Jackson Heights is currently going through something of a renaissance. And all of the signs point towards continued growth for the foreseeable future. With Manhattan continuing on its upward trajectory towards a more global market, and property prices continuing to rise in Brooklyn and other commuter neighborhoods, many buyers are shopping clever by exploring alternatives within a comfortable commute to Midtown. That puts Jackson Heights at the epicenter of many people’s searches.
Long-term residents don't need any reminders as to why the neighborhood is so attractive. For many years now, people from all over the world have been drawn to Jackson Heights by the friendly village atmosphere and close-knit community network. Everyone accepts everyone else, and there are many opportunities in this historic neighborhood.
Jackson Heights has all of the things a neighborhood could want; a fire department, police precinct, public library, hospital, great schools and of course, the famously diverse local food scene. Historic 37th Avenue which runs through the heart of the neighborhood, has a long-standing reputation as one of the most charming and authentic food and shopping streets in the entire city.
For commuters and travelers, it doesn't get much better than Jackson Heights. Midtown Manhattan is a twenty minute train ride away, La Guardia Airport is a five minute cab or bus ride and the Long Island railroad stops at neighboring Woodside. Yet, despite being so diverse and so centrally located in one of the worlds busiest cities, Jackson Heights retains a quiet ambience that sets it apart.
Jenny Cruise McLean has been in business in Jackson Heights for almost 30 years, and has seen the neighborhood undergo many changes. She is now seeing unprecedented interest in Jackson Heights property
But the secret, it would appear, is starting to come out. Jennifer McLean of Cruise McLean Realty on 81st street and 37th Avenue explains. “Traditionally, neighborhood demographics show a healthy mix of new arrivals to the city, coupled with long-term residents. This gives Jackson Heights our wonderful fusion of local friendliness and cultural diversity. In recent times however, we are seeing more inquiries from people in other New York neighborhoods and boroughs. The market in Brooklyn is certainly pushing people northwards into Queens, and so naturally, Jackson Heights has suddenly become very desirable for a lot of people.”
Upward market trends are of course great news for Jackson Heights property and business owners. But spiraling prices are also something of a double-edged sword; attractive for sellers, yet counter-productive if the prices rise to a point where buyers give up and look elsewhere. “Right now, the balance is just right. The neighborhood has seen a rise in property values which is in line with the city as a whole. So while the number of people shopping here has increased, it hasn't yet reached the point where buyers are being priced out of the market”, Ms McLean added.
“News of the L train closure in Brooklyn, coupled with the city-style development in Long Island City, has led to a greater number of customers searching for property along the central Queens subways lines to Flushing and Forrest Hills. Jackson Heights is now top of their wish list. Thankfully, there is enough affordability in the market to keep the balance healthy. I would however advice local residential and business owners to keep their finger on the pulse. Our stock in Jackson Heights has risen, and looks set to continue rising. Our neighborhood is becoming very desirable.”