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Report: Sunnyside and Woodside home prices rise markedly, coop prices up more than 20%

Sunnyside/Woodside prices up more than 12% from a year ago (Cambridge Coop)

July 27, By Nathaly Pesantez

The cost to buy a place to live in Sunnyside and Woodside has gone up significantly in the last year, according to a recent real estate report.

The medium price paid for a condo, coop or house jumped well over 12 percent in Sunnyside/Woodside in the second quarter of 2017, compared to the second quarter of 2016, according to a recent Real Estate Board of New York’s (REBNY) Residential Sales Report.

Coop prices went up significantly in the Sunnyside/Woodside area, according to the report.
The median price paid for a coop was $325,000 in the second quarter of 2017, up 24 percent from median price of $262,000 in 2Q17. The average price for paid for a coop during the most recent quarter was up 15 percent, to $322,000, from $280,000 for the same quarter last year.

Sunnyside/Woodside condo prices also jumped–although not to the same degree as coops.
The median price for paid for a condo during the second quarter 2017 was $481,000, up 12 percent from the 2Q16 median. The average price paid for a condo during 2Q2017 was $496,000, up 16 percent from last year.

House prices in Sunnyside/Woodside were also up by double digits in the past year.

The median price paid for a one-to-three family home in 2Q17 was $950,000, up 12 percent from $850,000 in 2Q16. The average price rose 14 percent, to $915,000, up from $801,000.

The recent increase in Sunnyside/Woodside real estate prices is just a continuation of decade-long trend, according to Linda Santini-Tripodis, the owner of Merit Group and Associates, in Sunnyside.

Santini-Tripodis, a fourth-generation Sunnysider, said that this neighborhood’s profile has been raised by the media in recent years, bringing greater demand and higher prices.

“Sunnyside has always been a secret,” said Santini-Tripodis. However, it’s been discovered and people realize that it’s close to Manhattan and their money goes much further than elsewhere, she added.
Although prices are up throughout Sunnyside and Woodside, there are sections of the neighborhood that are more in demand, according to Santini-Tripodis.

“People ask for the north side [of Queens Boulevard] more than the south,” Santini-Tripodis said. “The north happens to be quieter, more lush.”

While prices are booming the rental market is softening, Santini-Tripodis said.

“The rental market is not as busy,” Santini-Tripodis said. “People are buying—they’re trying to buy before interest rates go up. If I get 10 people walking into my store, nine are to buy.”

The booming Sunnyside/Woodside market is consistent with the REBNY’s findings across the borough, with the price of all homes in Queens (one-to-3 family houses, condos, coops) rising 9 percent from the previous year, with the average price being $561,000 in the second quarter of 2017, up from $514,000 for 2Q16.

The number of sales that took place in Queens during the quarter was also up. According to REBNY, there were the 3,984 homes sold (one-to-3 family houses, condos, coops) throughout Queens, a 17 percent rise from 3,395 in 2Q16.

To see the full report, click here

62 Comments

Curlicue58

I truly don’t understand any of u and I don’t know that I want to. You are either miserable that you bought or miserable that u didn’t. You all complain how much u dislike everything going on in the neighborhood. You don’t like the prices,the new restaurants, the people that r living here a long time and the people moving in. The price of your home u purchased went up but not enough to make u happy. You hear of a crime no one is happy to hear about that but we don’t live with n a bubble shit happens.,This is not Mayberry RFD. It’s cheaper on the south side then u should have moved there.
Really if u r that miserable please move! There r so many of us that love living here. It’s a great community, with friendly people, multicultural,great neighbors, great food. Please do the rest of us who love it so much a favor,MOVE!! Nothing will make u happy by staying and it seems to be the same handful of les miserable! Just go! I’m so sick of listening to your same BS. Think how much happier you’ll be and how much happier we’ll be.




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John

I agree with what you wrote. Next time, to really prove your point, write out ” you are” instead of the middle school abbreviation “u r”. It sounds more adult .




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Matt

I’ve been super excited about many of the changes that have come in the last 6 years since I purchased. The neighborhood becomes more awesome every year.




