Dec. 11, 2023 By Christian Murray Applications are now open to participate in an affordable housing lottery for Vista65, a 22-story mixed-use development located on Queens Boulevard in Rego Park. The tower, developed by RB Realty Capital and designed by SLCE Architects, includes 186 residences and a host of amenities. Of those units, 56 have…
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Dec. 7, 2023 By Ethan Marshall Lower-density neighborhoods in New York City are becoming more common and more diverse, according a study released by the independent research and education nonprofit Citizens Housing and Planning Council, which is dedicated to addressing the housing and planning needs in New York City. Other key findings include a desire for…
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Dec. 4, 2023 By Ethan Marshall There is an expectation that the growth of rent in New York City will be much slower in 2024, according to the housing market predictions made by the real estate firm StreetEasy. At the same time, the report predicts that there will continue to be more demand for homes in the city than the amount of units available and thus preventing rents from falling. While the expectation is that inventory in New York City will further grow in 2024, it will still be smaller than the pre-pandemic levels. As a result, the rent growth…
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Nov. 29, 2023 By Ethan Marshall The median rent price for one-bedroom units in New York City rose to an all-time high of $4,300 in November 2023, according to a report by the national real estate firm Zumper. This new high comes shortly after the median rent rose to above $4,000 for the first time…
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Nov. 28, 2023 By Ethan Marshall Queens was viewed as one of the top areas in the United States by renters throughout November 2023, according to the latest rental activity report compiled by the national real estate firm RentCafe. Queens is also the most popular rental destination in the northeastern region of the United States….
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Nov. 16, 2023 By Ethan Marshall New York City was named among the least affordable cities in the United States over the month of October, according to the latest National Affordability Report from the real estate firm RealtyHop. The Big Apple ranked as the fourth-least affordable city, moving up from the fifth place spot in the prior month’s report. The cost of a home in New York City ended up increasing, with the real estate value growing 3.8%. High interest rates and asking prices were cited as two of the main contributing factors to New York City becoming less affordable…
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Nov. 16, 2023 By Ethan Marshall The Department of City Planning announced that updates have been made to the Population FactFinder and Population MapViewer tools on its website to provide new demographic information and features on New York City’s community. These updates include information from the Census Bureau’s 2020 “Census Demographic and Housing Characteristics” file. “The latest additions to Population FactFinder and MapViewer are the next step in our ongoing work to make important demographic information about New York City accessible and transparent to all,” Department of City Planning Director Dan Garodnick said. “Our cutting-edge online tools make it easy…
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Nov. 15, 2023 By Ethan Marshall The kids are not leaving the nest. Approximately 28% of the 1.2 million millennials and 79% of the 2 million Gen Z adults in New York City have yet to leave their multigenerational homes to find their own place to live, according to a report recently released by real…
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Nov. 7, 2023 By Ethan Marshall There was a 2.94% increase in the average rental price in Queens in October 2023 compared to the same month last year, according to a report from the MNS Real Estate firm. The year-over-year increase came despite the fact that rental prices for two-bedroom units actually went down 0.48%, from $3,441 to $3,424. This is largely due to more significant increases experienced with studio (5.40%) and one-bedroom (5.46%) units. Rental prices increased in studio units from $2,140 to $2,256 and in one-bedroom units from $2,588 to $2,729. Despite the significant increase in the average…
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Nov. 6, 2023 By Ethan Marshall There appears to be a growing trend of prioritizing the looks of a home over its amenities among potential home buyers across the United States. Eric Benaim, the founder and CEO of the Queens real estate group and brokerage Modern Spaces, points to people’s desire for attention on sites like Instagram, Pinterest and TikTok for playing a big role in this growing trend. “We’re definitely seeing an uptick of people looking for apartments and homes where the developer has put a focus on design details,” Benaim said. “In the planning stages, we are working…
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