Year-to-Year Rental Prices Drop in Long Island City After ‘Deluge’ of Units Hit Market: Report

January 18, 2018
Published in LIC Post
Good news for renters looking to move to Long Island City: according to a recent report from Modern Spaces, the neighborhood’s residential construction boom means that rent prices are dropping, so getting into your dream LIC condo is now more affordable than ever. Prices in the Court Square area fell an average of 23% from 2016 to 2017, and some buildings are offering unheard-of concessions, like three months of free rent on a 24-month lease. The report was provided by professional real estate group Modern Spaces, which keeps track of New York City real estate prices so that it can help clients find the perfect home for their needs and budget. Read Full Article
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