on the Rise
www.qns.com I LIC COURIER I JULY 2018 23
Photo via twitter.com/@WhiteHouse
BY JENNA BAGCAL
Astoria is seeing a residential rise
in condo owners, according to data
from a new Queens market report
released earlier this month.
New data from the Modern Spaces
Q2 (second quarter) report show that the
Astoria market has tripled the number of
first quarter closings on condominiums
in the neighborhood. According to the
report, the average closed price has
seen both quarterly and yearly gains.
During the first quarter (Q1), the
average closed prices for one- and
two- bedroom condos were $660,518
and $943,750 respectively. In the
second quarter, the average closed
prices rose to $666,432 and
$956,058. Overall there was a 13
percent yearly increase in closed
prices for Astoria properties, with the
average closed price at $782,906.
Data also showed that the average
closed price per foot in Astoria proper-ties
experienced an increase from Q1
to Q2. The average closed price per
foot for one- and two-bedroom condos
was $1,081 and $902 in Q1, and
changed to $1,036 and $986 in Q2.
The highest price and price per
foot for Astoria closed condos in
Q2 was $1,347,637 at The Livelle
and $1,178 at Verona Condominium,
according to the report.
The average days on the market for
one bedroom apartments in Astoria
is 251. Two- and three- bedrooms
spend an average of 166 and 124
days on the market respectively, and
the average studio apartment spends
just 88 days on the market.
In addition to data about Asto-ria,
the report also includes sale
and rental data from Long Island
City and Flushing. The report shows
that average closed prices in these
neighborhoods have also seen yearly
and quarterly increases; a 9 percent
increase in Long Island City condos
and a 13 percent increase in Flush-ing
To request a copy of the full Mod-ern
Spaces Q2 report, or reports from
other years and quarters, visit mod-ernspacesnyc.
Photo courtesy of Shutterstock