Casandra Properties CEO, James Prendamano, recently had the opportunity to discuss housing prices on Staten Island with Tracey Porpora at the Staten Island Advance. SIBOR (Staten Island Board of Realtors) statistics, released in November, showed the median sale price at $572,500 for a home on Staten Island.
James was quoted saying “Staten Island still remains a very affordable option when compared against the rest of New York City. A massive benefit of purchasing real estate on Staten Island is we were relatively unaffected by the tremendous influx of foreign money into our competitive markets. As a result, we were equally unaffected as regulatory changes caused that money to dry up. Staten Island real estate investments remain some of the most stable opportunities in all of New York City. Even during the housing crisis from 2007 to 2010 Staten Island real estate experienced price drops that were a fraction of those around the country. Our slow and steady pace has resulted in remarkable stability.”