New York—Demand is relatively strong, supply relatively weak. That’s the state of the condo market in New York now, and that goes for places like Brooklyn and Queens as well as Manhattan.
Sky View Parc, a massive condo property in Flushing Queens, is one of the borough’s new developments that’s been able to take advantage of the new-found demand for condos properties. The property, developed by Onex Real Estate Partners, has now sold half of its 448 condo units, which are located in three buildings.
The property offers units ranging from 575-square-foot studios to 1,855-square-foot three-bedrooms. Unit amenities include over-sized windows, nine-foot ceilings, hardwood floors, stainless steel appliances and marble baths. The residences are priced at $375,000 to $835,000, and buyers also benefit from a 15-year, 421-A-tax abatement.
According to the developers, outer borough locations (such as Flushing) are increasing attractive to prospective condo buyers. The neighborhood is an important node on New York’s transportation network, which accessible near the property at the NYC MTA 7 Line Main Street station. Sky View Parc is also close to Flushing Meadows-Corona Park, the United States Tennis Association (USTA) Billie Jean King National Tennis Center (home to the U.S. Open) and the brand-new Citi Field Stadium for the New York Mets.
The building also happens to be located above Sky View Center, an 800,000-square-foot multi-level shopping center. The regional mall offers a mix of national retail stores carrying apparel, shoes, electronics, entertainment, groceries and cosmetics. It also includes over 30,000 square feet of restaurants.