Ariel Property Advisors reviewed multifamily sales transactions for June, and according to them, “Queens had a robust month in terms of dollar volume.” Indeed, Queens saw $240.8 million in sales taking place across seven transactions. That’s a 503 percent dollar increase from May 2013 and a 3,848 percent increase from June 2012. Shimon Shkury, president of Ariel Property Advisors, said in a statement that this jump in dollar volume for multifamily transactions is “remarkable.” Impressive? Yes, but let’s not make too much of the percentage increases given the small number of transaction. After all, one of the seven deals included Treetop Development’s $85.25 million acquisition of Saxon Hall, a 16-story rental apartment complex located at 62-60 99th Street in Rego Park. The price in this case represents roughly $170 per square foot. For the sake of context, the entire city saw 55 multifamily transactions comprised of 84 buildings in the month of June for a total dollar volume of $929 million.
The Straphangers Campaign released its annual transit review and found the 7 train as the best line in New York for the seventh time in 16 years. It ranked the highest because of its frequency, fewer delays caused by mechanical breakdowns, more seats available during rush hour and cleanliness. Queens Courier reports on other noteable […]
NY1 filed a report on the lot at 107th Avenue and 164th Street in Jamaica — it’s now used as a basketball court by neighborhood kids. It’s severely rundown and residents reached out to the city in hopes to fix it up, but hadn’t made headway. NY1 found out that the Department of Housing Preservation […]
This Saturday marks the opening of Socrates Sculpture Park’s new LIC exhibit at 43-29 Crescent Street. The formerly asphalt parking lot, now transformed into a green space, houses a “pool” by the artist Tamara Johnson. Johnson is the second artist to present their work at “The Lot,” as it’s called — a sculpture piece debuted […]
> What happens after a 3 am call leaves two NYPD officers questioning an oath they had vowed to keep? What does an ex narc do after finding a notebook with information on huge quantities of stolen heroin? Should a recent Ivy League college graduate’s resume include an impressive past job which would reveal that […]
It’s all about numbers. Thanks to the six-day Latino Cultural Festival, various musical genres, theater, and dances are dazzling audiences at the Queens Theatre this week. Plus, a two-week film festival screens over 100 movies in Long Island City, and various free Shakespeare plays show around the borough. There’s also an 18th annual street fair […]