Both NY1 and Times Ledger have reported on a brand new neighborhood group for the Forest Hills, Rego Park and Kew Gardens area. The group, called “Forest Hills, Rego Park, Kew Gardens – Our Communities” hopes to bring residents of the three neighborhoods together to promote area events, historic and cultural preservation, and local businesses. The group started its Facebook page on January 24th and 500 people joined after only four days. Now, there are over 1,000 members.
The first official meeting was last week, and the group plans to hold meetings monthly. Facebook posts range from doctor recommendations in the area to upcoming community board events to the group’s memories of the older days of Rego Park, Forest Hills and Kew Gardens.
The Wall Street Journal rounded up all the buildings rising around Rego Park, a neighborhood where new development is attracting a younger audience. The Alexander at Rego Center, which is now under construction over the Rego Park II shopping plaza, will start leasing its 312 units in April. The building is a mix of studio, one- and two-bedroom apartments. At the Rego Modern (pictured), the luxury rental that launched in September, 85 percent of the 38 units are spoken for. WSJ spoke to a broker associated with the project who reported that “Much of the interest came from 20- to 30-year-olds hoping to save money on rent and area residents looking for a more modern space to reside.”
As for under-construction projects, there’s a six-story, 45-unit development slated for 65-70 Austin Street, a seven-story, 59-unit build for at 65-38 Austin Street, and finally an eight-story development at 64-24 Booth Street. With the residential growth, more commercial development is expected too. There are also safety improvements in store for Queens Boulevard as well as momentum to build out the QueensWay elevated park nearby. Rego Park, it’s your time to shine!
This two-bedroom, two-bathroom apartment comes to us from the Sunrise Manor condo building at 99-31 66th Avenue in Rego Park. The unit is actually up for rent, asking $3,600 a month. The space looks massive, with an open living a dining room (with enough space for a dedicated dining area), a private terrace and huge windows. The unit also comes with one parking space, and the building has its own fitness center. Not bad at all. What do you make of that asking rent?
New York State awarded The Trust for Public Land $444,000 to kick off the design process for the first phase of the QueensWay. The money is part of a larger grant from Governor Cuomo’s Regional Economic Development Council initiative. The Daily News reports that the funds will go toward designing a “Northern Gateway” in Rego Park. (The 3.5 miles of abandoned railroad tracks run from Rego Park to Ozone Park.) This is the next step in the design process, as Friends of the QueensWay released preliminary renderings for the park in October.
Proposals for the QueenWay include outdoor nature classrooms, exercise stations, a commuter route, a bike trail, an arts hub, a rock climbing wall and food concessions. The plans still face opposition, though, as some local pols and residents would rather reactivate the rail line for transportation.
This brick townhouse at 95-20 67th Avenue, in Rego Park, is up for sale asking $828,000. We spot hardwood floors throughout, some arched entryways, underwhelming bathroom renovations and a suburban-style basement. But it does look like this three bedroom has good bones, and it’s got unique features like an enclosed porch and a garage. What do you make of that ask?
It’s been awhile since we’ve published a Market Snapshot, but for the latest installment our friends at PropertyShark crunched the numbers on Rego Park. Sales stats show that the market has stayed relatively stable since 2005, with the median sales price hovering below and above $200,000. (It’s worth mentioning that you can note a gradual increase throughout the years, from $182,500 in 2005 to $243,000 in the third quarter of 2014.) The median sales price looks strong this year in particular, ranging from $243,000 to $259,806 between quarters. And the number of transactions is high too, around 100 sales per quarter of 2014.
PropertyShark also compiled the total transaction values per quarter — see the graph above. The fourth quarter of 2013 brought in the highest numbers, with 148 transactions at a total of $40,520,149. The total transaction value from the third quarter of 2014 was $25,259,374.
Finally, PropertyShark noted the three most expensive sales for the neighborhood — and they all belong to the condo development Millennium 99, at 63-36 99th Street. The first is No. 8A, a 1,663-square-foot condo that sold for $1,028,433. No. 5F, at 1,387 square feet, sold for $880,000 and No. 5J, at 1,489 square feet, sold for $861,506.
Up for sale in Rego Park, at 65-15 Boelsen Crescent: this freestanding Colonial asking $1,388,000. The property is part of The Crescents enclave, known for its semi-circular streets and Tudor homes. Houses here tend to go for higher prices, so the $1M+ ask isn’t entirely shocking. Problem is, the interior of this house just isn’t very impressive. It also looks like a modestly-sized home, with one of the bedrooms barely able to fit a bed. There is however, a lovely front and back garden as well as a detached garage. How much do you think it’s worth for this slice of the suburbs?
Rego Park is making headlines more and more, with articles boasting the neighborhood as a hot spot for renters, and new luxury developments hitting the market. New York YIMBY joined the bandwagon, posting a rendering of a new development planned for 65-70 Austin Street, between 65th Road and 66th Avenue. The seven-story, 45-unit rental development, designed by GF55 Partners, will join a number of other seven-story buildings already situated on the south side of Austin Street. Apartment units will average just under 800 square feet, and the building will hold 28 parking spaces. No word on a construction timeline or price point yet.
Meanwhile, DNAinfo published an article today about the lack of eateries and nightlife in the area. While there are a number of new developments with “Manhattan” amenities offered at lower prices than in Western Queens, there still isn’t anywhere to grab a beer. Rego Park residents end up traveling to other neighborhoods of Queens or Brooklyn to go out. New neighborhood transplants consider the area, which has many fast-food restaurants, more suitable for older residents. Frank Gulluscio, the district manager of Community Board 6, told DNAinfo that he thinks 63rd Drive is “a prime location for some of the things that [younger residents] might be looking for. It could be Martha’s Bakery, it could be a cupcake store, it could be an upscale wine and cheese place. Somebody has to start it, like they did in Williamsburg and Red Hook.” Queens bar and restaurant owners (or hopeful owners) — are you listening?