More Developers Turning Toward Queens

We’ve heard it before and the Daily News reports it again: Queens is attracting developers from all over the city. According to the News, 30 percent of top developers think the strongest growth outside Manhattan will be in Queens, with another 20 percent singling out Long Island City. The borough’s proximity to Manhattan, the availability of land, and cheaper land costs all make Queens attractive as prices continue to rise in Manhattan and Brooklyn. Real estate expert Jonathan Miller exclaimed, “I call Queens the new Brooklyn,” saying that he expects more upscale rental buildings for Astoria, Sunnyside, Woodside and Jackson Heights. Of course, there’s also the promise of dense development at Hunters Point South, Willets Point and Hallets Point. Says Eric Benaim, CEO of Modern Spaces: “Everyone’s finally seeing the potential of Queens.”

Developers Are Looking at Queens for the Next Frontier in Real Estate [NY Daily News]