Category Archives: Real Estate

SHAKE SHACK COMING TO HUNTERS POINT SOUTH?

Future home of Shake Shack ...oh and 2,000 new residents

Future home of Shake Shack …oh and 2,000 new residents

Well maybe, but that’s not the real story.  Instead, the LIC Post is reporting that a complete redesign of Hunters Point South’s Parcel C was unveiled last night at a Community Board 2 Land Use meeting.  Most significantly, the towers will now rise to 55 and 44 stories from a previous 41 and 35 stories in the original plan shared in 2013.  The other significant design change from that plan, is that the structure will no longer run uninterrupted along Center Boulevard, which effectively made it one mammoth building with two peaks.  Instead it will be broken up with a Center Boulevard (and Oval and Manhattan) facing open area filled with greenery, art installations, and a food pavilion.  It’s in that pavilion that one of the presenters last night threw out the name Shake Shack Continue reading

Tagged , ,

MUSINGS ON GENTRIFICATION IN LIC AND DEVELOPING WATER’S EDGE

So much promise, but needs to be reasonable

So much promise, but needs to be reasonable

 

In the perfect world of The Editor there would be fewer humans taxing the earth’s resources and fewer still straining those of Queens and NYC.  Regrettably someone else from this borough was recently elected monarch so I won’t be able to impose my will until 2020 and thus will be required to accept compromises, just like everyone else.  That will entail watching large swaths of Long Island City towered up to the sky, much of which has already transpired.

Despite my anti-growth leanings, Continue reading

Tagged ,

CORNELL TECHNION OPENS – HEY DON’T FORGET THE BRIDGE!

It's time for LIC to no longer be solely framed by its proximity to Midtown

It’s time for LIC to no longer be framed solely by its proximity to midtown

So, Cornell Technion opened up this week.  While the opening entailed press releases, ribbon-cutting, politicians and media attention, it should come as no surprise as it was completed right on schedule.  Of course that fact may actually be the biggest surprise of all!

Amidst the news hoopla, and there was a lot of it from all angles (see links below), was the standard local one as to how this would affect the local community adjacent to the campus: Long Island City.  All interviewees laud the potential of the proximity to the new campus, and the hyperbole is justified.  Unfortunately what they don’t realize is the huge gulf between “as the crow flies” and reality.  While a new ferry is nice, it is far from a game-changer.  The fact is that the Continue reading

Tagged , ,

TF CORNERSTONE NAMED DEVELOPER FOR WATER’S EDGE SITE

Bending over backward on Roosevelt Island, but not LIC

Bending over backward on the Roosevelt Island waterfront, but not in LIC

There will be no pedestrian bridge to Roosevelt Island, nor will there be a community center.  TF Cornerstone was selected by NYC officials to develop the Water’s Edge site and their plan largely adheres to the bells and whistles in the RFP put out almost a year and a half ago by the city.  In fact the only one who seems to be surprised that it will have a token industrial component is The New York Times reporter who broke the story.  He obviously must not have bothered reading his colleague’s lengthy story from over a year ago which touted this novelty plan in the development site.

In fact the biggest thing that will differentiate the pair of towers on this plot from their brethren further south along the waterfront in LIC Continue reading

Tagged , ,

ODE TO WATER’S EDGE AND WHAT LIES AHEAD?

Oompa-Loompa's invade LIC

Oompa-Loompa’s invade LIC

SO, The New York Times released a hatchet job on Mayor de Blasio and his supposed tinkering on behalf of the Water’s Edge restaurant.  While I’m not overly interested in the he said/she said of it all, I did enjoy the follow-up article that delved into greater detail about the restaurant’s history, dating back to 1980. Equally intriguing from a historical culinary standpoint was the link to the NYT restaurant review by Bryan Miller in 1992, which like all the paper’s restaurant reviews back then were categorized under ‘Arts.’

As most readers already know, what does interest me in regards to the Water’s Edge, is the future of it.  Today’s NYT ode to the Water’s Edge reiterates in equally vague terms as I did last month that the “agency [EDC] will soon select the developer.”  Hopefully there will be no meddling from above and the one they select will be based on the objective criteria that best suits Long Island City.

//RESTAURANT news is aplenty, or maybe not as seen in the stories below.  Pulling one nugget, Continue reading

Tagged ,

‘JACKSON PARK’S 1800 RENTALS AVAILABLE THIS FALL – YOWZA!

Piatto - Wood Fired Pizza, in case of a blackout go here

Piatto – Wood Fired Pizza, looks like it’s coming soon to the waterfront

WELCOME to Stream-of-Consciousness Friday. The Wall Street Journal revealed that Tishman Speyer’s 3-tower project at the top of Jackson Avenue will be called ‘Jackson Park’ and begin leasing this fall, with initial occupancy before year-end.  Will the amenities galore including an outdoor pool and 1.6 acre private park be enough to fill the 1,800 units on glut-laden J.Ave? ->40 years ago this week was a big NYC blackout that I’m guessing fewer than 1/4 of our readers were around for, but those that were are probably familiar with the music of Talking Heads, whose members spent the down time Continue reading

Tagged

AND NOW, BACK TO OUR REGULARLY SCHEDULED REALITY IN LIC

New ferries will not be enough

New ferries will not be enough

WHILE the joy of the fireworks and the visions of J.Lo dancing in our heads linger, the underlying stories of the last two weeks focused on the more worrisome topic of Continue reading

Tagged

WHY IS BROOKLYN RUNNING QUEENS?

Making it happen in LIC

Making it happen in Long Island City

YESTERDAY at the LIC Summit one of the speakers marveled at how everyone on the panel lived in Brooklyn and was talking about LIC.  In fact given that this panel and several others included NYC policy makers the reality is that they were not only commenting about Queens but also deciding its fate when it comes to big decisions.  Which I guess is how these things shake out when hiring decisions are made, but shouldn’t there then be extra special attention paid to the community voice and an awareness that these areas are not blank slates?

The obvious answer is ‘yes’ but the bureaucratic one is ‘huh?’  Our last post talked about the ‘Water’s Edge’ development, and that proposal should be an interesting litmus test.  I learned yesterday that a) an answer should be forthcoming soon and b) there never was the intention of having a bake-off.  We’ll see.

More disconcerting was the advocacy of ‘densification’ by all the Brooklyn Intelligentsia as the solution to the city’s problems, and how Queens was Ground Zero to test their urban planning theories.  I believe it helps a few people and diminishes the quality of life for all – the only question is ‘To what extent?’  Either way, we will experience de facto densification in the addition of roughly 10,000 new units to LIC by 2020 and thousands of other units along the 7-train line outside of LIC.  Why not wait to see how that plays out?

Another sign of cluelessness occurred Continue reading

Tagged ,

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
%d bloggers like this: