The New York Times’ Vera Haller reports on real estate and development in Rego Park, Queens. Rego Park, Queens: Finding Value in a Melting Pot features our client Vornado Realty Trust‘s The Alexander at Rego Center.
Much of Rego Park retains the character of a classic New York immigrant neighborhood. Imported goods from Russia and other countries line shelves at the NetCost Market on Queens Boulevard, and Uzbeki fare like chebureki, meat-filled turnovers, and shish kebab is on the menu at Cheburechnaya on 63rd Drive.
But in recent years, Rego Park has also drawn people from other parts of the metropolitan area looking for housing value.
A search of available rentals in Rego Park on StreetEasy.com showed 100 properties, including a one-bedroom unit in a 1936 building for $1,675 a month and a two-bedroom in a similar building for $2,150. At the Alexander at Rego Center, studios start from $1,995, one-bedrooms from $2,295 and two-bedroom units from $2,935, factoring in one month’s free rent on a 12-month lease.