Jackson Heights Life

Get Connected => Real Estate & Home Improvement => Topic started by: Shelby2 on March 23, 2016, 06:57:20 PM

Title: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Shelby2 on March 23, 2016, 06:57:20 PM
NewYork.com: On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now
http://www.newyork.com/articles/real-estate/on-the-rise-8-nyc-neighborhoods-to-buy-or-rent-in-now-03378/
(http://www.newyork.com/articles/wp-content/uploads/2016/03/6-jackson-heights_650.jpg)
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: iqtsarah on March 23, 2016, 10:15:06 PM
Jackson Heights is a great area to live. I grew up in JH and loving it. And I have notice home prices has grow significantly. Of course it's a good thing for people who already own. But what about the local JH people who are looking to buy for the first time or to upgrade. Will they feel price out? For example, few of the 2bed/2bath elm court or Hawthorne Court are listed at 669k last fall. And then this year they're are listed at 745 and 749k. That's $80,000 in creased in just 6 months time. I guess all the news and pr are really helping the price grow and making new people want to move in to JH.

:)
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Palermo on March 24, 2016, 09:31:52 AM
The whole borough is riding the same wave.
http://qns.com/story/2016/03/23/queens-makes-list-of-most-expensive-housing-markets-in-north-america/
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: dssjh on March 24, 2016, 10:13:45 AM
cue the 2018 headline: "Kingsbridge Is the New Jackson Heights"

"For those who missed the Jackson Heights wave, there's good news in the Bronx...."

The whole borough is riding the same wave.
http://qns.com/story/2016/03/23/queens-makes-list-of-most-expensive-housing-markets-in-north-america/
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: eddie on March 24, 2016, 10:28:09 AM
at this point every NYC hood is "up and coming"...
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: JH3525 on March 24, 2016, 10:55:14 AM
Someone recently made me aware of the bargains available in Riverdale.   Riverdale has 90 units available under $200K and 123 units under $300K according to Streeteasy.   Jackson Heights has nothing available under $200K and just 5 units under $300K.   However, I'm not certain what the commute is like into Manhattan since I've never been to Riverdale.  It certainly is worthwhile looking into for someone retired or works from home. 
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: dssjh on March 24, 2016, 11:05:54 AM
Riverdale is a quick commute, but not as convenient, since it's only served by one train (the 1 train). the housing stock is very, very nice, but there's not as much in the way of restaurants/shopping.

i'd also take a look at the location of the lower end places. like the folks who think 105th and Roosevelt is Jackson Hts, there are those who use "Riverdale" to signify anything close to the neighborhood.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: eddie on March 24, 2016, 11:07:56 AM
Riverdale also seems to have a ton of inventory available at all times, which hurts prices. but as said above, it's really not a convenient neighborhood. and while the prices are cheap, the coop maintenance's tend to be very high. so even if you buy a place in cash you always have a hefty monthly payment that will only keep going up and up.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: ljr on March 27, 2016, 02:55:57 PM
When we moved from Upper Manhattan 4.5 years ago, we narrowed it down to Riverdale vs Jackson Heights.  There absolutely are very nice apartments quite cheap in Riverdale. I would not assume they are in bad parts of the neighborhood. But--the 1 train is far away from the nicest apartments, which are next to the Hudson River. People take a bus down to the 1 train. There are also express busses and Metro North--which you have to take a bus to even from close by, unless you want to walk down a long, steep staircase or down a long, winding road to get to the station. And trains don't run often except at rush hour. Thus--transportation is definitely more difficult and you really have to have a car in Riverdale. There is much more natural beauty, river views, parks, etc, than in Jackson Heights. But much less nightlife--fewer restaurants, cafes, and retail in general. It's more suburban. Plus many of the apartments are located close to the main roadway, often overlooking it, with associated traffic noise. All in all, we chose JH for its much better transportation options and much livelier street life and artsier, less conservative vibe. Also it's true that the maintenance fees are higher in Riverdale, but you do get parking, doorman, etc for those fees. So if you want a nice, big apartment with a terrace, river views, gym, sometimes even an outdoor swimming pool, parking, doorman—you can get great deals in Riverdale without a doubt.  I think it's the remoteness and the large amount of postwar hi-rises that keep prices on the low side up there.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: JDinJH on March 28, 2016, 08:11:03 PM
When we moved from Upper Manhattan 4.5 years ago, we narrowed it down to Riverdale vs Jackson Heights.  There absolutely are very nice apartments quite cheap in Riverdale. I would not assume they are in bad parts of the neighborhood. But--the 1 train is far away from the nicest apartments, which are next to the Hudson River. People take a bus down to the 1 train. There are also express busses and Metro North--which you have to take a bus to even from close by, unless you want to walk down a long, steep staircase or down a long, winding road to get to the station. And trains don't run often except at rush hour. Thus--transportation is definitely more difficult and you really have to have a car in Riverdale. There is much more natural beauty, river views, parks, etc, than in Jackson Heights. But much less nightlife--fewer restaurants, cafes, and retail in general. It's more suburban. Plus many of the apartments are located close to the main roadway, often overlooking it, with associated traffic noise. All in all, we chose JH for its much better transportation options and much livelier street life and artsier, less conservative vibe. Also it's true that the maintenance fees are higher in Riverdale, but you do get parking, doorman, etc for those fees. So if you want a nice, big apartment with a terrace, river views, gym, sometimes even an outdoor swimming pool, parking, doorman—you can get great deals in Riverdale without a doubt.  I think it's the remoteness and the large amount of postwar hi-rises that keep prices on the low side up there.

