The Kaufman Arts district is still a new neighborhood; it was just designated two years ago. But the area has some history, its home to one of the world’s oldest continuously run movie studios. Now, the neighborhood is seeing some new development with its first luxury condominium building the Marx
"We took the name from the Marx Brothers, which filmed their first movie here at Kaufman Astoria studio," said Eric Benaim, the CEO, of Modern Spaces, the real estate company brokering the sales.
Benaim says the seven story 33-unit development sold out in about five weeks.
He says the price averaged about $1,000 a square foot. According to real estate website Trulia.com, that's twice the average price in the borough.
"I think it says that a lot of people want to be in Astoria, especially in the Kaufman Arts district," said Benaim.
Benaim says all of the units were purchased by people who already call Astoria home
"It just shows that people in Astoria do want to live here and are just looking for a nice new product where they can just stay here and not move elsewhere," he said.
The building includes some high-end features like a roof deck, gym, lounge and screening room. Benaim says his company has noticed people moving further into Queens, as prices in Long Island City continue to rise.
"It's just a natural transition. So, I do see that flowing into Woodside, Sunnyside and other parts of Queens as well," he said.
The Marx is expected to be complete in March, with the first tenants moving in to the building by April.