volume
With several subway stations – and situated only three stops from
Midtown – Jackson Heights is a popular neighborhood that makes
commuting a breeze. The neighborhood has a population of over
100,000 people. Residents support their local bakeries, legal offices,
salons, restaurants, and shops.
$3.6M
$
$20M
$40M
$60M
$80M
$100MSales volume
$3.6M
$350
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$350
3
0
5
10
15
20Number of Transactions
3
16
-
Sales volume
$4,620,000
$14,000,000
$0-
Avg. price/sqft
$245
$157
-Large
Avg. price/unit
$210,000
$170,732
- 0
JamaicaQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
38%
88%
Y-o-Y
21%
-9%
Sales
7
2
Units
22
82
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
7
2
0
Type of Properties Sold
-10% YoY
Number of Transactions
-4% YoY
Median Sale Price per Sq.ft.
83% YoY
Sales volume
Named the hottest neighborhood in NYC in 2015, Jamaica offers easy
access to the subway and Long Island Railroad, has relatively low prices,
and features a wide array of parks, ponds, eateries, and stores. Homes
vary from single-family mansions to cramped multi-family homes and
though prices are on the rise they’re still within reach for most.
$18.6M
$
$10M
$20M
$30M
$40MSales volume
$18.6M
$172
$
$50
$100
$150
$200
$250Median Sale Price per Sq.ft.
$172
9
0
5
10
15
20Number of Transactions
9
17
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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Large
Avg. price/unit
$287,778
-
-
98%
-
Y-o-Y
133%
-
Sales
3
0
Units
9
0
0
Buildings
3
0
0-
Sales volume
$2,590,000
$0
$0-
Avg. price/sqft
$274
-
- 0
Jamaica HillsQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
Type of Properties Sold
200% YoY
Number of Transactions
133% YoY
Median Sale Price per Sq.ft.
494% YoY
Sales volume
As the name implies, there are plenty of hills in Jamaica Hills, which offer
incredible views and cozy breezes on hot summer nights. Most housing
stock is made up of single-family homes though some three- and four-
story multi-family buildings have been developed in the past decade.
Transport options include subway service and a LIRR station.
$2.6M
$
$500,000
$1M
$2M
$2M
$3M
$3M
Q2-2013 Q4-2013 Q2-2014 Q3-2014 Q4-2014 Q1-2015 Q3-2015 Q4-2015 Q1-2016
Sales volume
$2.6M
$274
$
$100
$200
$300
$400
Q2-2013 Q4-2013 Q2-2014 Q3-2014 Q4-2014 Q1-2015 Q3-2015 Q4-2015 Q1-2016
Median Sale Price per Sq.ft.
$274
3
0
1
2
3
4
Q2-2013 Q4-2013 Q2-2014 Q3-2014 Q4-2014 Q1-2015 Q3-2015 Q4-2015 Q1-2016
Number of Transactions
3
18
$269
-
$321Large
Avg. price/unit
$273,333
-
$226,695
Kew GardensQueens, 1st Quarter 2016
Multifamily size
$53,500,000-
Avg. price/sqft
236
Medium
Y-o-Y
156%
-
Y-o-Y
250%
-
Sales
2
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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2
Buildings
2
0
2-
Sales volume
Small 6
0
$1,640,000
$0
Units
Type of Properties Sold
300% YoY
Number of Transactions
315% YoY
Median Sale Price per Sq.ft.
17131% YoY
Sales volume
The small, charming neighborhood of Kew Gardens is smack dab in the
middle of Queens and is known for its curving streets. With a diverse,
middle-class population, housing options are various: garden
apartments, co-ops, multi-family homes, and single-family homes.
There’s a station on the Long Island Railroad and lots of green space.
$55.1M
$ $10M $20M $30M $40M $50M $60M
Sales volume
$55.1M
$319
$
$100
$200
$300
$400
$500Median Sale Price per Sq.ft.
$319
4
0123456
Number of Transactions
4
19
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Large
Avg. price/unit
$255,748
$241,379
$47,630
LICQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
1
Buildings
5
1
1-
Sales volume
$5,626,449
$7,000,000
$3,762,750-
Avg. price/sqft
$320
$452
$168 79
29
Y-o-Y
1%
33%
Y-o-Y
-18%
74%
Sales
5
1
Units
22
Type of Properties Sold
-30% YoY
Number of Transactions
-10% YoY
Median Sale Price per Sq.ft.
