Nov. 25, 2024 By Colum Motherway Council Members Robert Holden and Joann Ariola have issued strong statements opposing the progression of Mayor Eric Adams’ controversial ‘City of Yes’ zoning reform plan through the City Council. The plan, which underwent slight modifications to strike a final deal with the council, includes a $5 billion commitment…
Nov. 20, 2024 By Ethan Marshall Competition among renters in New York City cooled in October 2024 to the degree that 19.7% of listings were offering concessions on rent, marking the highest level in the city since July 2021 at 22.7%, according to a report by the real estate listing site StreetEasy. The rise…
Nov. 14, 2024 By Athena Dawson A group of Southeast Queens residents and civic leaders rallied together with a clear message for their elected officials: vote no on the City of Yes rezoning proposal. The homeowners and community organizers gathered at the corner of Sutphin Boulevard and 112 Avenue on Saturday, Nov. 2. Many…
Nov. 14, 2024 By Ethan Marshall Permits have been filed for the construction of a 7-story residential building at 68-19 Woodhaven Blvd. in Rego Park. The proposed development, located between 68th Road and 68th Avenue, would stand 75 feet tall and span 91,080 square feet. There would be a total of 120 residences. Based…
Nov. 13, 2024 By Ethan Marshall A ribbon-cutting ceremony was recently held to mark the official opening of Apex Place, a new three-tower affordable residential development at 62-11 108th St. in Forest Hills. Apex Place has 441 total affordable housing units and yields 20,000 square feet of community space, including medical offices and a…
Nov. 12, 2024 By Ethan Marshall Housing units in Queens had the average cost of rent go up 3.28% in October 2024, compared to the same month the previous year, according to a report by the real estate firm M.N.S. Real Estate. Year-over-year, the average rent in Queens rose from $2,803 in October 2023…
Nov. 7, 2024 By Ethan Marshall After the average rent for roommates in New York City spiked in the aftermath of the COVID-19 pandemic, a report by the roommate-finding site SpareRoom indicated prices began to stabilize during the third quarter of 2024, reaching $1,540. After hitting its peak average roommate rent of $1,625 during the second quarter…
Oct. 21, 2024 By Ethan Marshall As the first-time foreclosure market continued to slow across New York City during the third quarter of 2024 compared to the same period of time the previous year, Queens contributed immensely to this change, according to a report by the real estate agency PropertyShark. Across New York City,…
Oct. 18, 2024 By Ethan Marshall Construction has been put on hold for a 17-story mixed-use building at 3-50 St. Nicholas Ave. in Ridgewood. Known as The Ridgewood, this tower will be the tallest structure in Ridgewood. It will cover 284,000 square feet. In addition to 97,000 of that square footage being dedicated to…
Oct. 16, 2024 By Ethan Marshall The number of homes entering contract across New York City increased significantly year over year, thanks in large part to a decline in mortgage rates, according to a report by the real estate listing site StreetEasy. Over this period, there was a 26.4% increase in homes entering contracts,…