Author Topic: Washington Plaza  (Read 130370 times)

Offline Lilybell

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Re: Washington Plaza
« Reply #180 on: May 06, 2016, 02:30:31 PM »
Quote
I think realtors are looking to position JH as the next Park Slope

A realtor tried that here a few years ago - he even made some cartoon logo guy named "Jack Heights" or something. And put signs all over Park Slope advertising JH.

http://observer.com/2008/11/the-broker-who-would-make-jackson-heights-the-next-park-slope/

The timing was wrong but I do think we are sort of heading in that direction (but I don't think we will see the same type of businesses arriving here unless something drastic happens to lower commercial rents in the hood).

Offline CaptainFlannel

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Re: Washington Plaza
« Reply #181 on: May 06, 2016, 06:24:51 PM »
I don't think the market for JH is in Park Slope. (Except for maybe renters there who have hung on to the same rent stabilized apartment for the last 15 years.)  Brooklyn has been a thing for a long time, but now that more and more of it has been gentrified, people are turning to Queens. And let's face it, Queens isn't known for its beautiful architecture. JH is actually quite a physically attractive neighborhood. (Though we don't have much in the way of views out here)


Offline CaptainFlannel

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Re: Washington Plaza
« Reply #182 on: May 06, 2016, 06:27:36 PM »
interesting write up. Looks like a beautiful building. Compared to Bklyn, looks like a good buy.                                                                                          https://www.google.com/url?rct=j&sa=t&url=http://queenstribune.com/washington-plazas-reinvention-refurbished-co-op-in-jackson-heights-begins-sales/&ct=ga&cd=CAEYACoUMTM2MzczMjAxOTA3NDMwODc1NTcyGmZlMjdmMTg0OTgxMDIwOTc6Y29tOmVuOlVT&usg=AFQjCNF5a-FK2ssq17Sdhmh_kaQ_lXBzjA
That reads like a press release used verbatim.

Offline Shelby2

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Re: Washington Plaza
« Reply #183 on: May 06, 2016, 08:13:46 PM »
Nu-Place Realty seems to achieve excellent results with its PR.  They even managed to get several paragraphs (!) in an article about Elmhurst in the NY Times this week in a "Living In" article: NY Times: Elmhurst, Queens, a ‘Crossroads of the World’

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"According to the 2013 edition of “The Newest New Yorkers,” published by the New York City Department of City Planning, in the period 2007 to 2011, 71 percent of Elmhurst’s residents, or 77,100 people, were foreign-born. But brokers said newcomers from Manhattan, brownstone Brooklyn and Forest Hills, Queens, were also trickling into Elmhurst, drawn to its low-rise, lights-out-early streets, lower housing costs and proximity to the subway.

Among them are Jenny Oliver, a 31-year-old physician assistant, and her husband, Gareth Oliver, 35, who works in finance in Midtown Manhattan. The couple had a baby last year and were outgrowing their one-bedroom rental on the Upper East Side, which cost $3,500 a month. They were also paying $500 a month to park their car.

In November, the Olivers moved into a gut-renovated, two-bedroom, 1,100-square-foot co-op in the Continental Park on 51st Avenue in Elmhurst, paying $452,000. Common charges are $950 a month, and they park free on the street.

“Before we put an offer in, we came out and walked around at night and on the weekend, and found a lot of families, and liked the diversity,” Ms. Oliver said. “In Manhattan, everything we saw was so tiny and so expensive.” She was also delighted to discover Elmhurst Park, on Grand Avenue, where 9-month-old Jake can play.

Yael Goldman, an associate broker with Nu-Place Realty, said her company had sold almost 60 apartments in the last year in the 153-unit Continental Park. Developers had bought 79 sponsor units in the 1962 co-op and overhauled them while modernizing common areas; the renovated apartments went on the market in 2014.

“People who are priced out of Brooklyn and Manhattan and looking for an urban feel are coming to Sunnyside and Woodside, and now farther east is catching up,” Ms. Goldman said. “There’s great food of all kinds and shopping nearby, and they’re seeing it as hip.”"

Offline Simka

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Re: Washington Plaza
« Reply #184 on: May 07, 2016, 12:34:05 AM »
Yes, I moved here three years ago, and at that time I was looking for a large one-bedroom/small two-bedroom for $250K-$300K. They existed, but I wasn't in a big hurry since I was tuckered out from selling my coop and moving and I had a one-year lease on my apartment. I continued looking but didn't find anything I liked enough to make me want to move, since I liked my apartment at Washington Plaza (and also had pretty specific wants re coops). Well, prices have steadily moved upward since then. What was in my price range then is in the high $300s to mid-$400s now. And I may be wrong, but it seems to me that even more apartments have been newly renovated by the owners, which adds on to the asking price. I think that three years ago I was seeing more apartments that had not been redone in a while.

You may be right about the renovations, but one thing to consider is that there are more realtors who have a finger in the pie now in Jackson Heights, and they tend to want to present listings of turn-key apartments.  I'm thinking of places like Armen and Armen of Core Realty,  Helen Van Rhyn from Brown Harris Stevens and Jon Fisher of Douglas Elliman.   Looking at Streeteasy, these are the types of listings you'd be more likely to see.  I haven't looked in a while, but I suspect if you search the mlsli that you would find more that are unrenovated. http://www.mlsli.com/Listing/ListingSearch.aspx

You may be right about that. But I have noticed, in general, an awful lot of renovating going on everywhere, even in other cities. (I browse a lot.) I suspect that HGTV has had something to do with it, too. :)

Offline Simka

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Re: Washington Plaza
« Reply #185 on: May 07, 2016, 01:01:18 AM »
I just noticed that there are now three apartments listed as "in contract" in the Nu-Place site.

Offline Lilybell

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Re: Washington Plaza
« Reply #186 on: May 09, 2016, 12:09:35 PM »
simka, I have a feeling they are the same ones we heard about in late April but that they were still working on getting financing so they didn't become under contract until it was too late for the May 1 posting.

I was home sick all weekend and they only showed the vacant apartment on my floor once. Maybe mother's day weekend is usually slow, I have no idea. 



Offline Lilybell

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Re: Washington Plaza
« Reply #187 on: May 10, 2016, 03:07:26 PM »
Just noticed a 4th apartment is in contract (one of the floorplans I really like, C64)

Offline Simka

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Re: Washington Plaza
« Reply #188 on: May 11, 2016, 01:11:34 AM »
Just noticed a 4th apartment is in contract (one of the floorplans I really like, C64)

Oh, interesting. I'll have to look at that listing.

The man who lived in C66 appears to have moved out, so there's another apartment headed for the market.

Offline petster

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Re: Washington Plaza
« Reply #189 on: May 11, 2016, 11:21:16 AM »
Funny. I just watched a segment on the news about the most gentrified neighborhoods. Jackson Heights was NOT on the list. They noted that the cheapest studio apartment in Bushwich was 2 grand a month to rent. Not that it's right but it certainly puts things in perspective.

Offline Lilybell

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Re: Washington Plaza
« Reply #190 on: May 11, 2016, 12:10:49 PM »
I think the only way JH is going to gentrify is if something drastic happens to lower commercial rents. And I don't see that happening unless there's a major demographic shift in our neighborhood which makes South Asian business owners no longer want to open up here.

Offline dssjh

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Re: Washington Plaza
« Reply #191 on: May 11, 2016, 02:13:16 PM »
it's easier to gentrify a neighborhood when landlords can and do torch buildings or hire armed thugs to threaten tenants out of their homes. much, much tougher to do either of those to co-op/condo owners.

Funny. I just watched a segment on the news about the most gentrified neighborhoods. Jackson Heights was NOT on the list. They noted that the cheapest studio apartment in Bushwich was 2 grand a month to rent. Not that it's right but it certainly puts things in perspective.

Offline CaptainFlannel

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Re: Washington Plaza
« Reply #192 on: May 11, 2016, 05:53:49 PM »
Gentrification may not be the right word for this neighborhood. JH around the historic district seems solidly middle to upper-middle class. (At least for coops.) Whatever word you choose though, property values are going up.

When I came to the neighborhood two years ago, a one bedroom apartment was within the price range I was comfortable with. Now the asking prices are higher than I would have been comfortable with, and comparable to the prices I was seeing in Sunnyside two years ago, when I decided to look outside of that neighborhood.

Offline Lilybell

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Re: Washington Plaza
« Reply #193 on: May 12, 2016, 10:20:05 AM »
I vaguely remember taking a seminar on gentrification (at work) a couple of years ago and it talked about factors that lead to it.  A lack of amenities (grocery stores, pharmacies, etc) and low commercial rents were strong factors. 

I think what JH is undergoing would be called something more like "urban growth".

We are up to 5 apartments in contract at Washington Plaza now. I'm so annoyed that they are waiting until the last minute to get back to us on our group discount request.

Offline Simka

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Re: Washington Plaza
« Reply #194 on: May 12, 2016, 07:28:46 PM »
We are up to 5 apartments in contract at Washington Plaza now. I'm so annoyed that they are waiting until the last minute to get back to us on our group discount request.

Sorry if this sounds negative, but the landlord has persistently refused to budge an inch on anything ever since our lawyer first approached her. I have a feeling she's not going to budge anytime soon, especially after getting five apartments into contract. But I would be very happy to be proven wrong.

Jackson Heights Life

Re: Washington Plaza
« Reply #194 on: May 12, 2016, 07:28:46 PM »