NYC’s top 10 wealthiest ZIP codes will surprise you

February 20, 2017 | by Diane Pham
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There’s no argument that Tribeca is home to the priciest real estate in all of New York City, but when it comes to wealth as measured by median net worth and household income, its residents don’t even register in the top 10. A new study by ESRI conducted for the NY Business Journal reveals that 11363—or Little Neck, Queens (where Governor Cuomo once owned a mansion, to give you and idea)—is, in fact, New York’s richest ZIP code. Here, the median household income clocks in at an impressive $94,192 with median net worth reaching $326,104. A mansion in 11363, Douglaston, Little Neck, Queens Several Manhattan ZIP codes did come in at the top, but they might not be the ones you’re thinking. According to Esri, the 10 w... Read More

New: Search for Apartments Near Second Avenue Subway

January 23, 2017 | by Mariela Quintana
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For many weary, commute-harried New Yorkers, the newly opened Second Avenue subway line has been met with overwhelming positivity and warmth – a rare reception for this time of year in the city. According to Curbed, “The Second Avenue Subway Wows Commuters;” The New York Times calls it “a train dream come true” and Wired exhorts its readers to “Step Into the Comfiness of the Second Avenue Subway (Yes, Comfiness.)” Search for listings near the new line In anticipation of Second Avenue subway’s opening, last November we released a comprehensive study the impact the new line will have on the rental market around Second Avenue. In addition, we updated our site’s search functionality so buyers and renters ... Read More

StreetEasy's 2017 New York Housing Market Predictions

January 9, 2017 | by Streeteasy Team
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Every year, StreetEasy predicts trends that will be driving the New York City real estate market in the coming year. A year ago, we predicted that 2016 would be the year of the luxury market slowdown and slower price growth across the board, fierce competition in Upper Manhattan and a greater rent burden for Brooklynites. Heading into the New Year, we dusted off our crystal ball – that is, our extensive market data – to forecast some of the leading trends that will shape the city’s sales and rental markets in 2017. Manhattan Sales Market Will Have Slowest Growth of All Boroughs Where high demand and high-priced inventory kept Manhattan resale prices soaring over the past few years, luxury is now what’s dragging the marke... Read More

NYC Real Estate Experts Offer Their 2017 Predictions

January 9, 2017 | by Emily Nonko
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CityRealty spoke with New York City real estate experts—everyone from developers to architects to contractors to brokers—on their predictions for the upcoming year in the city’s ever-changing real estate market. From the presidential election of real estate magnate Donald Trump to the likely return of 421A tax incentives, 2017 promises big changes ahead. And yes, renters can look forward to more apartment concessions from landlords coming next year. President Donald Trump will have big effects on NYC real estate Stephen DeNardo, CEO of RiverOak Investment Corp. The day after the election, Crain’s New York Business ran the headline: “President-elect Trump unlikely to hurt real estate industry that made him.” Th... Read More

Top Buyers' Markets in NYC

December 8, 2016 | by Lauren Riefflin
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Inventory remains tight in New York City, while rent and sales prices continue to rise – all conditions that point to a seller’s advantage. To identify neighborhoods where buyers may have more negotiating power or where buyers might face the most headwinds, StreetEasy created the Buyer/Seller Index. The Buyer/Seller Index is StreetEasy’s analysis of buyers’ and sellers’ markets across New York City. It looks at key indicators of competition such as: Time on market Price cuts Sold price in relation to asking price Taking each of these factors into account, we looked at how these statistics compare across New York City neighborhoods and determined where sellers have the upper hand and neighborhoods where buyers c... Read More

Is the 7 train the new L? A report says that Queens may soon see a development boom

September 12, 2016 | by Alanna Schubach
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If you live along the 7 train line, keep an eye out for an invasion of upscale barbershops and artisanal honey stores: A report from real estate services firm Ariel Property Advisors forecasts that Queens neighborhoods may be getting the Williamsburg treatment. It says areas like Sunnyside, Woodside, and Jackson Heights could soon see development booms reminiscent of the ones along Brooklyn’s L train corridor. According to the report, a confluence of factors will send more New Yorkers on the hunt for affordability into Queens, where the 7 train—routinely rated the city’s best subway line by the Straphangers Campaign for its speed and cleanliness—provides a quick route into midtown Manhattan. By analyzing MTA data, the report&rsquo... Read More

Top 10 biggest real estate projects coming to NYC

August 15, 2016 | by Kathryn Brenzel
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The largest New York City real estate developments proposed in permit applications last month included a tennis stadium and one of famed architect Zaha Hadid’s final designs. The largest new development permit filed last month was for the Louis Armstrong Tennis Stadium, which is part of the U.S. Tennis Association’s Billie Jean King National Tennis Center in Flushing Meadows-Corona Park in Queens. The new stadium will replace the original, which was built in 1964 for the New York World’s Fair and then became the centerpiece of the U.S. Open before the facility was expanded in 1997, according to the USTA’s website. The new stadium is slated to be ready for the 2018 U.S. Open. Four of the top 10 largest projects proposed last mont... Read More

New York’s Next Hot Neighborhoods

March 7, 2016 | by Michelle Higgins
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Bushwick, Brooklyn, is over. Ridgewood, Queens, had its hipster moment. Townhouses have been selling for more than $1 million in Crown Heights, Brooklyn, for some time. And investors are beating a path to the South Bronx and Staten Island. In New York City real estate, the quest for the next hot neighborhood never ends. But spotting an area that is on the rise before it becomes the next big thing is no easy call. The arrival of a farm-to-table restaurant doesn’t guarantee the neighborhood has turned the corner. Nor can buyer interest change a blighted area overnight. “Just because gentrification is happening doesn’t mean crime drops precipitously,” said Jonathan J. Miller, the president of the appraisal firm Miller Samuel. &ldqu... Read More