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The neighborhoods with the biggest property value increases in NYC—and where prices could spike next

Brick Underground // Nov 17, 2017

Jackson Heights, Queens

Jackson Heights is a diverse neighborhood known for its stock of gorgeous prewar co-ops, plus relatively affordable post-war co-ops.

Armen Meschian, a broker with CORE, says he’s tracked an eight percent increase in sales prices there year-over-year. He calls it a reliable market, with similar housing stock and types of apartments built roughly around the same time period.

“This market is easy to read,” he says. “So a buyer from afar can do a lot of reading and studying on where prices are headed.”

Meschian suspects this year will bring “record-breaking prices,” with the majority of one-bedroom apartments now closing over $400,000. (One apartment, he says, will come in at over $500,000, a record for the neighborhood.) The median listing price, according to StreetEasy, is $315,000.


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Original Article: Brick Underground