Category Archives: Business

WHAT’S UP WITH THE WATER’S EDGE DEVELOPMENT SITE?

Que pasa?

Que pasa?

In February of 2016 the City decided to develop the land in and around the former Water’s Edge Restaurant on 44th Drive by the East River.  Given the prospective zoning variance the city was offering, a pair of 60-story towers were possible on this choice piece of property1, so the proposed project is massive.  RFP’s from developers were due that May and were required to include a new school, some affordable housing, and a few other stipulations most notably a set aside for light manufacturing.

After submission the proposals would be reviewed by the NYCEDC (Economic Development Corp) and I was under the belief that shortly after the New Year they would pick 2-3 of those they deem viable for a bake-off, during which time there would be some community review and recommendations and then a winner would be chosen.  Now I’m hearing grumblings that the city is going to bypass the middle step and just render a final decision.

Which is really a shame because in addition Continue reading

  1. actually two properties across the street from each other []
Tagged

ALTICE USA, fka CABLEVISION, MOVING HEADQUARTERS TO LIC

Altice USA, formerly known as Cablevision, is moving it’s headquarters to Long Island City from Bethpage in Long Island.  In addition, it’s Manhattan offices, where a lot of the big hitting advertising and sales executives are located, will also be folded into the new headquarters location.  As such, this $17.7 billion corporation1 will be the largest headquartered in LIC.

The implications of this are even bigger for Long Island City because Continue reading

  1. It’s Enterprise Value (EV) when purchased last year []
Tagged

THE DOWNSIDE OF GENTRIFICATION IN LONG ISLAND CITY

Making Deep Purple Proud

Making Deep Purple Proud

THE New York Times is out today with a story on the emptying out of the Blanchard and Paragon buildings on Borden Avenue, in order to make way for higher-paying office tenants.  Whole businesses are vacating the premises, typified by the protagonist of the story, a furniture upholsterer who is leaving for Long Island.  LICtalk has previously profiled two businesses in the Blanchard.  The first BklynBooks (aka iPodMeister) was mentioned in the Times story, and is moving to Paterson, NJ.  The second, Manhattan Fruitier, has moved a little further east to the LIC/Sunnyside border.  Prophetically, the owner of the latter sent me this quote when I asked him about the sale of the building a year ago: Continue reading

Tagged

NEW CONDOS STILL SELLING LIKE HOTCAKES IN LIC

5Pointz about to cast its 40+ story shadow on Iglesia de Cristo and Murray Park, and the benefits are?

5Pointz about to cast its dual 40+ story shadows on Iglesia de Cristo and Murray Park, and the benefits are?

ACCORDING to an article this weekend in Crain’s, The Harrison, a 27-story/120-unit condominium in Court Square, is 60% sold despite the fact that it won’t be completed until June, and thus doesn’t even have a model apartment to exhibit.  In addition, the article mentions that all 33 condos in The Marx are sold.

The latter building is located on the Astoria/LIC border across the street from the Kaufman Studios.  Heretofore I’d refer to this as a no-man’s land, yet Continue reading

Tagged , ,

MORE CHANGES COMING TO VERNON BLVD & MORE TACOS

After being vacant for six years, a not-so-new tenant comes along

After being vacant for six years, a not-so-new tenant comes along

HUNTERS Point Dental will be moving to new and bigger offices at the base of One Vernon Jackson.  This prime new location, on Vernon Boulevard just south of Cafe Henri, has been vacant since the building’s construction in 2010.  Moreover, HP Dental’s previous home three storefronts north of Dorian’s Diner (49-13 Vernon Boulevard), will now be open to a new tenant for the first time in 32 years! Continue reading

Tagged , ,

VERNON BOULEVARD: THE NEW LOOKS FOR 2017

 

Side-by-side deli's - what's better?

Side-by-side deli’s – what’s better?

San Remo No mo'

San Remo No mo’

8-year itch!

8-year itch!

 

Roadhouse for the LIC Bar?

Roadhouse for the LIC Bar?

Commerce never sleeps, and despite it being the holiday season there is no respite from change along Vernon Boulevard.  Four addresses along the heavily trafficked southern portion have seen new activity during the latter half of December.

First of all, the Butcher Deli installed a new facade, indicating that the Continue reading

Tagged , ,

LONG ISLAND CITY 2016 – HOW DID WE GET HERE?

Creating the Canyon of Heroes

Creating the Canyon of Heroes

“Since the 1920′s, city planners have dreamed of transforming Long Island City into a major urban center just five minutes by subway from midtown Manhattan on the Queens bank of the East River. In September, the City Planning Commission will vote on proposed zoning changes that would make the dream possible.”

BY “September,” we’re talking 1995, which was when the opening paragraph above was written in an article in The New York Times.  These zoning changes combined with additional ones made to Court Square/Queens Plaza in 2001, were the starting point of the march to what Long Island City is today.

Like many things, it took a little longer to play out, but the end results were also much, much bigger than anticipated.

In Hunters Point, the edict above led to Continue reading

Tagged , ,

BUSINESS, ALL BUSINESS IN LONG ISLAND CITY

If you can't be in Nusco, LIC ain't too bad

If you can’t be in Nusco, LIC in Fall ain’t too bad

DO you like the new look of the LICtalk website?  Yeah, we figured it was long overdue for an aesthetic makeover, especially since we can’t do anything about the writing.

The tale of how we created the Gantry icon with LIC TALK embedded some may find interesting.  Basically, I snapped a photo of the gantries, paid $30 via a 3rd party site to a recently graduated computer engineer in Sri Lanka named Chathuranga, messaged what I was looking to do, and after some back ‘n forth to get it perfect, voila!1

Furthermore, since a formal business deal has been matriculated between Chathuranga and myself, I am now one of the 4,000 invitees to his wedding in April.  Best of all, my banker at Goldman says the updated site is now worth 50% more than it’s previous value of $8.73.  50%?  Wow that’s some return on my investment, I should be running a major corporation!

//IT’S all business today, and while we’re on the topic, Continue reading

  1. To be more specific, I searched thru a site called Fiverr.com for someone who could do Photoshop and Adobe Illustrator.  It took me two or three requests w/ other providers before Chathuranga, whose handle is blux_tt on Fiverr, agreed to take on the gig.  We then negotiated a price and delivery time and I sent him the photofile. A day later came the first draft, the next day the second one, then another day of back and forth leading to 6-7 fairly simple revisions []
Tagged

BEER HALL COMING TO BORDEN AVENUE

Admit that the waters around you have grown

Admit that the waters around you have grown

A new beer hall is coming to the Blanchard Building on Borden Avenue according to Patrick Sweeney of Related Companies, which is the new owner of the building.  This information was buried in an article in yesterday’s New York Times about how the fashion industry has been gobbling up commercial space in LIC to the extent that it very well may become the second coming of the garment center, or actually replace it all-together.  We’re happy to mine the crumbs of this esteemed newspaper to wring a great headline1- even if unlike the NYT we can’t get a call back from Related.  We’re also very happy to have yet another tremendous beer offering coming to LIC.

//I’d also be very happy to be acknowledged by said newspaper as being Continue reading

  1. and scoop? []
Tagged , , , ,

LONG ISLAND CITY’S FORTUNE COOKIE KING

 

Where might this Dickensian factory reside?

The destiny of the country is determined here

The weekend is here, let’s dispense with the heavy topics of real estate and affordable housing and script a nice puff piece.  Did you know that Long Island City is home to the largest fortune cookie factory in the United States? Continue reading

%d bloggers like this: