WHY INVEST IN ASTORIA, QUEENS?

This month I ask that you look over at the East River Waterfront and ask yourself, "What are they building over there?" 

For years, real estate prognosticators have been saying that Astoria would be the Next Big Thing in New York real estate, and while it hasn’t seen a development boom on par with places like Williamsburg or Downtown Brooklyn, more and more apartments are coming to the Queens neighborhood._ Curbed NYC.

Coupled with an eminent Buyer's Market, this Fall I welcome you to explore your options of home ownership through working with TOWN Residential.

The Countries Fastest Growing Neighborhood - Long Island City

They say the best view of NYC is now, from outside of NYC.  Since 2010, more than 12,000 apartments have been built in Long Island City, with over 9,000 more on the way. That’s more than in any other neighborhood in any other city in the country. According to NY Magazine. 

As we move north from Williamsburg, to Greenpoint, Long Island City and Astoria, it's interesting to note the shift in price per square foot and a two week increase in days on the market for properties trying to sell as compared to last year. It's evident that developers are testing both demand and price per square foot in many newer buildings, competing among traditional homes in existing neighborhoods. Despite this, reports state that new development closings led the increase in market wide sales as resale condo sales were level year-over-year and resale co-op sales actually fell 6% versus the same period.

As per StreetEasy, the median sales price for a a new development condo in Astoria or Long Island City is $1,020,000 and the median rental price is $3,300. ...prices that much resemble Williamsburg's transformation.  So, I ask you as my buyers... is Astoria/LIC the new Williamsburg?
 

Top 3 Queens Buildings
1. The Verona in Astoria has now begun to close with only 4 units left. 
2. The Jackson in Hunters Point, 7 units left. 
3. The Harrison , 1 bedrooms under $1M.