Queens Post
Real estate firm PropertyShark ranked New York City as the city with the largest concentration of expensive ZIP codes in the U.S. by closed home sales.
In PropertyShark’s report, the ZIP code for Hunters Point in Queens,11109, was cited as one of the eight New York City locations to rank in the top 100 priciest ZIP codes.
Hunters Point’s ZIP code was ranked as having the fifth-highest
median sale price, at $2.09 million. The only zip codes that had a
higher median sale price were 10282 (Battery Park City) at $3.4 million,
10007 (Tribeca) at $3.09 million, 10013 (Tribeca/Hudson Square) at
$2.97 million and 10069 (Upper West Side) at $2.17 million. Hunters
Point is the lone neighborhood within the top five not located in
Manhattan.
Other ZIP codes within New York City that made PropertyShark’s top
100 for most expensive ZIP codes in the U.S. include 10012
(SoHo/NoHo/NoLita) at $1.95 million, 10028 (Upper East Side) at $1.84
million and 11231 (Red Hook), also at $1.84 million. The latter ZIP code
is the lone Brooklyn neighborhood to be cited as a main contributor.
When it came to the list for the 100 most expensive ZIP codes,
Battery Park City’s 10282 ranked 20th, Tribeca’s 10007 came in 24th,
Tribeca and Hudson Square’s 10013 ranked 27th, the Upper West Side’s
10069 came in 65th, Hunters Point ranked 72nd, SoHo, NoHo and NoLita’s
10012 was 87th, the Upper East Side’s 10028 ranked 97th and Red Hook’s
11231 was ranked 98th.
This year’s study marked the first time that New York City ranked as the epicenter of expensive zip codes since 2016.
QNS
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 rental price by the
end of October this year compared to the same time last year, there was
very little change compared to September 2023. Month-over-month, there
was a 0.06% decrease in average rental price, from $2,804.94 to
$2,803.12.
Month-over-month, the average rental price of studio units increased
1.5% from $2,222.19 to $2,255.57. However, the average rental price for
one-bedroom and two-bedroom units both went down. There was a 0.67%,
decrease for one-bedroom units, from $2,747.66 to $2,729.38. Two-bedroom
units experienced a 0.60% decrease in average rental price, from
$3,444.97 to $3,424.40.
Five Queens neighborhoods tracked in the report, Astoria (1.93%), Rego Park (1.5%), Forest Hills (0.28%), Elmhurst (0.89%) and Sunnyside
(0.95%), experienced an increase in the average rental price in October
compared to September. The remaining six Queens neighborhoods, Long Island City (0.99%), Ridgewood (0.97%), Flushing (0.35%), Jackson Heights (1.41%), Jamaica (1.11%) and Woodside/Maspeth (0.66%), had a decrease over that same period of time.
Astoria saw the largest month-over-month increase in studio units,
rising 12.8%, from $2,090 to $2,358. The most significant decrease
during this same period of time was seen with studio units in Elmhurst,
which went down 12%, from $1,988 to $1,749.
Long Island City had the most expensive studio ($3,418), one-bedroom
($4,145) and two-bedroom ($5,756) units in terms of average price.
Flushing had the cheapest studio units ($1,679) and Elmhurst had the
least expensive one-bedroom ($2,275) and two-bedroom ($2,845) units.