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Searching Astoria’s New Condo Developments: Could He Afford a One-Bedroom?

by Index Investing News
February 2, 2024
in Property
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Nico Sigloch started late with tennis, when he was 14.

“We were all soccer players, but my uncle took me for fun with my cousin to play tennis and I loved it,” said Mr. Sigloch, 30, who is from a small town near Heilbronn, Germany.

After a promising career on the junior circuit, he coached during college at the German Sport University Cologne and then followed a tennis friend to Drury University, in Springfield, Mo., where he held a 21-1 singles record while earning his M.B.A.

In 2018, Mr. Sigloch landed a job at the John McEnroe Tennis Academy, on Randall’s Island. “I didn’t have a plan to come to New York,” he said. “It was all very spontaneous. Obviously, when you come from a small town in Germany and are coming from a small town in Missouri, New York is attractive.”

He moved into a rental in a two-family house in Astoria, Queens, paying around $900 a month for his share. He bicycled to and from work across the Robert F. Kennedy Bridge (formerly the Triborough Bridge).

His two roommates started as strangers but became friends. Over time, though, they moved on, and he eventually decided to as well. So he spent last summer — the off-season for him, when many clients leave for their vacation homes — searching for a one-bedroom in Astoria.

“I knew my way around,” he said. “Astoria has a lot of things to do — food, parks, bars — and it never gets boring.”

[Did you recently buy a home? We want to hear from you. Email: [email protected]]

Mr. Sigloch was looking in a broad price range, $500,000 to $850,000, “to see what I could get with what kind of money,” he said. On the lower end, that turned out to be a studio.

The new and newish condominiums he considered all struck him as similar inside, but that had a certain benefit. “I am not the type of person who is very handy,” he said. “I am scared that if I bought something old, I would have to do a lot of work in the apartment and would have to hire people to do it.”

Washing his many workout clothes at a laundromat was tedious, so he knew he wanted a washer and dryer. Storage also seemed important, for bulky equipment and luggage.

He found that buildings’ websites often made them look “amazing and modern and high-gloss,” he said, but the photos didn’t always align with reality. “Everyone makes their website look as best as possible. It’s the same if you go on people’s Instagram.”

Through StreetEasy, Mr. Sigloch connected with AnneMarie Tamis-Nasello, a broker at The Agency, and they looked at a few apartments in each building they visited.

“There was not that much inventory in terms of new construction,” Ms. Tamis-Nasello said. “There are pockets of new development in Astoria, but it is not as concentrated as you would find in Long Island City.”

Among his options:

Find out what happened next by answering these two questions:



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