Closing Bell: Gentrification Is Coming for Queens

That’s the title of a post today on New York Magazine’s Daily Intelligencer blog. The article refers to the first quarter market report released this morning, which shows growing prices and decreased inventory in both Queens and Brooklyn. Jonathan Miller, the man who crunched the numbers, said this: “Queens is benefiting directly from Brooklyn’s success… You’re seeing spillover across the lines and adjacent areas are likely to benefit moving forward. If you think Brooklyn is here to stay in terms of the success and the changes it has undergone in terms of the public’s perception of the borough then Queens is right there, too.”

Miller and Douglas Elliman’s director of sales Yuval Greenblatt recommend that buyers check out Ridgewood, Maspeth, Long Island City and Woodside. The above image is of Icon 52, the new “affordable luxury” rental development that started leasing in Woodside early this year.

Gentrification Is Coming for Queens [NY Mag]
Queens Sales off to Strong Start in First Quarter [Q’Stoner]