Looking to do some home shopping in LIC this weekend? The good news is there are a lot of Open Houses occurring Saturday/Sunday, the bad news is that most of the ones I’m going to mention are super-deluxe …well by local standards anyway, which I’ll define as selling for $2 million or more.
Though this pales in comparison to the “super high-end” of Manhattan1, which usually comes with a lot more square footage, it’s similar in that the inventory for this category has all of a sudden come out of the woodwork.
Some of it was very much intentional via developers who saw the need and possible demand for this niche. Specifically the Factory House and The Jackson. Where units have been selling for $1,400 a square foot despite not being near the waterfront, not having tremendous views, and not having amenities more than the basics.
The timing of the units in these developments coming up for sale seems to have coincided with owners of larger and/or spectacular units being flushed out by high prices or savvy brokers, with a “I’ll put it on the market at a big price, and sell it if I get lifted” mentality. Many are a reach by any standards in terms of valuation. It’s not like potential bidders include Saudi prince’s or Chinese tycoons for whom an extra $5 mil, or in LIC’s case 1/2 a mil, doesn’t mean anything.
Eventually those genuinely looking to sell, come down to a more reasonable level. One example is a townhouse we highlighted in February which at the time was listed for $4.875 mil and has recently been marked down to $4 million.
Whether you’re in the market or a dreamer see the list below to peruse and visit, in no way is it meant to be comprehensive.
//Crime Times Two. First, there’s word on Facebook of an attack at Rainbow Park today. According to a parent on the 4545 Center Blvd Moms group, two nannies who were sisters were allegedly attacked by a couple who allegedly were “seen actually shooting up heroin earlier in the day on a different street. They had a child with them and accused one of the nannies of touching their child, then left and came back to physically attack them. There was physical confrontation where a Nanny and a mother were injured by being punched and kicked. The couple fled. The entire incident was recorded by another mother on her phone.” and continued “They suffered cuts and bruises by (sic) no serious injuries.”
Not to be outdone, a biker filmed a car driving over the Pulaski in the bike lane today. I guess cocktail hour started a little early today.
//MoMA PS1 Warm-Up begins tomorrow from 3-9pm
//More live music locally tomorrow: SculptureCenter has a 3-Saturday outdoor music festival of their own that begins tomorrow @ 5:30pm, details below
$4 Million Solarium Condo – a combination of two units with over 2,000 sq ft of both indoor and outdoor space. But at such a considerable premium to anything else that’s sold in this building, there’s no wonder it’s been on the market for over 6 months.
The Factory in Court Square- one of three sponsor 3-br’s + exterior space PH’s listed at $2 mil plus
The View – what more is there to say about The View and it’s prices. This is one of four currently being listed above $2 million, the least pricey but kinda cool + it has an Open House this weekend
$2.7 Million Combo in Citylights – possibly the most spectacular LIC offering available and also most similar to super high-end Manhattan offerings, but comes with a whopping $5,000+ maintenance that’s going much higher as the building’s tax abatement rolls off in two years in tandem w/ a massive amount of recently added debt to its mortgage
$2.4 Million Townhouse on 11th Street – beautiful and very tasteful. Take a peek this Sunday at their Open House
Will HPS’ Hot Pink Hot Tub Be the Hottest Public Artwork This Summer? – if you get naked and jump in, then yes
Maniacal Motorist Drives Down Pulaski Bike Path – commentary and video
Summer Sounds In the City – WSJ includes PS1 as one of the best city music festivals
Trans-Pecos Founder is Bringing Out-There Outdoor Shows to SculptureCenter – click for bands and details
San Remo Pizza on Vernon Closes – a well-situated corner location across the street from Dunkin Donuts. What’s next?
LaGuardia CC Unveils Goldman Sachs Center – at a cost of $5 million, it’s roughly equivalent to a Managing Director’s annual compensation
Heavy Security Expected in LIC for July 4th Fireworks – once again, HPS Park will be closed for da media!
Past Rezonings Shape LIC’s Feelings About de Blasio’s Plan – a long rehash of the issues
- which these day’s I’m not sure where that category cuts-off $10, $20, or $50 mil [↩]