Tag: real-estate-newsletter

Hard Rock International CEO pitches Metropolitan Park opportunity with Queens business community

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Hard Rock

Jan. 25, 2024 By Bill Parry As New York Mets owner Steve Cohen and Hard Rock International look to build support for a plan to redevelop a 50-acre parking lot to the west of Citi Field into “Metropolitan Park“—which would consist of a casino, an entertainment complex, hotels and 20-acres of park space—Hard Rock hosted job and info sessions earlier this month at the New York Hall of Science in Corona and at The Queensboro restaurant in Jackson Heights. More than 250 small business owners, community-based groups and workforce development organizations participated in the sessions to learn about job opportunities…
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$12.3 million purchase of additional land for Willets Point redevelopment plan completed

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purchase

Jan. 18, 2024 By Ethan Marshall The developers who plan to build a soccer stadium, affordable housing, retail space, open space, an elementary school and a hotel in Willets Point have purchased additional land where the ambitious project is slated to go. NYCFC, Sterling Equities and Related purchased two parcels in Willets Point for $12.3…
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Queens had more foreclosures than any other borough in 2023: report

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queens

Jan. 17, 2024 By Ethan Marshall Queens had more foreclosures than any other borough in 2023, accounting for 39% of all cases across the city, according to a report by the real estate firm PropertyShark. Of the 1,620 foreclosures in New York City in 2023, 631 of them were in Queens, including 50 in Elmhurst. The Queens…
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Rental prices in Queens are up almost 5% from a year ago: report

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Queens

Jan. 16, 2024 By Ethan Marshall The average rental price in Queens increased 4.76% over the past year, from $2,654 in December 2022 to $2,780 in December 2023, according to a report by the New York City real estate firm M.N.S. Real Estate. Studio, one-bedroom and two-bedroom units all experienced increases in rental prices across…
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Homeowners and renters can learn about available tax exemptions at upcoming info sessions

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tax

Jan. 12, 2024 By Iryna Shkurhan With tax season here, state Sen. John Liu is hosting information sessions in partnership with the NYC Department of Finance (DOF) to help residents apply for rent and property tax relief.  New York homeowners, for instance, who meet certain criteria can save hundreds to thousands of dollars on their annual property taxes this year. Homeowners are advised, depending on their situation, to challenge the assessed value of their property, with a lower value reducing their tax bill.  Depending on their home classification, they have until March 1 or March 15 to appeal their assessed…
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Queens neighborhoods to lead NYC real estate resurgence in 2024: Report

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neighborhood

Jan. 10, 2024 By Czarinna Andres Queens is poised to be the epicenter of New York City’s real estate resurgence in 2024, according to a report by the real estate firm Street Easy. The report, titled 10 NYC Neighborhoods to Watch in 2024, said that trendy sub-neighborhoods within Queens will be stealing much of the spotlight, noting that in 2023 many renters and potential buyers flocked to the borough in search of more affordable housing options. While Queens is expected to shine, the report also indicates that Manhattan may regain popularity among renters this year as rental prices begin to…
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Op-ed | New York City’s broken property tax system

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property

Jan. 8, 2024 By Martha Stark For decades, it has been an open secret that New York City’s property tax system is inequitable and unfair. This regressive system, rooted in outdated and discriminatory policies, has not only exacerbated the housing crisis but also deepened the economic divide, disproportionately burdening lower-income and minority communities. Next week,…
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Citing unfair property tax system, coalition seeks to even the playing field

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tax

Dec. 28, 2023 By QNS’s advertising partner As the City’s Finance Commissioner during the Bloomberg Administration, Martha Stark helped bring a new level of transparency to the property tax system. For the first time, owners were notified of the process and information that was used to assess their property taxes. Now, as the co-founder of…
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Lottery opens for ‘affordable apartments’ in Kew Gardens, 1-bedrooms to rent for $3,140

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lottery

Dec. 21, 2023 By Christian Murray It’s pitched as an affordable apartment in Queens, yet the rent for a one-bedroom is $3,140 a month. NYC Housing Connect has opened a lottery for 16 “affordable apartments” inside a new 8-story, 51-unit development in Kew Gardens. The building, located at 81-07 Kew Gardens Rd., has been developed by FBL Development, and includes a range of amenities, such as a gym and a rooftop terrace. The units are designated for residents whose income falls within 130% of the area median income (AMI). The range accommodates potential tenants with incomes spanning from $107,658 to…
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