Back to all insights Queens February 2025 Market Report-
This report provides an in-depth overview of the Queens real estate market, highlighting recent transactions and sales performance metrics while capturing the trends and opportunities shaping the market.
In February 2025, the Queens real estate market slowed, recording eight transactions totaling $23.23 million, marking a 27% year-over-year decline in transaction volume. Both unit sales (39) and buildable square feet (20,000 BSF) also saw a downturn.
Mixed-use properties led the activity with five transactions amounting to $16.95 million, averaging $468 per square foot, highlighted by deals like 5929, 5937-5939 Myrtle Avenue & 59-35 71st Avenue in Ridgewood ($5.3 million, 12 units) and 37-07 30th Avenue in South Astoria ($2.6 million, 11 units). Multifamily transactions included two deals worth $3.78 million, averaging $553 per square foot, with properties such as 23-77 28th Street and 48-21 39th Street in Ditmars-Steinway and Sunnyside, each at $1.89 million for four units. Development activity was limited to one transaction at 56-01 Queens Boulevard in Woodside ($2.5 million, 20,000 BSF), averaging $125 per BSF.
Despite the decline, Queens’ market remains steady, with mixed-use properties driving transactions, particularly in Ridgewood, Sunnyside, and Ditmars-Steinway. Year-over-year and month-over-month trends indicate a steady transaction pace and dollar volume since February 2021, reinforcing continued investor interest in Queens real estate.
Multifamily, Mixed-Use and Development transactions between $1,000,000 – $50,000,000 from January 1, 2025 – January 31, 2025
Zip Codes: 11101, 11102, 11103, 11104, 11105, 11106, 11369, 11370, 11372, 11377, 11385
Neighborhoods: : Astoria Heights, Ditmars Steinway, East Elmhurst, Hunter’s Point, Jackson Heights, Long Island City, Old
Astoria, Ridgewood, South Astoria, Sunnyside, Sunnyside Gardens, Woodside
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