What you can get for $1 million in Forest Hills, a lively transit hub known for its Tudor-style homes
Have you always wanted to live in Bed-Stuy but assumed the price would cost you? In this new series, Brick takes a look at real estate listings in New York City’s most sought-after neighborhoods priced under $1 million — roughly the average sales price for co-ops and condos in Manhattan — as well as more expensive options under $2.5 million American.
If your goal is to live big, think small: Buying a studio or one-bedroom is a way to make your dreams come true. Are you new to buying real estate in New York City? Make sure you understand the difference between co-ops and condos. Co-ops are generally less expensive but are also older and have fewer bells and whistles than condos, as well as more rules. With that in mind — happy hunting!
In this week’s Next Step, Alexander Pereira, broker at Modern Spaces, and Kayla Lee, broker at SERHANT, give us the inside story on Forest Hills, a transit hub in Queens with historic architecture and a vibrant cultural scene.
What attracts buyers to the neighborhood?
Pointing out that Forest Hills is “a haven for those seeking a quiet yet convenient urban lifestyle,” Pereira says that its “excellent schools, lush green spaces like Forest Park, and public transportation” are big draws for buyers.
Lee says the juxtaposition of traditional architecture and new development is what attracts homebuyers. “It’s a dense area of New York City with lots of transportation, cafes and restaurants, stunning Tudor-style homes and tree-lined streets.”
Lee adds that new buyers are coming from other neighborhoods. “The growing interest in Forest Hills will only be enhanced by Trader Joe’s opening a new location this year.”
What is the housing and pricing like?
Housing options include prewar co-ops, new construction apartments, and single-family homes. The neighborhood, known for its 1920s architecture, includes Forest Hills Gardens, one of the first planned communities in the United States.
“Although prices vary, Forest Hills offers competitive affordability compared to Manhattan, making it attractive to a wide range of budgets,” Pereira says.
Lee agrees, adding that Forest Hills has properties at a range of prices. “There are sections of Forest Hills that are incredibly exclusive and expensive, and there are also new apartment buildings sprouting up close to single-family homes,” she says.
The average selling price across all property types ranges between $360,000 and $480,000 (depending on source).
What kind of property can I get for less than $1 million or around $1 million?
At this price point, you can buy a “spacious” condo, co-op or single-family home, Pereira says, adding that properties often come with “desirable amenities and excellent resale potential.”
You have a wide choice: there are 260 properties for sale in this price range according to StreetEasy.
I can stretch my budget. What can I get for $2.5 million?
With that high a budget, you can “explore stunning, larger single-family homes, perhaps with features like backyard oases, renovated interiors, and high-end finishes,” Pereira says. There is “a world of possibilities, including luxury apartments and even penthouses.”
Are there any new developments in the apartment I should check out?
Newer apartments typically offer more luxurious amenities and finishes, features that attract many buyers.
Noting that “Forest Hills is seeing a boom in new developments,” Pereira says, “this is the right time to invest in this evolving apartment market.”
Opened in 2021, BLVD features 74 luxury units and 10 floors. Amenities include a virtual concierge, rooftop deck, entertainment center, bike room, game room and media room. The least expensive unit, a 1,003-square-foot two-bedroom, is listed at $988,000, up from $1.099 million.
What attractions do you offer to buyers who have never been to the area before?
Pereira always points to Forest Hills Stadium, the former site of the US Open tennis tournament that now hosts outdoor concerts and events, and to the restaurants and shops along Austin Avenue.
It’s also a major stop for Lee because it “hosts a slew of events, like The Infatuation’s EEEEEATSCON food and music festival and 88rising’s Head in the Clouds festival that highlights popular Asian performers.”
Other stops for Lee are the Shops on Austin Street (site of the annual Forest Hills Arts Festival) and the 500-acre Forest Park, the 10th largest green space in New York City and the third largest in Queens, complete with 500 acres. A carousel, horse stables, sports fields, tennis courts and a full golf course. “It’s a captivating attraction for buyers to experience,” she says.
What neighborhoods are nearby and are they less expensive?
Kew Gardens and Rego Park offer “excellent alternatives for budget-conscious buyers,” Pereira says.
Check out these listings worth around $1 million in Forest Hills.
This two-bedroom, one-bathroom co-op was listed for $429,000 circa 1951. The Cromwell has an enclosed porch, refinished oak floors and moldings, and over 1,000 square feet of living space. The six-story, pet-friendly building has 124 units, new intercom and security cameras, a part-time doorman, a large living room, a bike room, a laundry room and a waiting list for indoor parking.
Built in 1934, this two-story brick Tudor-style home has original details such as French doors, plaster walls, hardwood floors, and a fireplace. Other features of the 1,456-square-foot, three-bedroom, one-and-a-half-bath residence include an eat-in kitchen with an extended breakfast nook, an upstairs sunroom, a partially completed basement, and a new washer/dryer. One car garage. It is asking for $1.189 million.
This one-bedroom, one-bath co-op, listed for $320,000, has exposed brick, 10-foot ceilings, and new windows. Housed in the 98-unit, six-story Thomas Edison building, which dates back to 1931, it has a laundry room, bike storage, personal storage units, a gym, common area cameras and new windows. Cats allowed.
Originally listed for $795,000, this 908-square-foot one-bedroom apartment with one and a half baths is on the market for $749,000. It features a renovated kitchen, covered porch, washer/dryer and hardwood floors. The 219-unit, 27-story Pinnacle building is a full-service building dating back to 1991. Amenities include a 24-hour concierge and concierge, children’s playroom, billiards room, game room, conference room, media room, landscaped gardens, and a health club with pool Swimming, sauna, steam room, and fitness classes. Indoor valet parking is also available.
This two-bedroom, one-bathroom, 1,029-square-foot co-op is priced at $429,000, down from $450,000. The corner unit has a dining room and a renovated eat-in kitchen with a dishwasher, updated bath, and hardwood floors. It’s located on the top floor of The Bradlee, a six-story building that dates back to 1939 and includes 73 units, a super room, a concierge, a laundry room, a packing room and a bike room.
Nancy A. Rowling is a freelance writer based in New York City.