LATEST NEWS

Next Stop For The Gentrification Express—Whitestone, Queens

Whitestone is being courted by buyers and developers. Get it while you can.

By Jeff Vasishta September 27, 2016

[otw_shortcode_dropcap label=”W” font=”Bowlby One SC” color_class=”otw-black-text” background_color_class=”otw-no-background” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap]hen the New York Times describes your town as “as sleepy waterfront neighborhood of tree-lined streets, manicured lawns and salty sea breezes” you best believe that its sleepy days may soon be coming to an end.

This is the fate soon to befall Whitestone in Queens. A 45-minute ride on an express bus to Manhattan, 20 minutes from Astoria and even less to Jackson Heights, it’s impossible to think that Whitestone could be isolated from what’s happening nearby. As the gentrification wild fire sweeps through other parts of Queens, family neighborhoods are being set ablaze with rising rents like a Molotov cocktail just crashed through their living room window.

Related: Here Comes The Neighborhood: Five Reasons Why Affordable Housing Actually Boosts Property Values

The Times article quoted a double digit median house increase of 14 percent from July 2015-2016 which shows that fever is already rising. The good news is that unless eminent domain is enforced, the character of the neighborhood is likely to remain even if the prices don’t. Rentals in multifamily homes compare favorably with the rest of Queens and Brooklyn. A one bedroom rents for $1400 a month, a two bedroom for $1700 and a $2000 for a three bedroom.

download-16
This single-family house at 14-34 164th Street is listed on Agorafy for $2.199M. Find more listings in Whitestone, Queens click on the image.

A quick look at what’s happening in nearby Flushing doesn’t portend rents staying low. According to Trulia, the largely Asian neighborhood increased a meteoric 32 percent in median home sales over the last year. Median rents for all properties escalated an incredible $600 during the month of September.

So what could stave off Whitestone joining the ranks of other overheated and overpriced Queens neighborhoods? Firstly, there is no available subway nearby which virtually hipster-proofs a neighborhood. Those who drive to work outstrip those who use public transportation by two to one. Secondly, it’s not like you can get to Whitestone through quaint, meandering country lanes on fixed gear bikes. There’s either the Whitestone Bridge or Expressway to navigate, which has all the intimacy of a picnic on a runway at JFK. Finally, if it’s box chain stores and the convenience of bulk buying you’re after then take your station wagon or SUV elsewhere. This is a neighborhood that still proudly has kayak launch strips and bocce courts.

Get it while you can, people. It’s New York. And even Whitestone isn’t likely to remain unspoiled for long.

Jeff Vasishta

ABOUT THE AUTHOR Jeff Vasishta

ABOUT THE AUTHOR Jeff Vasishta

Jeff is a writer, husband and father but not necessarily in that order. As a music journalist he counts Prince, Beyonce and Quincy Jones amongst those he’s interviewed. He's also owned and flipped homes in Brooklyn, NJ, CT and PA.

  • AGORAFY
    Avocado toasts are the reason why millennials can’t afford a home, says one Australian real estate developer. #AvocadoToast #Millennials https://goo.gl/TBCPnv
  • AGORAFY
    Five years on since Superstorm Sandy, Queens’ coastal peninsula is in the midst of a development boom. #Development #Rockaways https://goo.gl/BRKRrD
  • AGORAFY
    It turns out, renters can’t get enough of good ol’ no-doorman-no-frills apartments. Too bad developers aren’t building any. #Doorman #LuxuryRentals https://goo.gl/pdnbo6
The Housing Market In Shenzhen, The Silicon Valley of China, Slows In 2017
The city of Shenzhen has been on the real estate radar for quite some time. It is known as the Silicon Valley of China. Many…
Developers Jump Aboard The Trend To Revamp Transit Hubs And Remake Cities
Never has the often used marketing term, “close to transportation” been more important when attracting home buyers. These days it’s not just homes that are…
Millennials Are Fueling The Current Sizzling Real Estate Market
Ever wondered why the hosts of home improvement shows seem to be getting progressively younger, along with the fresh-faced couples getting their new properties made…
The Best Cities For Recent Grads To Rent – Without Blowing Their Entire Paycheck
What’s next post graduation? For most, the logical answer is to find a job. After the excitement of finishing your studies and the big celebration,…
Luxury Knows No Limit In Malaysia As A Deluge Of New Developments Hit The Market
The amount of newly constructed high-end real estate in Malaysia is almost as abundant as the lush vegetation which covers the tropical landscape. Despite vacant…
Don’t Call It A Commune – Upscale Co-Living Is Attracting Major Development
What may have once been referred to as a commune is today termed a co-living space. The big news that it’s not hippies with hemp…
It’s Official—New York Is Now The Most Expensive City In The World To Build
As if you didn’t already know, it’s expensive to build in New York City. Not just expensive but now officially the most expensive place in…
An Ultimate Destination For The Most Comprehensive Real Estate Data, Agorafy Prepares To Launch Nationwide
In the coming days, Agorafy will be entering a new chapter. It is the beginning of a new growth cycle in real estate technology with…

TOP 10