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Bayside in fifth place on list of 10 hottest neighborhoods

Bayside was rated No. 5 in StreetEasy’s list of 10 hottest NYC neighborhoods in 2017.
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StreetEasy has released its annual list of “NYC’s Hottest Neighborhoods in 2017” with Bayside coming in at No. 5 out of 10 and beating Astoria, which came in dead last as the only two in Queens to make the list.

The real estate data base uses sale and rental prices mixed with buyer trends to predict where young and trendy residents will likely end up in the coming year.

Median resale price for homes in Queens came out to $339,717 with a projected 4.4 percent resale growth in 2017. The median rent in Queens is expected to rise 2.4 percent to $2,444 for 2017.

In Bayside, $438,000 is the median asking price for homes and $2,250 is the median rent.

To buy in Astoria, the asking price will likely be around $795,000 in 2017, while rent may be around $2,295, the survey said.

These numbers mean people are more likely to buy than rent since mortgages are cheaper to carry than rent, and resale projections mean homeowners can expect a return if they choose to relocate.

“The oversaturation of luxury inventory in Manhattan left the high-end buyers and sellers with a hangover,” StreetEasy economist Krishna Rao said. “The next year will show the market recalibrating after this luxury inventory overload, which could be good news for buyers who can afford to live in Manhattan. We will see even more price cuts in the borough as sellers adjust to the new state of the market.”

Though wages and salaries are on the rise throughout the city, they do little to keep up with the skyrocketing rental prices in Manhattan. The minimum wage will increase for city dwellers from $9 an hour to $10.50 on Jan. 1, according to the state Dept. of Labor. Rates will differ for workers in other parts of the state.

“The minimum wage is increasing and incomes are inching upwards, but it’s an uphill battle when rents are already so high across the city. For those who have saved for a down payment, we expect to see more people – especially millennials – taking advantage of a slowing sales market and buying homes as rents continue to rise,” Rao said. “Especially for those who plan to live in an apartment for more than a few years, the investment could pay off sooner than it has in the past. The majority of neighborhoods had a tipping point of less than five years in November – that’s half the time it takes to become a ‘real New Yorker’ as the expression goes.”

Transportation will also play a role which neighborhoods get the most attention.

Yorkville represented transportation demand best with the Second Avenue subway expected for completion Jan. 1. Seven of the neighborhoods that made the list are in Brooklyn and only two in Queens. Kingsbridge in the Bronx came in at number one.

Reach reporter Mark Hallum by e-mail at mhallum@cnglocal.com or by phone at (718) 260–4564.

Posted 12:00 am, December 30, 2016
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Reader feedback

JJK from Bayside says:
So where's the list???
Dec. 30, 2016, 5:36 am
not so fake news from Queens says:
This article is mega-false and does not indicate at all that Bayside is one of the most racist, color-conscious, biased, and discriminatory communities in NYC. Add to that many of the real estate ads listed here are yyyugely bogus and scam-saturated. BTW---where's that faked-out 'list'...?
Dec. 30, 2016, 6:27 am
Now it is from Queens says:
not so fake news from Queens says:
This article is mega-false and does not indicate at all that Bayside is one of the most racist, color-conscious, biased, and discriminatory communities in NYC. Add to that many of the real estate ads listed here are yyyugely bogus and scam-saturated. BTW---where's that faked-out 'list'...?

Yes it is ever since the Asians started moving in. All they do is sell houses to their OWN people and look down upon other races. So yes, it IS discriminatory. Our schools aren't even very diverse anymore since the government REFUSES to stick asian kids in with black and Hispanic kids in our school system. When I was younger growing up in Bayside, they bused in the kids from Jamaica (mostly black and Indian kids) and we all got along just fine. I didn't see racism in my schools. Everyone got along well with other races. At that time too, there were Also a lot more black families living here as well. Most of those families ended up selling their homes and moving down south.
Dec. 30, 2016, 7:21 am
Fee-fi-fo from Bayside says:
Bayside was a nice place to live not long ago, but now you feel like a foreigner in your own country living here. Signs on businesses are illegible, hardly anyone speaks English... Finding parking used to also be a breeze, but now you'll circle for blocks no matter what time of the day and be lucky to find a spot near your house. The local politicians are useless too. Instead of doing things to make our lives easier, they're busy passing the commie mayor's "green" initiatives and other nonsense, while making it harder and more costly to do business. Like many of my friends from the neighborhood, im ready to pack up and get out of here. Maybe leave NY altogether.
Dec. 30, 2016, 6:20 pm
Juan from Astoria says:
"Fee-fi-fo from Bayside says:
Bayside was a nice place to live not long ago, but now you feel like a foreigner in your own country living here. Signs on businesses are illegible, hardly anyone speaks English... Finding parking used to also be a breeze, but now you'll circle for blocks no matter what time of the day and be lucky to find a spot near your house. The local politicians are useless too. Instead of doing things to make our lives easier, they're busy passing the commie mayor's "green" initiatives and other nonsense, while making it harder and more costly to do business. Like many of my friends from the neighborhood, im ready to pack up and get out of here. Maybe leave NY altogether."

You won't be missed
Dec. 31, 2016, 12:20 am
former resident from Bayside says:
Grew up in Bayside (30 years).

Recently moved to Houston, Texas and bought a beautiful 3,000 sq foot house in a very upscale area. minutes away from great shopping, parks, and amenities, restaurants, etc.

House was only 350k and we love it here.

Bayside in 10-15 years will mirror main street flushing, overcrowded, dirty, can't find parking to save your life

I recommend that my fellow Baysiders look at other places (especially the south).

You won't regret it.

10/10 -- Would make the move again
Dec. 31, 2016, 10:51 am
JJK from Bayside says:
I agree with "Not so Fake News". I have been here 21 years now, and Bayside is beginning to look like Flushing. Korean signs everywhere, long time Baysiders are selling homes and businesses to them when they show with a bag of cash. They don't pay taxes, because they claim everything through their "Church" Its sad and disgusting.
Jan. 3, 2017, 5:39 am

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