This article is from
Real Estate Weekly on 9/26/16
I'm not sure they could have possibly chosen a less interesting picture of Jackson Heights for the lead photo, but at least it wasn't of a sari shop!
Queens catching up in race to be the next big thinghttp://rew-online.com/2016/09/26/queens-catching-up-in-race-to-be-the-next-big-thing/Developers, businesses and renters alike are seeing the potential of Queens. Neighborhoods like Corona and Jackson Heights have paved the way for this relatively new trend – not only because they contain a diversity of cuisines – but also because of their accessibility and affordability.
In the first eight months of 2016, the sales volume in Corona, a vibrant neighborhood situated in the heart of Queens, reached a staggering $83.4 million record, outbidding the four quarters of 2015 combined.
Furthermore, the median sale price per square foot continues to rise over the course of this year, reaching a selling point of $354 per square foot, while the number of commercial transactions made increased to 155 – a strong indication of a better year for investment in the neighborhood.
While Jackson Heights’ sales volume figure is not quite as striking, the median price per square foot also continues to accelerate at an impressive rate through the first half of 2016, reaching a selling point of $431 per square foot.
Additionally, Jackson Heights is located four stops away from Midtown Manhattan, which makes it a top choice for not only commercial investments, but also for prospective renters and buyers.
With its established, niche neighborhoods and extensive network of transportation, enclaves like Corona and Jackson Heights continue to see the demand for multi-family properties overtaking availability.
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Topic: Queens catching up in race to be the next big thing (Read 1932 times)