8% YoY
Sales volume
Long Island City, often referred to as simply LIC, offers extra-wide
roadways, sprawling greenery, and incredible architecture everywhere
you look – including on fences, walls, and siding. This artsy
neighborhood is home to several galleries, show spaces, and artists.
Once an industrial hub, there are many expansive converted lofts here.
$16.4M
$
$5M
$10M
$15M
$20MSales volume
$16.4M
$296
$
$100
$200
$300
$400
$500Median Sale Price per Sq.ft.
$296
7
02468
1012
Number of Transactions
7
20
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
Sales
9
0
0
Buildings
9
0
0
Y-o-Y
41%
-
-
Sales volume
$8,140,000
$0
$0
Y-o-Y
18%
-
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-
Avg. price/sqft
$320
-
-
MaspethQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Large
Avg. price/unit
$271,333
-
-
Units
30
0
0
Type of Properties Sold
200% YoY
Number of Transactions
41% YoY
Median Sale Price per Sq.ft.
254% YoY
Sales volume
Referred to by locals as “old-school Queens,” Maspeth is full of
restaurants and small, locally owned shops. The Maspeth Plateau is the
last high ground in Queens and has excellent views of the Manhattan
skyline. There is no direct subway access but Middle Village’s M station is
reasonably close by. Parks and green spaces are aplenty.
$8.1M
$ $2M $4M $6M $8M
$10M $12M
Sales volume
$8.1M
$320
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$320
9
0
5
10
15Number of Transactions
9
21
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
5
0
0
-
-Large
Avg. price/unit
$380,105
-
-
Murray HillQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Y-o-Y
1%
-
Y-o-Y
20%
-
Sales
5
0
Units
19
0
0-
Sales volume
$7,222,000
$0
$0-
Avg. price/sqft
$407
Type of Properties Sold
-17% YoY
Number of Transactions
68% YoY
Median Sale Price per Sq.ft.
-67% YoY
Sales volume
A part of Flushing, Murray Hill in Queens should not be confused with
the more famous Murray Hill in Manhattan. The Queens version is just
beyond the end of the number seven subway line and housing options
are mostly limited to midrise brick apartments and single-family houses.
It’s an affordable, low-key, quiet neighborhood that’s transitioning.
$7.2M
$ $20M $40M $60M $80M
$100M $120M
Sales volume
$7.2M
$407
$
$100
$200
$300
$400
$500Median Sale Price per Sq.ft.
$407
5
0
5
10
15
20Number of Transactions
5
22
$0-
Avg. price/sqft
$169
-
-Large
Avg. price/unit
$170,408
-
-
Ozone ParkQueens, 1st Quarter 2016
12$2,044,898
$0 0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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0
Buildings
4
0
0-
Sales volumeMultifamily size
Small
Medium
Y-o-Y
25%
-
Y-o-Y
-9%
-
Sales
4
0
Units
Type of Properties Sold
-20% YoY
Number of Transactions
-9% YoY
Median Sale Price per Sq.ft.
-25% YoY
Sales volume
The densely populated Ozone Park has a mix of single-family and
multifamily houses, with a few small apartment buildings mixed in.
Residents have easy access to the Belt Parkway and the A subway line.
While parking is challenging on the commercial thoroughfares, it’s easy
to find a space on residential streets. Atlantic Avenue has many local
businesses.
$2.0M
$
$2M
$4M
$6M
$8MSales volume
$2.M
$169
$
$50
$100
$150
$200
$250Median Sale Price per Sq.ft.
$169
4
0
5
10
15Number of Transactions
4
23
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0
Richmond HillQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Large
Avg. price/unit
$186,250
-
-
Y-o-Y
-2%
-
-
Avg. price/sqft
$180
-
-
Y-o-Y
-16%
-
-
Sales volume
$5,960,000
Units
32
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
$0
$0
Sales
10
0
0
Buildings
10
0
Type of Properties Sold
67% YoY
Number of Transactions
-16% YoY
Median Sale Price per Sq.ft.
50% YoY
Sales volume
Lined with Victorian-era homes, the streets of Richmond Hill are made
up primarily of single- and multi-family homes and a few apartments.
The northern border of Richmond Hill has larger homes with adorned
gables and impressive verandas. This neighborhood is well-served by the
subway and commuters can get directly to Manhattan in an hour.
$6.0M
$
$5M
$10M
$15M
$20MSales volume
$6.M
$180
$
$50
$100
$150
$200
$250Median Sale Price per Sq.ft.
