Make Way for the Luxury Market: The Changing Face of Rego Park

Oct. 14, 2015 — Condos are a bit like rabbits, aren't they? You start with a couple and before you know it, they start popping up everywhere. That's been the case in Rego Park — once a distinctly middle-class Queens neighborhood with its apartment buildings, multi-family and railroad houses, and commerce. Starting in 2000, but especially since 2010, prices in Rego Park have been climbing with the influx of young professionals. And gentrification in this once affordable neighborhood has been building significant momentum. Take this new 7-story condominium rising only one block away from the 63rd Drive-Rego Park subway station. It's only the latest project to pop up in the neighborhood, says DNAinfo, adding that "the 23,398-square-foot building, at 97-30 64th Avenue, will include 23 condo units." On that same block, just a month ago, another condo — Great Stone Tower — was completed. "Prices in that building, according to real estate listings, can surpass $700,000 for a two-bedroom apartment," reports DNAinfo. Over in the following block, "another developer, Kenny Liu, is also planning to build a new 7-story 50-unit condominium building at 97-45 63rd Drive." And of course, there's the upscale condo, featuring Manhattan-style amenities such that include a gym, rooftop garden, and bicycle room, being built at 65-38 Austin Street.