Tag: real-estate-newsletter

Third quarter of 2023 saw second-highest amount of foreclosures in Queens: report

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Oct. 11, 2023 By Ethan Marshall According to Property Shark’s foreclosure report for New York City during the third quarter of 2023, Queens experienced the second-largest amount of foreclosures this year. With 167 foreclosures in the borough, only the first quarter of 2023 saw a larger amount in Queens, with 171. Compared to the third quarter of 2022, Queens experienced a 11% year-over-year increase. There were 17 additional first-time filings that occurred. Compared to the 148 foreclosures in the previous quarter, there was a 13% increase. Elmhurst was determined to be the epicenter for Queens foreclosures. Of the 167 foreclosures…
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These Queens neighborhoods among top 10 most affordable to buy home in NYC: report

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Oct. 10, 2023 By Ethan Marshall StreetEasy identified the 23 New York City neighborhoods that have the lowest barrier to entry to become a homeowner, with 12 Queens neighborhoods making the list, including six in the top 10 for lowest median asking price. All of the neighborhoods on the list require a monthly carrying cost less than the citywide median rent of $3,500 and a minimum down payment of less than $100,000. According to StreetEasy’s analysis, buying a home in any of the 23 neighborhoods listed would require a minimum annual household income below $150,000. For two of the neighborhoods,…
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Report: NYC on pace to reach only 20% of annual housing production target

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Oct. 5, 2023 By Ethan Marshall According to the latest Multi-Family Foundation Plan Application Report conducted by the Real Estate Board of New York, the city is on pace to produce just 10,000 new units this year. This would be well short of the 50,000 unit target set by Mayor Eric Adams and housing experts…
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National rent report shows median price of one-bedroom units in NYC are now over $4K

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Sep. 27, 2023 By Ethan Marshall According to Zumper’s latest National Rent Report, the median rental price for one-bedroom units across New York City has risen above $4,000. New York City retained its rank as the most expensive city to pay rent among the 100 cities included in the study. One-bedroom units in New York City set a new record with the rent increasing 2.3% from August to September to $4,080. This also represented a 3.3% increase from September 2022. This rent is nearly 29% more than the next-highest on the list, Jersey City, which has a one-bedroom rent of…
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Rental competitivity report shows high demand in NYC

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Sep. 25, 2023 By Ethan Marshall According to RentCafe’s latest rental competitivity report, New York City has been facing rising competition when it comes to apartments. This surge is due in large part to Manhattan and Brooklyn both placing among the report’s top 20 rental markets. In this report, 139 markets in the United States…
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Southeast Queens leaders break ground on senior affordable housing project in Jamaica

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Jamaica

Sep. 20, 2023 By Bill Parry Speaker Adrienne Adams and Queens Borough President Donovan Richards were all smiles Wednesday as they helped break ground on the Sutphin Senior Residence, a new affordable housing development that will bring 173 units of affordable and supportive housing to seniors in Jamaica. Developed by Breaking Ground, the 15-story structure…
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New York ranks fourth among states in credit card debt increase: report

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Sep. 12, 2023 By Ethan Marshall According to a report put together by WalletHub, New York has experienced the fourth-highest increase in credit card debt among all states in the second quarter of 2023. This conclusion was reached based upon data recently released by the Federal Reserve, as well as data from TransUnion and the…
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Senator Comrie teams up with A&E Real Estate for backpack giveaway in St. Albans

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Sep. 6, 2023 By Ethan Marshall State Senator Leroy Comrie partnered with A&E Real Estate to host a free backpack giveaway outside his office on Farmers Boulevard in St. Albans Aug. 29. The giveaway came just as kids were preparing to go back to school. Each backpack handed out contained notebooks, pens and pencils. A&E…
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August real estate report shows continued increase in rent in Queens

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Sep. 5, 2023 By Ethan Marshall MNS Real Estate’s recently released rental report for the month of August in 2023 shows that the average rent price in Queens is still rising. According to the data collected, the average rent has risen 2.81% from July to August, from $2,735 to $2,811. Studio, one-bedroom and two-bedroom units…
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Report ranks New York as slowest state to sell realty

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Sep. 5, 2023 By Ethan Marshall After analyzing data from Zillow that details the average time it takes to close a sale in each state, RubyHome Realty concluded that New York is the slowest state in which to sell realty. The compiled data determined that the nationwide average time it takes to close a sale is 33.5 days. According to the data for 2023, it takes an average of 59.83 days for homes in New York state to be sold. Despite this large average, it actually presents an improvement from the same time in 2022. Since last year, the average…
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