The Real Deal New York

Jackson Heights sales hit the heights, touch 7-year high

Total apartment and home sales up by 50 percent last year
February 14, 2014 01:53PM

Prices and sales of single-family homes are on the rise in the Queens neighborhood of Jackson Heights.

Indeed, sales increased every quarter last year , with fourth quarter sales the highest in 7 years, according to figures from the Beaudoin Realty Group. A total of 15 homes and 153 apartments sold, more than double the 77 sales for the same quarter in 2012.

For the year, total apartment sales rose 50 percent to 429 deals. Co-op sales were particularly strong. Six-room units at Hawthorne Court, for instance, passed the $700,000 price mark for the first time ever, according to Brownstoner. Currently the most expensive co-op on the market in Jackson Heights is a 1,700-square-foot three-bedroom apartment at 3730 83rd Street for $695,000.

Average sales prices rose 11 percent across all categories, according to the report. [Brownstoner] — Angela Hunt

  • shenanigans

    See? take away any hidden interests and this is just cheerful news of a healthy economy and market – BUT if this is Manhattan especially Chinatown, forget it – there are new people coming into Chinatown who are complaining that they love their homes and can’t bear to move out because it has become unaffordable for them – even if they operate businesses outside of Manhattan’s Chinatown.

    It’s all about the value of Manhattan real estate and the fact that the rent regulations and the very powerful tenant advocates have a fianncial benefit in clouding the issue and denying the market indicators that Chinatown must flourish or perish. You can’t keep this place so hidebound that its makeup is losing to Flushing – especially to Flushing in terms of the quality fo retail, hotels and even the character of residents. Why are there so many Chinatown fires INSIDE rented premises i.e. by tenants both residential and commercial?