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Sonny

So so neighborhood , just absolutely overpriced. South side is horrible and the price just keeps going up. The increase is amazing though, imagine how many people own houses worth 900k and they still get assistance and food stamps. You would figure the increase would have got the on their feet. Some people lo e to get over




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Anonymous

How does an increase in property value get people on their feet financially? Real estate is not liquid.




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Jake

All the priced out Astoria people are moving to Sunnyside and Jackson Heights. Everything will go up. Just move to a nice midsize city like Charlotte, Atlanta, Raleigh, etc.. you will be better off.




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John

I wouldn’t live there even if the house were still $ 270000. I would buy and flip it. Seedy little neighborhood with trailer trash. Sell and make your money. A lot of people bought low because they couldn’t afford nicer neighborhoods and just got the break of a lifetime. Congratulations.




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Trailer Trash Gal

Just a thought- If this neighborhood is so ‘seedy and filled with trailer trash’, why are you even reading Sunnyside Post? Why don’t you go focus on whatever classy, rich neighborhood you come from?




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John

There’s no good news on my nice neigborhood’s blog. We just got stories about how there’s no good limo parking and a guy who has a trumpet for sale.




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betty

Well people are forced to in NYC to pay a lot more to live among a certain demographic population.




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Theorem Ox

If you’re of a sound mind and not blind, open your eyes and pay attention to what you see! NYC is very segregated all around – possible exception could be public transportation (though with many bus routes and certain sections of the subway lines, one could argue otherwise). As much as what betty wrote disgusts me in principle, I can’t deny that it does happen in practice.




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Lk

Sunnyside gardens is like the Irish housing projects. Little dirty and cramped with no parking. Why pay 1mil to live there especially with crime on the rise. It’s an overpriced ghetto. As far as co-op, get lost, 300,000 for crap




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Anonymous

The fact that you cite lack of parking as a reason it’s “ghetto” says all I need to know about you.




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IanMCC

Hmm… How can it be pricey and a ghetto at the same time? Anyway, apparently the free market disagrees.

As for crime being on the rise, um, it’s not. 2017 is the lowest year on record for NYC so far, and Sunnyside is even lower than most neighborhoods.




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Bart Stone

Well great news for owners, but bad news for tenants. We bought in Sunnyside in 2014 because its got great transit to midtown, is safe, and is was much cheaper than Brooklyn and Manhattan. If you’re just a regular married office worker bee looking to buy, why wouldn’t you pick a nice place like Sunnyside? Brooklyn may have all that hip “art” scene stuff going on, but that didn’t interest me and I certainly ain’t paying extra for it.




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Theorem Ox

It’s bad news for owners and worse news for renters not benefiting from rent control / rent stabilization (at the lower end of the range). Unchecked rising prices are great if you can actually cash out and make a profit! Otherwise, owners are hit with escalating property taxes/fees based on the higher valuations. And once the prices get too high beyond what can actually be locally sustained (as it stands now in NYC along with many cities in the Northeast), most owners who do not have the benefit of prime location are basically trapped in place if they would ever like to move. Good luck finding a decent pool of bona fide buyers to sell at a desired price while facing rising costs of living and basic maintenance. There’s a balance to everything – we’re well past due for correction but I hope not past the point of no return…




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Uber will kill you

Good for the people who made money. Cash it in and enjoy life. Because when the next crash comes, and it will, Its not going to bounce back so fast. It will be like medallion cabs, they were worth over 800k, now about 230k.




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El loco

I bought my co-op for $65k in 1989 and now worth $300k. Not much of an increase.




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Bulimic Panda

Uncle Lawrence caught me pulling my pecker when I was 11. He sold his house in Sunnyside for 113% profit in 1998 before he had to flee to Belize to escape a slew of felony charges and a couple of warrants. Last I heard he opened a small all male Catholic retreat.

I pray for housing prices in Sunnyside and Uncle Lawrence too. I love all of you so much. G-d bless us. Amen.




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Anonymous

any minute now pat dorfman will drop another novel long rant about how we should boycott trendy restaurants and not allow young people to rent here.




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Anonymous

You don’t have much focus, do you? You have completely misread her position.




