Monday, July 30, 2007

Penny pinching

I was reading the article "Every Penny Counts" in the NYT's Real Estate section this weekend and came across this interesting quote:

"About 15 percent of the Manhattan apartments currently listed by the Corcoran Group and Citi Habitats, and about 30 percent of those in Brooklyn, are less than $450,000. In the Bronx, 38 percent of the listings are under $450,000, according to the Bronx-Manhattan North Association of Realtors; on Staten Island, the figure is 43 percent, according to the local Board of Realtors; and in Queens, 17 percent, according to the Multiple Listing Service of Long Island."

So statistically, Queens is not *that* much cheaper than Manhattan! No wonder we have such a high foreclosure rate.


1 comment:

Anonymous said...

So if Queens real estate ranks second in value to Manhattan (in this particular respect) come we're still being treated like a 4th rate borough when it compared to the percentage of designated individual landmarks and historic districts in the rest of NYC ?

Part of the answer is Queens Borough Hall's continuing anti preservation kissing up to developers and our imperial mayor's wishes !