Holy Crap are prices going up in Sunnyside. And this before the Historic District designation.
Just informal searching on my part, but it seems that 2 BR condos have gone from 265k to 340K in the last six months.
Check it out for yourself.
Thank the Lord for Rent Control.
Sheesh.
Thursday, March 15, 2007
Before The Flood
Subscribe to:
Post Comments (Atom)
5 comments:
Less to do with the Landmarks designation and a little more to do with the explosion of Long Island City as people suddenly realize that there's a borough across the East River that's not Brooklyn. And an area that's not Park Slope that's got townhouses.
HD designation always means higher prices.
Gentrification, too. So, it's a double whammy.
HD? They're making the neighborhood Hi-Def? Oh, right... no, it doesn't. In some cases, it can have the opposite effect. There are some landmarked buildings in Richmond Hill that have fallen into disrepair and have brought down the area, for instance. And it can also put a damper on development. It means that the one-family houses will STAY one-family houses, which means lower supply, but it also means lower demand for area merchants. Generally speaking, it can mean anywhere from a 5% to a 90% increase in prices. I *don't* expect the designation to have the top effect, because hey, it's Queens. But Astoria has grown faster in prices, and they have no Landmark designation. Jackson Heights was HDed a couple of years ago, and it grew *slower* than Astoria. Careful, Gonzo, with the "always" moniker. It doesn't "always" apply.
what the hell happened here? it's been like over a week since i've seen anything. did the rising prices send you bloggers packing? c'mon, where are you people?
Thanks for checking in, spark! We have been woefully negligent of late, due to the craziness of life & jobs & such. I promise we'll be running our mouths again real soon-
Post a Comment