MORE MONEY CHASING DEVELOPMENT SITES, INDUSTRIAL IN QUEENS AFTER RENT REFORM

New York’s real estate community is still coming to terms with the impact of the historic rent reform legislation passed last week and how it could shape the commercial market. In Queens, some are banking investors will chase industrial and development assets in even greater numbers as a result of the landmark laws. Like most of the city, the investment sales market in Queens has slowed in 2019. A total of $1.1B worth of investment sales were recorded in the first quarter of this year, according to Cushman & Wakefield data, a 2% drop from 2018. The number of properties sales dropped, too, ...