Home Buying in 11102>Question Details

Peter, Renter in Astoria, NY

Do you think that Astoria has reached its peak in price?

Asked by Peter, Astoria, NY Sat Mar 31, 2012

Help the community by answering this question:

Answers

7
QueensJay’s answer
With Manhattan Studios averaging $2,495 (The Metro and AM Paper front page cover subject titled "Rent Too Damn High") I cannot see Astoria reaching the ceiling just yet. In fact, realizing this, Eastern Queens Landlords know they have a whole lot more to offer based on Square footage, low crime statistics, Cleanliness, and proximity to city. It's just a matter of time before these Manhattanittes realize $2,500 does not justify living in a room with 4 walls measuring under 600 square feet.. Not to mention Crime statistics and filthy conditions.
0 votes Thank Flag Link Thu May 3, 2012
In my personal opinion, Astoria has much more to grow. It may slow down for a period but in the long run there is still a high upside. It may not be Manhattan and most likely will never be on the same level in terms of values, however it will continue to piggyback the values in the city, therefore it will continue to grow.
0 votes Thank Flag Link Thu Jul 25, 2013
You make a great point about Astoria, I love it here and do see it as having massive potential.
But your argument has one flaw, it's not on the Island, that natural border I strongly believe greatly defines the unique brand that Manhattan offers.
Once you are over the water, it just gets cheaper and cheaper the further you go out.

My conclusion, Astoria a lovely place but not Manhattan!
So rent per square ft will be only Max 75% of the cheapest apartment under 105th St.
0 votes Thank Flag Link Sun Mar 24, 2013
Astoria and Long Island City, are going to continue and will keep going up. The closer to you get to Manhattan the better.There are many things a Realtor does to help get you the best deal. In representing and helping on the path to homeownership, Fajardo 347 932-0609
0 votes Thank Flag Link Sat Mar 31, 2012
Short Answer- No. I'd be curious as to you are asking?
0 votes Thank Flag Link Sat Mar 31, 2012
what do you mean?
Flag Sat Mar 31, 2012
Since you asked 'what do you think' I am happy to give my personal opinion.

As Astoria is in such a conveniently close proximity to the city, I think values will continue to rise at the speed of the city properties.
0 votes Thank Flag Link Sat Mar 31, 2012
Unfortunately none of us can answer with accuracy, as none of us knows where the market will head tomorrow or down the road; therefore if you are ready to buy and need to buy, no reason not to consider the idea. For available area properties check out http://www.mlsli.com
0 votes Thank Flag Link Sat Mar 31, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer