The Real Deal New York

Astoria euphoria

The Queens neighborhood sees strong interest in new developments, but “ancient zoning” keeps it from competing with LIC and other areas

September 13, 2012 11:00AM
By Melissa Dehncke-McGill

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From left: Vickie Palmos of Astoria Condos, Charles Sciberras of Realty Executives Today, Harold Valestin of MNS and Jonathan Miller, President and CEO of Miller Samuel

From the September issue: It used to be that Astoria, Queens, was an ethnic Greek enclave dominated by an older housing stock of prewar buildings and one- and two-family homes. But in the last few years, the neighborhood, which has been gentrifying over the last decade or so, has continued to see lots of new residential development, and with it, more young professionals looking for new construction housing at the right price.

This month, The Real Deal talked to residential brokers and market analysts about how real estate in Astoria is holding up. [more]