Report Finds Queens Outpacing Rest of City in Investor Sales

According to a report put out last week my Massey Knakal Realty Services, investor sales in Queens in the first half of 2013 jumped significantly over the first half of 2012. The number of sales in the borough increased 21 percent over the first half of the previous year and the total dollars in sales — $530 million — was up two percent. That is in contrast to the city as a whole where sales dropped by 5 percent in the first half of this year and the dollar volume was down by 6.6 percent compared to the first half of 2012. The overall drop in sales was expected due to a surge in sales in late 2012 caused by the increase in capital gains tax. All of this makes the sharp rise in sales in Queens particularly notable.

Photo: fedira