Author Topic: 34th Ave/Property Values  (Read 1412 times)

Offline Eastway

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34th Ave/Property Values
« on: May 26, 2021, 06:25:38 AM »
Any real estate agents out there with thoughts on how Open Streets has actually affected 34th Ave property values, if at all so far.

Please no rants, just looking for anecdotal selling/buying experiences.

Offline Jeffsayyes

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Re: 34th Ave/Property Values
« Reply #1 on: May 26, 2021, 12:13:17 PM »
i live on 73 and 37 and would much prefer to be on 34th ave than 35th ave. I do have a car but can never count on getting a space in front of my place anyways.

Offline itsit

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Re: 34th Ave/Property Values
« Reply #2 on: May 26, 2021, 12:34:41 PM »
 A realtor I know said they removed four properties on 34th Ave from the listings. They weren't moving and any offers made had been very low. Advice is to wait till fall and see how things go this summer. Better to live near Open Streets, than on OS, is how I think most people see it.

Offline Reverse_Seared

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Re: 34th Ave/Property Values
« Reply #3 on: May 26, 2021, 04:57:31 PM »
When I’ve chatted to non-driving friends outside the neighborhood about the possible creation of a linear park, the typical reaction has been, “That’s amazing — it’ll be so nice to have that space so close by” followed by, “What are they going to do with the street? Will there be food trucks and plants and stuff?”

My assumption is that this is good for property values for those close to, but not on, 34th Ave — especially if they cater to the preferences of people with money in redesigning the open street. So pretty trees, art installations, and bougie vendors with attractive dedicated seating areas are going to be much better than the current arrangement.

Offline CaptainFlannel

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Re: 34th Ave/Property Values
« Reply #4 on: May 27, 2021, 09:09:21 AM »
There's been a solid year of OS now, with apartments going on the market post shutdown for at least six months. I'd rather hear from an actual real estate agent with the time/resources to crunch the data -- since after all, coop sales are public information -- on the subject of property values on 34th Avenue compared to property values elsewhere.

Offline itsit

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Re: 34th Ave/Property Values
« Reply #5 on: June 11, 2021, 10:00:02 AM »
There's been a solid year of OS now, with apartments going on the market post shutdown for at least six months. I'd rather hear from an actual real estate agent with the time/resources to crunch the data -- since after all, coop sales are public information -- on the subject of property values on 34th Avenue compared to property values elsewhere.
  How does one find out this info? Is anything moving here on 34th Ave? Online forum the other night suggested plans are still fluid and there is little money in the hopper for projects. But all the mayoral candidates say they want more bike lanes and open streets. I hope they give us back the previously well used 34th Ave bike lane and make the Open Streets have different hours. Could solve lots of the tension that now exists here.

note- technically there are still bike lanes on 34th Ave but at different times of day they are harrowing because of people in the lanes, speeding e-bikes and unmarked sections. Sometimes peaceful but often, not! 31st and 32nd Avenue are now much more reliable bike lanes.

Offline CaptainFlannel

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Re: 34th Ave/Property Values
« Reply #6 on: June 11, 2021, 01:18:21 PM »
^The ACRIS database has property records. You can keep tabs on how much all your neighbors paid for their homes.
 :)  Best way is to look up the BBL# (Borough, Block, Lot) of the buildings. I don't remember how to do it, but we used this database extensively when looking to buy and we were narrowing in on which apartments and buildings we liked enough to consider an offer on. It was really helpful to have some actual data to work from.

https://a836-acris.nyc.gov/CP/

I don't know if realtors have better databases to get the same info, but they may have more time/resources to target the buildings along 34th Avenue and then compare them to sales off 34th to see if what I think has been a bit of a price decline since the pandemic began. I know one or two units closed in my building last summer at prices that suggested they went in to contract before the Covid shutdown, and since then there's been a price slump.

Offline hfm

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Re: 34th Ave/Property Values
« Reply #7 on: June 11, 2021, 11:03:09 PM »
^The ACRIS database has property records. You can keep tabs on how much all your neighbors paid for their homes.
 :)  Best way is to look up the BBL# (Borough, Block, Lot) of the buildings. I don't remember how to do it, but we used this database extensively when looking to buy and we were narrowing in on which apartments and buildings we liked enough to consider an offer on. It was really helpful to have some actual data to work from.

https://a836-acris.nyc.gov/CP/

I don't know if realtors have better databases to get the same info, but they may have more time/resources to target the buildings along 34th Avenue and then compare them to sales off 34th to see if what I think has been a bit of a price decline since the pandemic began. I know one or two units closed in my building last summer at prices that suggested they went in to contract before the Covid shutdown, and since then there's been a price slump.

I think people generally were paying less for NYC real estate since 3/2020. It would be interesting to see a trend if we truly go back to normal and 34th stays open. We'd probably need at least 2 years of data through 2022 for it to mean anything though. Actually probably tack 2023 spring/early summer on there.

Offline CaptainFlannel

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Re: 34th Ave/Property Values
« Reply #8 on: June 12, 2021, 12:34:56 PM »
^And I think the market had already gone soft before the pandemic started. I know there was a point where our apartment had doubled in value over a three year period, and then the market softened and likely value on the market was about 20% less. And I'm talking actual sales prices not listing prices. I keep on top of it because I like having an idea of my net worth (on paper), and toy with the idea of selling and moving somewhere else.

Offline abcdefghijk

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Re: 34th Ave/Property Values
« Reply #9 on: June 12, 2021, 06:05:49 PM »
As well as property values decreasing, rents are also lower across the board in New York.

Jackson Heights Life

Re: 34th Ave/Property Values
« Reply #9 on: June 12, 2021, 06:05:49 PM »