Two Queens Neighborhoods Score High in Rentlogic Survey of Best Multi-Family Rental Buildings

The New York Post recently published an article on areas renters should avoid because of failing grades.  The Post used a survey by Rentlogic, a real estate data firm which hands out grades to New York City's multi-family rental buildings.  The company uses public information from the city on building violations and tenant complaints and then assigns properties a score of A (excellent), B (good), C (needs improvement) or F (unacceptable).   The survey gave high grades to two Queens neighborhoods of Floral Park and Elmhurst.  Areas in Manhattan and the Bronx scored at the bottom end of the grading.

According to the article, Rentlogic was able to review data on more than 1 million buildings from roughly 300 neighborhoods throughout New York City.  An analysis of the data, Rentlogic was able to determine what were the best and the worst neighborhoods throughout NYC.   The Post reports "The most surprising result: Prices aren’t always a proxy for quality. For instance, the city’s best-graded neighborhoods include workaday spots like Great Kills, Staten Island; Floral Park, Queens and City Island in the Bronx. (There, 99 percent or more of buildings received an A grade.) In the West Village, on the other hand, 76 percent of properties scored an A rating. In the East Village, only 52 percent of properties got an A."  Another area that was highlighted is Elmhurst which received a 92 percent (92%) score and an A.

The worst neighborhoods according to the data was Tremont (Bronx) and Inwood (Manhattan). Nine percent (9%) of buildings in these areas scored an F.  This was followed by West Harlem (Manhattan) with 7.6% of their buildings scoring an F grade.

Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

http://www.blueharbourpropertymanagement.com/two-queens-neighborhoods-score-high-in-rentlogic-survey-of-best-multi-family-rental-buildings/

Queens Home Prices Rise The Most In New York City According To New Report

A new report by StreetEasy indicates that home prices in Queens are increasing the most that any borough in New York City.  Of the 10 neighborhoods identified where prices are soaring throughout the city, 5 are in Queens with Jamaica Estates leading the way with 186% from the same period in 2016.  StreetEasy looked at its listings data and at records from the New York City Department of Finance. Median sales prices from the third quarter of 2017 were compared with those during the same period in 2016, and only neighborhoods with at least 25 sales were considered, to avoid artificial spikes.

The report indicates that although median sales prices have gone up it doesn't necessarily mean that the values of such houses in the area have increased.  StreetEasy Senior Economist Grant Long states “The price of homes in a neighborhood can go up for many reasons.  For example, the value of existing homes in the area may have gone up; bigger homes may be for sale in the area; or newer, more upscale homes may be on the market.”

The areas of Queens that have been identified are Jamaica Estates (186% increase/ $435,440 median sales price), Clearview (132% increase /$650,000 median sales price), Little Neck (117% increase/$607,500 median sales price), Elmhurst (70% increase/$692,500 median sales price ) and Queensboro Hill (45% increase/$850,000 median sales price).  The rest of the top 10 areas where there has been an increase in home prices are Midtown South- Manhattan (107% increase/$1,339,591 median sales price), Ocean Parkway- Brooklyn (69% increase/$802,500 median sales price), Upper East Side- Manhattan (60% increase/ $1,400,000 median sales price), Ditmas Park- Brooklyn ( 55% increase/ $765,942 median sales price) and Flatiron- Manhattan (43% increase/ $2,706,633).

If you are purchasing a new property or already have a property and looking for professional property management Blue Harbour Property Management may be right for you.  We are a full service NYC property management company servicing Queens, Brooklyn, Manhattan and the Bronx.

http://www.blueharbourpropertymanagement.com/queens-home-prices-rise-new-york-city-according-new-report/