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sunnyside real estate is better than a 401k

20%!!!?? that means me and my family made about 120k for basically doing nothing last year.

btw, while this is good for homeowners anyone who is on a board of one of these coops knows that property taxes are also going crazy due to these property values.




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rikki

Every open house southside i went to, most of the buyers and agents were Asian.

And they were telling the prospective buyers its LEGAL TO RENT THE BASEMENT no kidding none of these would pass as a 3 family none of these basement apartment would be 50% above ground, have full size windows to escape from or have 2 exits.

I see a lot of renters being scammed unless the city cracks down and enforces the current housing laws.




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rikki

welli i dare you to go to the open houses and see for yourself. you NEED that illegal apartment rent to cover the huge mortgage.. which was NOT necessary back when prices were reasonable.

Super High home prices is the major cause of illegal conversions but new foreign buyers are clueless to the the law….so lets get them




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Anonymous

Are you just constantly going to open houses? I guess you have all sorts of extra time with your reverse commute.




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Curlicue58

There r no foreign buyers in Sunnyside! They may not be American but the “foreign ” buyers will all the money r buying in Manhattan not Queens. Really if u r going to make a statement at least know what u r talking about. No one who buys in Queens is looking to bury $500,000. Those people r buying in Manhattan and burying millions!




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anon

The cause of illegal apartments is not the price of the home, it is the character of the property owner. They would scam if they got the house for free.




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rikki

Well before that was TRUE, but today there is noway to afford a $750k 2 family house without that 3rd income And whats worse is agents are telling prospective buyers its ok to do this.




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Old Time Sunnysider

OBVIOUSLY you are from the “lush” north side—there are PLENTY of illegal basement apartments in “The Gardens”




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rikki

Because it was always more expensive now they are starting here and its the insane prices that’s the root cause…..

You need 2 rental incomes to survive in a 2 family house so as the owner do you want to live in the basement LEGALLY?




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Southsider

“Quieter, more lush” is code for “whiter”…. but if you’re looking for a deal, the south side has bigger houses and off-street parking




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Queens lover

It’s literally lusher. There are tons of trees over there, way more than the south side, which still has trees, but it’s mostly apartment buildings so there just aren’t as many houses on that side. I have multiple friends who lived on the “south side” and liked it perfectly fine-Sunnyside is small, and both sides are lovely.




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Sir Walter Raleigh

I own a House in the Gardens bought it back in 2000 for 272K what an investment! now if we could just get rid of a few of the RIFF RAFF that still live here from back in the day everything would be fine.




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A.Bundy

I got my house in the gardens in 1999 for 271k. Cookies were batter in the old days.




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Oil Beef Hooked

I own 2 houses in the gardens bought back in 1998 for 270k. Just need to get the old fashioned guys like Dany out of here. Lots of parking.




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Curlicue58

Try learning how to spell! The old days are long gone ! Try living in the present!




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A.Bundy

its called making profit. buying a few apts a decade ago and flipping them now for at least $500k so i can get out of the ghetto…but not for you, lolz. you’ll be here for life. thanks for renting! we need more people like you! rent is due on the first!




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Theorem Ox

Making a profit? Yeah, possibly if you are a short-term flipper or a large scale rent collector. For most other homeowners who bought a prized property and lived there for some time – mortgage servicing, property taxes/fees and rampant inflation ate up most (if not all) of the profit. Sure, your selling price may be higher than your purchase price on paper. But in practice, I doubt your sale price today will actually get you more than your original purchase price then if you’re trading properties.




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Get out of the way

Yeah sure try and buy a house around here for mid 500’s. What a load of lies. Houses are 700-800k if you can find one. Good riddance. The neighborhood is no more.




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Pete

The article says that median house prices in Sunnyside/ Woodside are over $900k. The $500k price was for Queens in general.




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Jeeze

Thanks Jimmy “Real Estate Sellout” Van Brammer! Whatever, bring the dislikes… truth hurts!




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Wait... what?

People are rushing to purchase before interest rates go up? When interest rated go up, recessions happen…




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Sammy

Too late ! We bought a house in 2014 because we love Sunnyside and we’ve told all of our many friends to move here. There is really no better neighborhood than Sunnyside. Can’t wait till it begins even more gentrified .




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