Compass opens Long Island City office as new-development sales surge

The Softbank-backed brokerage also plans an Astoria office

There will be 70 agents based at the new office (Credit: iStock)
There will be 70 agents based at the new office (Credit: iStock)

Compass has opened an office in Long Island City as sales prices in Queens hit record highs.

Located at 21-50 45th Avenue, the office will have 70 agents, including its “Real Market Team,” whose listings include a $3.75 million penthouse in Hunters Point.

The firm is also exclusively marketing the One Sixteen building in Rockaway. And it was marketing the Ispica Astoria at 25-63 38th Street, which it says is now sold out.

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The move is part of a Queens expansion by Compass, which initially launched operations in the borough out of a temporary space in March 2018. In addition to announcing the new office, the firm said it planned to open an Astoria location in December.

The latest sales report from Douglas Elliman showed signs of the market is strengthening in Queens, as both the median and average sales prices reached record highs in the third quarter. Steven James, Elliman’s preside nt and CEO, attributed the results to “the spillover from Brooklyn as buyers seek out greater affordability.”