A waterfront mansion in Malba, Queens, has set a new sales record for the neighborhood. The property at 117 Malba Drive closed for $6.3 million in August, according to public records. This surpasses its previous sale price of $5.5 million in 2017, which was also the highest recorded in the area until now.
The Mediterranean-style home was first listed last April with an asking price close to $8 million on Zillow. After several reductions, the listing price dropped to just under $7 million before a contract was signed in July. Both buyer and seller identities remain undisclosed as they were represented by LLCs.
Spanning 8,300 square feet, the estate includes five bedrooms, seven bathrooms, a finished basement, backyard, multiple terraces, and comes with a deeded boat dock at the local private marina. Po Wei Tair of Remax 1st Choice and Hui Fang Chen of AAA Young Shuen Realty managed the listing.
This transaction occurs amid rising luxury prices in Whitestone and surrounding areas. In early 2025, Malba ranked as New York City’s 11th most expensive neighborhood with a median sale price of $1.6 million—just behind Manhattan’s Theatre District—according to Property Shark.
Despite sellers’ efforts to increase prices further in recent years, actual deals have not always matched expectations. For example, another waterfront mansion at 3 Point Crescent was listed for $9.2 million in 2017 but did not sell until five years later for $4 million; it is currently under contract after being re-listed at $5.9 million.
While Malba’s market has seen growth, Queens’ most expensive residential sales have occurred elsewhere in the borough. In 2023, a beachfront property next to Jacob Riis Park sold for $8.3 million—the highest ever for Queens—followed by another nearby home that closed for $7.6 million this March.
