NEW YORK, Oct.19, 2017 /PRNewswire/ Stribling Associates, a leading New York residential brokerage, today releases the third quarter Long Island City Market Report. The report focuses on the Northwest Queens neighborhoods of Astoria, Hunters Point, and Sunnyside. A strong showing for new development condos continued to push sale prices in the third quarter, with the area setting a record average price per square foot, at $1,097.
“Long Island City was once thought of as a purely industrial zone,” acknowledged Garrett Derderian, Director of Data Reporting at Stribling. “However, development over the past several years has been tremendous, and the area is now the fastest growing neighborhood in the country. In the most recent quarters, price records have almost always been broken, and the third quarter was no exception.”
The report highlighted that while condos were the driving force