LIC rentals 94 percent leased: report

(source: Modern Spaces)

Long Island City’s 2,084 rental apartments were 94 percent leased at the end of 2010, with just 125 units available, according to a year-end market report from local brokerage Modern Spaces. Rents averaged $1,500 to $4,617 per month, depending on whether the apartments had elevators and doormen. Meanwhile, apartments sold in the mid-$600-per-square-foot range over the course of last year, with the highest price per square foot, $678, reported on one-bedrooms. See the full report below. TRD