$180
10
0
5
10
15
20Number of Transactions
10
24
Medium
Large
Avg. price/unit
$236,187
-
-
Y-o-Y
14%
-
-
RidgewoodQueens, 1st Quarter 2016
Multifamily size
Small
Avg. price/sqft
$270
Sales
34
0
0
Buildings
34
0
0
Units
151
0
0
-
-
Y-o-Y
11%
-
-
Sales volume
$35,664,297
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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Type of Properties Sold
6% YoY
Number of Transactions
-6% YoY
Median Sale Price per Sq.ft.
-31% YoY
Sales volume
Ridgewood feels more like Brooklyn than Queens, thanks to the many
brick and stone two-story homes built in the early 20th century. This is a
high-density area that’s close to Williamsburg and is less than 45
minutes from Manhattan. There are no condos and few single-family
homes. Transportation options include local and express buses and
trains.
$35.7M
$
$20M
$40M
$60M
$80MSales volume
$35.7M
$270
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$270
34
0
10
20
30
40
50Number of Transactions
34
25
South AstoriaQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Large
Avg. price/unit
$293,624
$282,353
-
Y-o-Y
8%
-1%
-
Avg. price/sqft
$392
$406
-
Y-o-Y
35%
12%
-
Sales volume Units
52
17
0
Sales
11
1
0
Buildings
11
1
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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$15,268,449
$4,800,000
$0
Type of Properties Sold
-25% YoY
Number of Transactions
21% YoY
Median Sale Price per Sq.ft.
-58% YoY
Sales volume
Located on the East River, South Astoria has a population of more than
150,000 and is often referred to as Ditmars by its residents. Four-story
buildings are a rarity and parking is relatively easy to find. Ditmars
Boulevard is the main strip and is lined with both houses and shops.
South Astoria is home to the oldest and largest swimming pool in NYC.
$20.1M
$
$50M
$100M
$150M
$200M
$250MSales volume
$20.1M
$395
$$100$200$300$400$500$600
Median Sale Price per Sq.ft.
$395
12
0
10
20
30
40Number of Transactions
12
26
Queens, 1st Quarter 2016
1
Multifamily size
Small
Medium
Large
Avg. price/unit
$270,000
$268,750
$294,000
Y-o-Y
16%
Buildings
3
1
1
Sunnyside
Units
18
16
50
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
Y-o-Y
34%
-
-
Sales volume
$4,860,000
$4,300,000
$14,700,000
Sales
3
1-
-
Avg. price/sqft
$383
$426
$360
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Type of Properties Sold
67% YoY
Number of Transactions
31% YoY
Median Sale Price per Sq.ft.
752% YoY
Sales volume
Just fifteen minutes from Manhattan via the #7 subway, Sunnyside is a
small neighborhood with an urban feel that includes numerous six-story
buildings. There are many transportation options, tons of restaurants,
and housing options include co-ops, single-family and multifamily
homes, and a wealth of rental apartments.
$23.9M
$ $20M $40M $60M $80M
$100M $120M
Sales volume
$23.9M
$375
$
$100
$200
$300
$400Median Sale Price per Sq.ft.
$375
5
0
2
4
6
8
10Number of Transactions
5
27
9%
-
Buildings
4
0
0
Units
12
0
0-
Avg. price/sqft
$320
-
-
Y-o-Y
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
-
Sales volume
$4,360,000
$0
$0
Sales
4
0
0
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WhitestoneQueens, 1st Quarter 2016
Multifamily size
Small
Medium
Large
Avg. price/unit
$363,333
-
-
Y-o-Y
10%
-
Type of Properties Sold
300% YoY
Number of Transactions
9% YoY
Median Sale Price per Sq.ft.
340% YoY
Sales volume
A good neighborhood for highway access, Whitestone includes both
multi-million dollar waterfront mansions and modest single and multi-
family homes with a few apartment buildings throughout. There are no
subway stations within Whitestone but Flushing is nearby and provides
access to the subway and the Long Island Rail Road.
$4.4M
$
$2M
$4M
$6M
$8M
$10MSales volume
$4.4M
$320
$
$100
$200
$300
$400
$500Median Sale Price per Sq.ft.
$320
4
0
1
2
3
4
5
Q1-2013 Q2-2013Q4-2013 Q1-2014 Q2-2014Q3-2014Q4-2014 Q1-2015 Q3-2015Q4-2015 Q1-2016
Number of Transactions
4
28
Attractions
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Rockaway Beach
Attractions
Queens, 1st Quarter 2016
Flushing Meadow
29
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