QUEENS PASSES BROOKLYN AS HOTTEST RENTAL MARKET

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StreetEasy data found that competition in May was toughest in Queens, where the average listing received 133% more inquiries compared to May 2019, more than double the pre-pandemic level.

StreetEasy credits this surge to New Yorkers looking for more affordable homes across the city, leading to intense competition in Queens as the city’s more affordable alternative to Manhattan and Brooklyn.

According to StreetEasy, Queens neighborhoods that offer fast and convenient commutes to Manhattan, including Astoria, Long Island City and Sunnyside, reached record-high asking rents in May.

In Queens, the asking rent rose 12% year-over-year to $2,800 in May, setting a record high for the second consecutive month, according to StreetEasy. Despite the competition for rental units in the last few years, inventory in the borough rose by just 5%. However, there were still 3,983 homes for rent, still a fraction of the inventory available in Manhattan and Brooklyn.

“In addition to rising demand, limited inventory is behind the fierce competition for rentals, as Queens inventory this May was 28.4% below its May 2019 pre-pandemic level,” read the StreetEasy report.

According to StreetEasy, Queens’ northwest neighborhoods are rising in popularity.

“An average listing in the area received 150% more inquiries than in May 2019,” read the report. “These neighborhoods offer relatively quick commutes to Manhattan, but convenience comes at a cost.”

The median asking rents in Long Island City set a new record high in May at $4,259, up 3.9% year-over-year.

“While the neighborhood’s median is higher than the borough median by 52%, renters can enjoy convenient access to Midtown in addition to sought-after amenities in new developments,” the report read.

According to StreetEasy data, of the three northwestern neighborhoods, rents in Astoria are rising the fastest. In Astoria, the median asking rent rose 10% year-over-year to $2,750 in May. Sunnyside also set a record high this May at $2,455, up 6.7% from last year.

NYC RANKED AMERICAS BEST CITY FOR 2023 !

The number of tourists visiting New York -- and its attractions such as Central Park -- is on the rise as well.

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Nobody puts New York in the corner.

After a few tough years during COVID-19, a new report has ranked New York as America’s Best City of 2023.

When the pandemic took hold in 2020, many prepared their last words for the Big Apple — and many ultimately left.

But the city that doesn’t sleep also doesn’t give up. Its rebound has been swift, particularly in real estate and tourism, noted Resonance Consultancy, the global real estate and tourism advisement group that ranks US urban centers each year.

More than 61 million tourists are projected to visit New York in 2023, the report states. Up from 33 million in 2021 and 56 million last year, that number is creeping back toward the 70 million mark achieved in 2019.

Visitors are also arriving in style, with renovations to and expansions of JFK Airport, LaGuardia Airport and Penn Station — and they can choose from 10,000 new hotel rooms that opened in 2022, the study adds. Continue Reading ›

SAVE THE DATE!! Musica Reginae Productions Hosts Dalí Quartet ! Saturday June 3rd

Dalí Quartet

Dalí Quartet

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  • The Church-in-the-Gardens 50 Ascan Avenue Forest Hills, NY 11375 (map)

The acclaimed Dalí String Quartet brings Latin American quartet repertoire to an equal standing beside works of the Classical and Romantic eras. Join them for an unforgettable evening of passionate music making.

Artists:
Ari Isaacman-Beck, 1st violin
Carlos Rubio, 2nd violin
Adriana Linares, viola
Jesus Morales, cello
Barbara Podgurski, piano

Learn more about this concert

Tickets