Tonight, the ‘Roosevelt Avenue Urbanites’ exhibit will be on display at the Falchi Building in Long Island City. The event takes on the controversial Roosevelt Avenue BID, proposed by the 82nd Street Partnership for a stretch of Jackson Heights and Corona. The Daily News writes that the exhibit includes eight projects envisioning the future of that 20-block stretch by students from Parsons New School for Design and three Italian universities. According to the News, “Projects include an oral history and social map of the area, a look at the potential for small business collaboration that would mimic a BID, and an exploration of the area’s unused open spaces.”
You can check out the ‘Roosevelt Avenue Urbanites’ exhibit tonight from 7 to 10 pm at the Falchi Building, 31-00 47th Avenue.
2014 was a really good year for Jackson Heights real estate. So says Daniel Karatzas of Beaudoin Realty Group, who released his fourth quarter sales report on the neighborhood. He remarks on the number of records set in the past year alone: $2,100,000 for a three-family house, $999,000 for a two-family house, $915,000 for a seven-room co-op at The Towers and $750,000 for a six-room co-op at Hawthorne Court. The numbers show that demand has outstripped supply, especially in the second half of the year. But the fourth quarter numbers show a drop in apartment sales, taking into account the lack of units. Karatzas predicts that “the increase in prices may incent some sellers to take the plunge and list their property in 2015.”
In the fourth quarter, 18 homes sold total, up from 15 sales one year ago. The average sales prices for one-, two-, and three-family houses were higher than prior and year-ago periods, ranging between 3.7 and nearly 47 percent. That 47 percent increase comes from the three-family home sales in particular. For the quarter, the average sales price of three families came in high at $1,280,000. That’s because of two sales: a brick home on 76th Street used for commercial purposes sold for $1,250,000 and a building with development potential sold for $2,100,000. The average sales price of a one-family home was just above $700,000 (up 6 percent from last year), with two families boasting an average around $800,000 (up 13 percent).
Looking at all of 2014, the average sales price of homes was 12 percent higher than 2013, a continuation of the upward trend seen over the last five years. (See the graph above.) A total of three one-family houses sold for over $900,000 in 2014, and two two-family homes sold for $999,000.
Now, on to apartments. There were 101 closings in the fourth quarter, but the number of sales was down 34 percent compared with the prior quarter. According to Karatzas, “This is due to the dramatic decline in inventory compared with just two or three years ago, rather than buyers heading elsewhere. In fact, Jackson Heights has become a popular destination for many as apartment prices have surged in Manhattan and Brooklyn.” Average sales prices, in general, are up for co-ops. Since last year, prices on prewar elevator coops are up 5 percent (to $271,314), and up 14 percent for prewar walkup coops (to $452,583). Karatzas finds that over the last eight years, prewar elevator co-ops have sold consistently at a higher premium inside the historic district as opposed to out of it. The premium has ranged from 6 to 40 percent, with a rough average at 25 percent.
After the jump, check out more graphs outlining sales trends in Jackson Heights.
This two-bedroom, two-bathroom co-op at The Towers, one of Jackson Heights’ most popular co-op buildings, is on the market asking $519,000. It’s actually a flip — as Jackson Heights Life pointed out, this apartment was a complete and total wreck not so long ago. (See the before pictures here.) Back then it was asking $279,000, and it looks like it sold for $230,000. We think the buyers did an excellent renovation job, given that they were pretty much working from scratch. It still has that nice historic vibe, with restored oak floors and a fireplace. Now the big question remains: how much will it sell for? Our guess is that these flippers will see a decent profit here. UPDATE: A broker from MPC Properties has informed us that the wrecked apartment and the apartment for sale are two different units, so this is not a flip. As he says, “This is a listing with a similar layout on the second floor that we have listed for a shareholder that has living there for a number of years.” We regret the error.
This two-bedroom, two-bathroom co-op at Elm Court, in Jackson Heights, is weirdly listed in Brooklyn, but it is one of those properties that would lure a priced-out Brooklynite into the arms of Queens.
It’s a beautiful apartment with all your typical pre-war co-op perks, a fireplace, wood floors, moldings. The open kitchen got a more modern renovation, although it’s not as impressive as the rest of the place. What we are impressed by is that the building elevator opens right up into the unit’s foyer — very fancy. All that’s left is the asking price, at $649,000. Monthly fees come in at $800. Like this one?
To begin with, I begged my wife to consider the concept of us purchasing the former White Castle regional office, found at the corner of 69th Street and 34th Avenue, for usage as a home. She blew me off, saying that we’d have stoned teenagers turning up in our driveway every night at 2 am. She also did a quick check of Q’Stoner’s posts from December of 2014 and pointed out that we haven’t got five million bucks to buy it with. I love the idea of living in a white ceramic building with castellations (because of, y’know, zombies), but even more interesting would be life on what I call “an angle” between neighborhoods (it would also allow me to embrace Bowling as a sport, given the neighboring corner’s occupation).
There’s spots like this all over Queens. It ain’t Woodside or Elmhurst, and it ain’t quite Jackson Heights (technically, it’s Jackson Heights) rather this area is an angle formed between them.
Today Brick Underground profiled Jackson Heights as part of its “Neighborhood Secrets” series. There are all the expected details — the neighborhood is hailed as “a multi-ethnic mosaic” — and there are a number of resident quotes on what it’s like to live there. Residents recommend Sammy’s Halal, Potala Fresh Momo, the Sainted Arepa Lady, Mexican food trucks, Cannelle Patisserie and Espresso 77 to eat and drink. A parent speaks to how kid-friendly the neighborhood is, and another complains about the overhead air traffic noise to LaGuardia. Transportation to Manhattan is considered fast and reliable, while one resident wishes the neighborhood had better public park space. Read all of the praises and gripes right here.
It’s time to tree-cycle and e-cycle. To promote eco-friendly practices — and help New Yorkers avoid a new state law imposing $100 fines on residents who leave electronics on the curb for pickup — the Queens Botanical Garden will host the 12th annual E-Waste Recycling Event on Sunday. Done in partnership with the Lower East Side Ecology Center and sponsored by TekServe, this six-hour event allows participants to drop off unwanted or non-functional computers, printers, cell phones, video games, tablets, and other gadgets in the parking entrance. (Click here for a full list of acceptable items.) Garden employees will make sure that they are disposed of in the proper ecological way. On the same day and in the same spirit, the garden will host arts-and-crafts activities using recycled and repurposed items.
Meanwhile in response to recent holidays, the NYC Parks Department will host MulchFest 2015 all weekend at various spots throughout the five boroughs, including 13 Queens green spaces. Residents can bring trees to these spots to be recycled into mulch that will nourish plantings across the city. In some places, NYC Parks employees will chip the wood and give bags of mulch back to the tree donors. Details for all three events are on the jump page.
It’s part Cascanueces, part Shchelkunchik, and mostly unique. This Saturday, four local performing arts schools will offer two presentations of a decidedly Queens version of The Nutcracker. Expect some ballet, of course, but be prepared for plenty of salsa, Arabian belly dance, Chinese jazz, hula hoops, and hip hop. The companies – Mestizo Art Center; Cali Salsa; EC Squared Studio; and Uruzua Queens Center of Performing Arts – are all located in the heavy Hispanic neighborhoods of Jackson Heights, Corona, and Elmhurst, so there will be a Latin flair with a mix of solo and group acts.
Details: The Nutcracker (Queens Version), Queens Theatre, 14 United Nations Avenue South, Flushing Meadows Corona Park, December 27th, 4:30 pm and 7 pm, $20 suggested donation.