We moved to JH about a year ago from Lower Manhattan.  When we were looking, I was a big advocate of Riverdale, Washington Heights, and Inwood - we could not afford $2.5 million for a three bedroom.  With respect to Riverdale, I love the Hudson and the views from some of the apartments over there.  My wife was not a fan.  She wanted to be closer to her family on the Island.  That is how we ended up in JH, which has been heaven sent.  We love the convenience, diversity, small town feel, and all of the interesting folks we have come to know.  We will probably buy another place in a few years, but I assume that we will keep our place in JH for retirement. 
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Jd143 on April 05, 2016, 10:30:27 PM
The implants from Manhattan are the cause of the high prices.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: ljr on April 05, 2016, 11:08:47 PM
"Implants?" I think you mean "transplants"?
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: iqtsarah on April 06, 2016, 02:48:55 PM
I think more local people in Jackson Heights feels price out in their own neighborhood they grow up in. Because more and more people from other area such as Brooklyn or the city can afford the price here without any hesitation. They can sell their one bedroom apartment with a decent price to upgrade to a two bedroom or three in JH. I think that's what's driving the price up in Jackson Heights because these apartments still sells even the price seems to be high.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: HAMjacksonheights on April 08, 2016, 11:15:10 PM
This is great news for the community. My wife is a JH native and she has seen the neighborhood change many times over. It's super affordable to rent/buy- has so many benefits- transit-proximity to major subway hub, the diversity, great restaurants, farmers market, close knit neighbors- I love it here but it's always good to escape the city- if you can. The past few years we have spent a couple summer months at our beach house and the winters in Cali- just to get away- I've met many JH residents who have homes upstate so I find this to be pretty accurate. I also love the fact that JH lays in a historic district which cannot be compromised with luxury buildings- I think that's what Brooklyn and Manhattan are lacking in most parts, if you head to Clinton Hill or Williamsburg you often see the original architecture being masked by a hideous all glass luxury high rise. That will never happen in JH and I think that's swell.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Simka on April 10, 2016, 11:58:51 PM
This is great news for the community. My wife is a JH native and she has seen the neighborhood change many times over. It's super affordable to rent/buy- has so many benefits- transit-proximity to major subway hub, the diversity, great restaurants, farmers market, close knit neighbors- I love it here but it's always good to escape the city- if you can. The past few years we have spent a couple summer months at our beach house and the winters in Cali- just to get away- I've met many JH residents who have homes upstate so I find this to be pretty accurate. I also love the fact that JH lays in a historic district which cannot be compromised with luxury buildings- I think that's what Brooklyn and Manhattan are lacking in most parts, if you head to Clinton Hill or Williamsburg you often see the original architecture being masked by a hideous all glass luxury high rise. That will never happen in JH and I think that's swell.
I agree, that's true for the historic district. I think it's also safe to say that it's true for land covered by apartment buildings outside the historic district. There's no way a coop or a large rental building full of rent-stabilized tenants is going to be torn down to build a high-rise condo. And much of non-HD Jackson Heights is full of those. I suppose there could still be some "luxury" development on other types of property--maybe by Roosevelt, Broadway, or Northern. But it won't be like what's happened in Williamsburg and LIC.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Palermo on April 16, 2016, 06:58:29 AM
Fillmore 2 bedroom
Sold in March 2014 for $405,000.  Now listed at $599,000.
http://streeteasy.com/building/the-fillmore/2u

