Rockaways real estate makes a comeback

TRD New York /
Apr.April 29, 2013 02:30 PM

The Rockaways section of Queens is making a comeback from the whack it took from Hurricane Sandy — both homes sales and summer rentals are looking up.

No specific figures are available for either sales or rentals, but the New York Post reported tale after tale of the Rockaways’ real estate renaissance.

Home prices in the Rockaways have dropped by about a third, a boon for buyers; many, though, told the newspaper that they’re heading out to the neighborhood to be part of its recovery from the massive October storm and have every intention of staying for a good long while.

One of the newcomers is Sam Meenan, who owns Latin eateries Café Habana in Soho and Habana Outpost in Fort Greene. He paid $500,000 for a 1,800-square-foot beach-front summer home.

“I think there is an indomitable spirit in Rockaway itself,” he told the Post.

In the months before the storm, Rockaways homes were still a relative bargain for buyers. As reported, bungalows in Neponsit and Belle Harbor had commanded $500,000; Queen Anne mansions sold for $850,000 and beach-front estates traded for $6 million. [NYP]Zachary Kussin


Related Articles

arrow_forward_ios

Plans for NYC’s storm-surge barrier raise environmental concerns

Hamptons Cheat Sheet: Hamptonites spend big to secure properties amid MS-13 fears … & more

Coney Island Hospital moves forward with $738M renovation plan

After Sandy, buildings flood city’s most vulnerable neighborhoods

These were the biggest Q4 deals in Queens

Dead zones: Resi agents aren’t in these NYC neighborhoods

Developers are soaking NYC’s waterfront areas with new construction

These 10 US cities are most prepared for disaster — and New York ain’t one of ’em

arrow_forward_ios