Apartment prices rise in LIC
Real estate prices and rents in Long Island City and Astoria are on the rise, especially in the luxury housing market, where there isn’t enough supply to meet demand, a new report shows.
The average monthly rent for a one-bedroom was $1,600 in Astoria and $2,400 in Long Island City in the last quarter of 2012, according to real estate brokerage firm Modern Spaces.
And the average one-bedroom sold for $387,786 in Astoria and $501,732 in Long Island City in the same period.
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