The Monroe 2 bedroom
Sold October 2014 for $300,000.  Now listed at $598,500.
http://streeteasy.com/building/35_21-79-street-jackson_heights/6n

The Berkeley 1 bedroom
Sold November 2013 for $279,500.  Now listed at $589,000.
http://streeteasy.com/building/35_25-77-street-jackson_heights/a47

The Towers 3 bedroom
Sold July 2012 for $469,000.  Now listed at $965,000.
http://streeteasy.com/building/33_40-81-street-jackson_heights/61?featured=1

Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Shelby2 on April 16, 2016, 09:56:30 AM
Fillmore 2 bedroom
Sold in March 2014 for $405,000.  Now listed at $599,000.
http://streeteasy.com/building/the-fillmore/2u

The Monroe 2 bedroom
Sold October 2014 for $300,000.  Now listed at $598,500.
http://streeteasy.com/building/35_21-79-street-jackson_heights/6n

The Berkeley 1 bedroom
Sold November 2013 for $279,500.  Now listed at $589,000.
http://streeteasy.com/building/35_25-77-street-jackson_heights/a47

The Towers 3 bedroom
Sold July 2012 for $469,000.  Now listed at $965,000.
http://streeteasy.com/building/33_40-81-street-jackson_heights/61?featured=1

Wow.  Quite a jump.

Btw, I saw the Berkeley one bedroom listing the other day and was really shocked at the price, but then looked at the floor plan.  Besides the large dining foyer and large (usual large size) living room, there is another room off the living room that is 9x16 feet, and in addition to that, a bedroom.  So in fact that one could easily be used as a 2-bedroom without doing any modification.  I guess that's why it's priced like a 2 bedroom.  It's still a high asking pricing and a big jump from 3 years ago, though.
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Simka on April 16, 2016, 10:24:29 PM
Fillmore 2 bedroom
Sold in March 2014 for $405,000.  Now listed at $599,000.
http://streeteasy.com/building/the-fillmore/2u

The Monroe 2 bedroom
Sold October 2014 for $300,000.  Now listed at $598,500.
http://streeteasy.com/building/35_21-79-street-jackson_heights/6n

The Berkeley 1 bedroom
Sold November 2013 for $279,500.  Now listed at $589,000.
http://streeteasy.com/building/35_25-77-street-jackson_heights/a47

The Towers 3 bedroom
Sold July 2012 for $469,000.  Now listed at $965,000.
http://streeteasy.com/building/33_40-81-street-jackson_heights/61?featured=1

Wow.  Quite a jump.

Btw, I saw the Berkeley one bedroom listing the other day and was really shocked at the price, but then looked at the floor plan.  Besides the large dining foyer and large (usual large size) living room, there is another room off the living room that is 9x16 feet, and in addition to that, a bedroom.  So in fact that one could easily be used as a 2-bedroom without doing any modification.  I guess that's why it's priced like a 2 bedroom.  It's still a high asking pricing and a big jump from 3 years ago, though.

I had the same experience of being shocked at the Berkeley price, but I thought the high-end renovations accounted for much of it. I mean, it is a spacious, flexible floor plan, but the renovations are also very slick. I bet that adds on at least $50K.

I also wondered about the Towers apartment till I looked at the listing. Fancy renovations by "Two New York architects." Which sounded impressive to me until I realized most architects doing work on apartments around here are New York architects.  ;D
Title: Re: JH in "On the Rise: 8 NYC Neighborhoods to Buy or Rent in Now"
Post by: Palermo on May 01, 2016, 08:50:43 AM
Another interesting map (I love maps!)

The triangle formed by the IRT/IND 74th Street/Roosevelt, IRT 90th Street and IND Elmhurst stations had a 16.1% increase in median rents from 2015-2016.  That's the highest increase in the boroughs, while Manhattan had a couple higher.

https://www.renthop.com/study/new-york-city-ny/new-york-subway-rents.html