Trending
Is Flushing being overdeveloped?
With an overtaxed infrastructure, can the Queens enclave sustain the current housing boom?
From the December issue: These days, Flushing is like a teenager undergoing an awkward growth spurt.
Driven largely by a skyrocketing Chinese population, the Queens neighborhood has seen an explosion in luxury condos, retail and office space, and upscale hotels. Since 2010, over 2,600 condominium apartments have hit the market, and between 2,400 and 2,800 more are expected to follow by 2021, according to public-records data compiled by the real estate consultant Nancy Packes. During that same time period, the average price per square foot of a one-bedroom condo in Flushing increased 39 percent to $748 per square foot. [more]