Flushing, Queens, real estate is hot - Fox 2 News Headlines

Flushing, Queens, real estate is hot

Posted: Updated:
NEW YORK (MYFOXNY) -

Flushing, Queens, is one of the most ethnically diverse neighborhoods in the city. Now it's becoming known as one of the hottest real estate markets.

Real estate broker David Schechtman, of Eastern Consolidated, says if you have money to invest you should get in now while the gettin' is still good. Schechtman says in Queens you'll pay on average between $400 and $500 a square foot for commercial space compared to about $1,000 a square foot in Manhattan. Residential property is also cheaper here.

Experts say another attractive feature about flushing is that there is actually land to build on and you can build out unlike Manhattan where you have to build up.

Construction begins this year on the Willets Point retail, hotel and residential project across from Citi Field. High-end retailer Nordstrom is moving in to the Skyview Center Mall.

But Crain's New York Business reports the boon is already starting to hurt the small immigrant businesses. Thornton McEnery says big money is coming in from china, raising the price of commercial space to as high as a $1,000 a square foot.

  • Queens NewsQueens NewsMore>>

  • New York's microbrew industry growing

    New York's microbrew industry growing

    Monday, July 28 2014 8:39 PM EDT2014-07-29 00:39:52 GMT
    Local and small beer brewing companies have something to toast. The Brewers Association says microbrew sales grew in the first half of this year; up 18 percent over the same period last year. This comes at a time when overall domestic beer consumption is flat.Ethan Long, one of the owners of the Rockaway Brewing Company in Long Island City, started brewing beer two years ago.
    Local and small beer brewing companies have something to toast. The Brewers Association says microbrew sales grew in the first half of this year; up 18 percent over the same period last year. This comes at a time when overall domestic beer consumption is flat.Ethan Long, one of the owners of the Rockaway Brewing Company in Long Island City, started brewing beer two years ago.
  • Mayor de Blasio, Bratton seek to improve police-community relations

    Mayor de Blasio, Bratton seek to improve police-community relations

    Monday, July 28 2014 6:47 PM EDT2014-07-28 22:47:07 GMT
    Back from vacation, Mayor Bill de Blasio is addressing the allegations of police choke holds. Standing next to his police commissioner and standing by him, de Blasio declared police community relations will improve by Bill Bratton's call for retraining of officers. The mayor did say that police choke holds are not acceptable.
    Back from vacation, Mayor Bill de Blasio is addressing the allegations of police choke holds. Standing next to his police commissioner and standing by him, de Blasio declared police community relations will improve by Bill Bratton's call for retraining of officers. The mayor did say that police choke holds are not acceptable.
  • Kayakers breach New York's JFK airport security

    Kayakers breach New York's JFK airport security

    Sunday, July 27 2014 3:46 PM EDT2014-07-27 19:46:29 GMT
    The tower at John F. Kennedy International AirportThe tower at John F. Kennedy International Airport
    Two kayakers have been cited for trespassing after breaching a Kennedy Airport security perimeter.
    Two kayakers have been cited for trespassing after breaching a security perimeter at New York's Kennedy Airport.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices