Author Topic: Rents in JH going up?  (Read 2050 times)

Offline Shelby2

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Rents in JH going up?
« on: December 11, 2012, 11:16:04 PM »
It seems like during most of the 6 or so years I've been in Jackson Heights that rents for one bedrooms had generally been between $1300-$1500 and just recently I've noticed more that are priced at $1600 to $1800.  Have they been slowly creeping up or is this fairly sudden (in the past year)?

Offline dssjh

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Re: Rents in JH going up?
« Reply #1 on: December 12, 2012, 09:13:04 AM »
i agree, Shelby, and it seems like a sudden jump to me. i've noticed it more in the 2 BR range, since that's the size i have. those have passed the 2K mark, and some realtors are advertising 2300 per month, it seems.

deb

Online StevenGrey

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Re: Rents in JH going up?
« Reply #2 on: December 12, 2012, 10:56:27 AM »
Earlier this morning on NewsRadio88, a report said that while Manhattan rents seem to have recently plateaued, rents in desirable areas of Brooklyn were rapidly approaching Manhattan levels. I presume any recent price spikes in our neighborhood are probably being caused by a trickle down effect.

Offline rhydewithdis

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Re: Rents in JH going up?
« Reply #3 on: December 12, 2012, 12:20:41 PM »
Same for sunnyside / woodside and indeed it is spillover effect. Manhattanites and even Brooklynites are being priced out of their places when their leases come up for renewal so they move to cheaper digs. Not standing by idly, realtors and landlords in JH, Astoria, Sunnyside, etc. bump up the rents to what the market will bear.

Offline JH3525

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Re: Rents in JH going up?
« Reply #4 on: December 12, 2012, 11:50:13 PM »
I know someone who rented a 700SF one bedroom at Washington Plaza (35th Ave & 73 St) on February 1st for $1350.  There's a similar unit currently available for $1550.  That's a sharp increase in such a short period of time.  I wonder what impact this will have on sales in JH's. 



Offline agentarmen

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Re: Rents in JH going up?
« Reply #5 on: December 13, 2012, 06:44:32 PM »
Even though my partner and I generally don't do many rentals, we recently took a coop rental listing, a 1 bedroom converted to 2 (JR 4) at $1995/mo, fully convinced we will be struggling against what we knew rental prices to be in the heights. In less than one month we got a full price offer after twelve showings. We also checked with some local small landlords for availability of 2 bedrooms, it appeared they started pricing above 2k. Calls are still coming in on the 2 bed we rented, so as the demand increases it's inevitable that the prices will rise.

Warmly,
Armen
www.jacksonheightslistings.com

Offline Shelby2

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Re: Rents in JH going up?
« Reply #6 on: February 05, 2014, 08:13:25 PM »
I was just browsing the apartments for rent on craigslist, looking for a friend who wants a $1300 studio, and found this outrageous ad for what looks like a basement room lined with kitchen equipment on one side, and a "bathroom down the hall shared with the super" for $1400 in JH.  I was thinking rents were going up but that seems delusional on the part of the person placing the ad.  What do you think?
http://newyork.craigslist.org/que/abo/4313998606.html




This is a studio style open space, renovated and looks really nice. By NY standards, this place is a lot of space.

The kitchen is new with nice size cabinets and granite counter tops. The bathroom is in the hallway and shared with the super.

The studio could come fully or partially furnished.
The apartment has access to a very large yard.
Pet is ok on a case to case basis.

WiFi access available. Utilities are tenant responsibility, a flat fee bundle can be discussed.

Transportation - within walking distance to E F G R 7 trains, can also bus (Q32, Q33) from front of the house if wishing to skip the walk. About 45min from doorstep to midtown area in commuting hours.

This is an ideal place for a professional, tight roommates, or couple (max occupancy is 2).

Offline Minimal4me

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Re: Rents in JH going up?
« Reply #7 on: February 05, 2014, 08:46:18 PM »
We moved to Queens from Brooklyn and rented out my old apartment there to a young couple in their late 20s/early 30s -- 600 sq ft for $2500 a month. They had no plans to buy any time soon but they both had good jobs and they had high standards and were willing to pay quite a bit to live in a well-appointed apartment in a location that was safe, a close commute to work, and had local amenities. I agree with the poster who mentioned the spillover effect.

We bought here because we wanted a larger apartment and were priced out of CG. I'm sure renters are feeling the same.

Queens is on the upswing! I am completely confident of this.


Offline HAMjacksonheights

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Re: Rents in JH going up?
« Reply #8 on: March 01, 2014, 01:47:02 PM »
I was just browsing the apartments for rent on craigslist, looking for a friend who wants a $1300 studio, and found this outrageous ad for what looks like a basement room lined with kitchen equipment on one side, and a "bathroom down the hall shared with the super" for $1400 in JH.  I was thinking rents were going up but that seems delusional on the part of the person placing the ad.  What do you think?
http://newyork.craigslist.org/que/abo/4313998606.html




This is a studio style open space, renovated and looks really nice. By NY standards, this place is a lot of space.

The kitchen is new with nice size cabinets and granite counter tops. The bathroom is in the hallway and shared with the super.

The studio could come fully or partially furnished.
The apartment has access to a very large yard.
Pet is ok on a case to case basis.

WiFi access available. Utilities are tenant responsibility, a flat fee bundle can be discussed.

Transportation - within walking distance to E F G R 7 trains, can also bus (Q32, Q33) from front of the house if wishing to skip the walk. About 45min from doorstep to midtown area in commuting hours.

This is an ideal place for a professional, tight roommates, or couple (max occupancy is 2).


Shelby--That place looks like a MESS but a yard and possible furnished could draw in people but it does not warrant $1400! I pay $400 less and I have a 1bedroom in prime JH!

Offline Shelby2

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Re: Rents in JH going up?
« Reply #9 on: March 05, 2014, 07:37:51 PM »

Shelby--That place looks like a MESS but a yard and possible furnished could draw in people but it does not warrant $1400! I pay $400 less and I have a 1bedroom in prime JH!

Wow, sounds like you got an amazing deal.  I have just been seeing alcove studios in the vicinity of 75th and 37th being listed at $1500.  That's the highest price I've seen for a studio in this area.  So I think rents are continuing to climb.

Offline enfr11215

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Re: Rents in JH going up?
« Reply #10 on: April 01, 2014, 08:53:10 PM »
When to Stop Renting and Purchase Your Own? 1. When Rent Significantly Exceeds Mortgage Payments.
Firdos Kumandan
Keller Williams Realty Jackson Heights
Licensed Real Estate Salesperson
cell: 347-885-9302
email: fire11215@gmail.com

Offline dssjh

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Re: Rents in JH going up?
« Reply #11 on: April 01, 2014, 10:13:22 PM »
or, for most of jackson heights, mortgage payments plus maintenance charges.

on a typical one bedroom selling for 199K, we're talking a mortgage of $150K, a mortgage payment of roughly 1100 (ish). maintenance of 750 (ish)

that's 1850. rent for the average one bedroom?




When to Stop Renting and Purchase Your Own? 1. When Rent Significantly Exceeds Mortgage Payments.

Offline Grabey

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Re: Rents in JH going up?
« Reply #12 on: May 23, 2014, 09:30:35 PM »
Can you point to a listing for these? I'm curious to see which buildings these are in. My rent increased substantially this year - but we're still getting a good deal when compared with the other listings that I've seen.



Wow, sounds like you got an amazing deal.  I have just been seeing alcove studios in the vicinity of 75th and 37th being listed at $1500.  That's the highest price I've seen for a studio in this area.  So I think rents are continuing to climb.