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Rego Park Has Biggest Rent Increase in Queens During Past Year, Report Says

By Ben Fractenberg | March 10, 2016 4:47pm
 Saxon Hall Apartments, at 62-60 99th St., offers 417 units, and recently sold for a record-setting $135 million.
Saxon Hall Apartments, at 62-60 99th St., offers 417 units, and recently sold for a record-setting $135 million.
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DNAinfo/Ewa Kern-Jedrychowska

QUEENS — Rego Park has seen the biggest overall rent increase in the borough since February 2015 with average prices up 7.9 percent, according to a report by real estate group MNS

One-bedroom apartments were going for $2,075 in February, compared with $1,865 during the same month in 2015.

Studios were up to $1,624 in February, compared to $1,527 in 2015. 

Individual units weren't the only thing on the rise in the neighborhood. A 16-story Rego Park rental building at 62-60 99th St. was recently sold for $135 million, a record for the neighborhood.

Forest Hills saw the greatest drop in average rent for one-bedrooms in February, but also the largest increase for studios, according to the report.

One-bedroom apartments prices were down 2.57 percent to $2,045 in February compared with January and studios were up 1.18 percent to $1,552 during the same period.