You are reading

Astoria 3 brm Rents for $5,000 Per Month, Broker Claims it’s a Record

April 29, 2014 By Michael Florio

The rental market in Astoria has just broken through the $5,000 per month barrier.

Justin Kinslow, a broker with Douglas Elliman Real Estate, said he has just rented a 1,700 square foot, two-story town house townhouse for $5,000 per-month, which he claims is a new Astoria record.

Kinslow, who said the record can be verified by going to streeteasy.com, also claimed that there hasn’t been an apartment/townhouse rented for more than $4,000 per-month in Astoria. He said he has also talked to several other real estate experts in the area about these figures.

The $5,000 townhouse, located at 30-56 35th Street, comes with 3 bedrooms, 3 1/2 bathrooms, central air conditioning and heat, which can be controlled by a remote or an iPhone app. Each room features exposed brick walls, white cedar floors, double pane glass windows and recessed lighting with dimmers.

Kinslow said the building’s owner lives in Geneva, Switzerland, and bought the 3-unit building nearly two years ago for $1 million. He gutted it and put roughly $1 million into it with renovations.

The owner was originally seeking $5,500 per-month when it hit the market at the end of January. This was “dramatically higher than any other three bedroom apartment in Astoria,” Kinslow said. He said the closest to that asking price in Astoria was $4,200 and that apartment was on the market for a long time.

Kinslow said he was able to set rent this particularly townhouse due to its location. Being by 30th Ave, “it has great nightlife, restaurants and is only blocks away from the subway,” he said.

“It’s the best location in the entire neighborhood,” Kinslow claims.

He marketed it to people from Manhattan and wound up luring college students from the East Village.

“They like the atmosphere and the feel that everyone has a stake in the community,” said Kinslow.

“This is much better then what they could get in Manhattan, even at the high price tag,” Kinslow said.

interior

 

email the author: [email protected]

5 Comments

Click for Comments 
YEAH RIGHT

AS SOON AS RESIDENTIALS LEVEL OFF AND GET SATURATED THE COMMERCIALS RENTS WILL GO THRU ROOF AND THAT CYCLE WILL AHVE THAT SAME APT RENTING FOR HALF THAT IN 5 YEARS

Reply
Skeptical

Does it ANYONE find it odd how its’ the real estate agents always publishing the “record high” rents and purchases lately?

Let me put it another way…suppose there was no stock market ticker, and only stock traders posted the prices of stock they had for sale (therefore, no transparency), what’s the probability that the price of the stock they were selling would be REALLLLLLY exaggerated? I’d think most people would say it’s almost guaranteed!!!

But for stocks, we have an “inside market” and a transparent system of quoting prices. Not so for real estate. So we’re left to hear from the real estate agents that prices are soaring through the roof, which then allows them to justify inflated pricing for rents and home sales, which then causes renters/purchasers to overpay, and then the cycle continues.

When real estate prices in Astoria were not dropping in 2008-2009 when real estate prices everywhere else were (INCLUDING Manhattan), something was definitely wrong. And don’t tell me it’s “supply and demand”. Without a transparent market, it’s all a scam, which we pay the overinflated price for.

Reply

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

3 men sought for armed robbery in East Elmhurst home invasion near LaGuardia Airport: NYPD

The NYPD is looking for three men who allegedly robbed an East Elmhurst man of tens of thousands of dollars during a home invasion early Monday morning.

Police from the 115th Precinct in Jackson Heights responded to a 911 call of an armed robbery at a townhouse located at 108-09 Ditmars Blvd. near 29th Avenue just south of LaGuardia Airport.
The victim had pulled up in front of his home just before 2 a.m. when he was approached by three suspects. One of them pulled out a firearm and forced him inside the townhouse where they stole around $30,000 in cash and a safe that contained an unspecified amount of jewelry, before exiting and driving off in a silver four-door SUV, police said.

Brooklyn man charged with manslaughter, DWI, for Astoria collision that killed his wife: DA

New details have emerged in the case against a Brooklyn man who allegedly crashed into several cars in Astoria last week while driving drunk, and then drove off in the wrecked vehicle to a residential block in Maspeth four miles away with a gravely injured passenger. The passenger turned out to be his wife, who later died, and the boozed driver told investigators that the couple was being followed when the collision occurred, according to the criminal complaint.

Rey Perez, 27, of Caton Avenue in Flatbush, was arraigned on Friday in Queens Criminal Court on charges of manslaughter, vehicular manslaughter and other crimes for speeding through stop signs last Thursday morning, crashing into another vehicle and two parked cars, before speeding from the scene to Maspeth where he sought help for his wife, 29-year-old Bridget Enriquez, who later succumbed to her injuries.

Woman sought for slashing cabbie during a robbery near LaGuardia Airport: NYPD

Police are searching for a woman who attacked a cab driver in East Elmhurst during a robbery more than two weeks ago.

The incident occurred in the early morning hours of Sunday, Feb. 11 after the cabbie picked up the suspect in Manhattan. The driver told investigators that the woman initially wanted to be taken to LaGuardia Airport but instead decided to be dropped off  nearby in front of 89-00 23rd Ave. at around 2 a.m.