Tag: real-estate-newsletter

Average rental price in Queens rose over 3% year-over-year in February 2024: report

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Mar. 13, 2024 Ethan Marshall The average rental price of studio, one-bedroom and two-bedroom units in Queens all increased from February 2023 to February 2024, according to a report by the real estate firm M.N.S. Real Estate. The overall average cost of rent for these types of units increased 3.1% over this span, from $2,715 in 2023 to $2,800 in 2024. The Ridgewood neighborhood saw the largest month-over-month rental price increase at 5.32% . Studios experienced the most significant increase in rental price. The average rental price for these units in Queens rose 6.11% year-over-year, from $2,169 last year to…
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Mayor’s office hosts event for homeowners in southeast Queens to discuss tax exemptions and subsidies

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Mar. 13, 2024 By Athena Dawson Representatives from the mayor’s office held an event in St. Albans Tuesday to highlight the property tax breaks that available to low-income seniors and New Yorkers with disabilities.  The event, held at the St. Albans library, focused on the Senior Citizen Homeowner’s Exemption plan (SCHE), which provides a property tax break for seniors who own one-, two-, or three-family homes, condominiums, or cooperative apartments. The SCHE and DHE (Disabled Homeowners’ Exemption), the officials noted, provide tax breaks to eligible homeowners with a combined annual income of $58,399 or less. Representatives from the mayor’s Public…
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Affordable housing lottery opens in Hollis, rent set at $2,300

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Mar. 12, 2024 By Ethan Marshall A total of 15 affordable units are up for grabs at a development in southeast Queens, with a monthly rent of $2,300. The affordable units are part of a 7-story building spread across a block in Hollis at 188 Hillside Ave. The development, known as Q-188, has a total…
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New York’s senior citizens rally for housing repairs, oppose funding cuts to aging services

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Mar. 11, 2024 By Czarinna Andres and Lloyd Mitchell Senior citizens and community organizations across New York held a rally at Queens Borough Hall in Kew Gardens on Thursday, where they called for senior centers to be repaired and upgraded—and for the better services for older adults. Representatives of LiveOn NY, an advocacy group representing more than 4 million seniors and 120 living centers throughout the state, led the rally where the attendees demanded structural repairs and upgrades of senior center complexes. They also seek an increase in staffing to meet the needs of the growing senior population. The attendees…
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Landlords ignoring repairs ranked biggest problem New York State renters face: study

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Feb. 8, 2024 By Ethan Marshall The most common complaint tenants in New York State have with their landlords deals with the avoidance or mishandling of repairs, according to data collected by the moving resource site moveBuddha. This conclusion was drawn based upon an analysis of reviews by renters on the crowdsourced landlord review site…
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Average rental price in Queens remained static in January 2024: report

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Feb. 7, 2024 By Ethan Marshall The average rental price in Queens remained mostly static in January 2024 compared to December 2023, according to a report from the real estate firm M.N.S. Real Estate. There was only a 0.02% increase over that time period, with the average rent going from $2,780 to $2,781. Studio units…
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Union construction workers and elected officials demand removal of Joy Construction from Edgemere Commons mega development

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Jan. 29, 2024 By Gabriele Holtermann Construction laborers, union members, community leaders, and elected officials rallied outside Edgemere Commons on Beach Channel Drive in Far Rockaway, Queens, on Jan. 25, demanding the removal of Joy Construction as the general contractor for the mega development that consists of 11 buildings and 2,050 affordable and middle-income apartments. Laborers Local 79, which represents 10,000 construction workers in New York City, organized the rally after Joy Construction allegedly failed to report that a construction worker had been injured on site after being struck in the knee on Dec. 23 by splintered wood. The injury…
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Rents drop in NYC for first time in eight months: report

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Jan. 26, 2024 By Ethan Marshall The median rent price for one-bedroom and two-bedroom units in New York City both went down from December 2023 to January 2024, marking the first time since May that these prices went down month-over-month, according to a report by the real estate firm Zumper. The median rent for one-bedroom units in New York City decreased 2.9% from $4,161 in December 2023 to $4,040 in January 2024. Over the same period of time, two-bedroom units saw the median rent dip 6%, from $4,798 to $4,510. Despite the month-over-month decrease, New York City maintained its number…
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