Banks, Hotels and Housing


On virtually every corner in Flushing, you’ll see at least two banks.  If you walk along Main Street, you will pass by HSBC, Citi Bank, Chase, Bank of America, First American International Bank, TD Bank, and Abacus Federal Saving Banks.  If you walk into Chase Bank, you will most likely see all the ATM machines occupied mainly by Asians depositing their weekly paycheck. (Check gallery below)  Banks are essential to the development of the commerce in the area; many businessmen rely on international banks to make transactions.  Banks are sources of funds for investors and have led to the development of many structures, which include malls and condominiums.  Like many banks, those of Flushing profit from investing in similar projects and from interest.


There are many hotels in Flushing where mostly businessmen (but tourists also) reside during their stay in the city.  Located on 39th Avenue, the Sheraton LaGuardia East Hotel is an Ultra-Modern, Oriental structure adorned with traditional Chinese furniture.  The choice of decoration reflects the demographics of the population of Flushing and the culture and ethnicity of those who stay at the Sheraton.  One can host meetings and dinners at the Sheraton but unlike any other hotel around the area, there are many themes one can choose to hold such events in to accommodate one’s guests.   In addition, the Sheraton is only three miles away from LaGuardia Airport.


With the influx of Asian immigrants, real estate prices have risen sharply due to the increasing demand for housing.  One would not expect to find single-family houses in Flushing; instead, the neighborhood is rife with condominiums and multiple-family homes.  However, north of Northern and near Kissena Park there are beautiful single-family homes but expect to pay more than $1 million if you’re purchasing a house in this area.  South of downtown Flushing, there are apartments with rent ranging from $800/month to $1500/month as of July 2005, which is relatively affordable for Flushing residents, whose median income is $54,632.


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