Category Archives: Real Estate

GLUT, TAXES, AND MASSIVE CONDO TOWER GETS GO AHEAD IN LIC

So peaceful, and yet...

So peaceful, and yet…

There’s a bright golden haze on the meadow,
There’s a bright golden haze on the meadow,
The corn is as high as an elephant’s eye,
An’ it looks like its climbin’ clear up to the sky

For the first couple of years of its existence, LICtalk would offer it’s financial predictions on every type of building in Long Island City in an annual post entitled “Real E-State of The Union 20–”  Since the last one in 2015, one could extrapolate the projections and pretty much end up where things are currently.  In light of some recent developments I’m going to cut to the chase and talk about what readers care most about: condos and rentals.  Or maybe it’s condo or rental? Continue reading

CITYLIGHTS TAX SAGA, TWO LESSONS FOR ALL LIC CONDO OWNERS

Meals on Wheels making its daily delivery to Citylights

Meals on Wheels making its daily delivery to Citylights

Just as the tax abatement for the Citylights Building was about to start rolling off, NYC boosted the buildings assessed value by 87%.  For good measure they tacked on another 5% this year.  The near doubling in possible tax payments has the co-op’s residents looking at a 50% increase in already steep monthly maintenance over the next five years, which if implemented on this tower of over 500 units will force out many residents who can no longer afford to live there.

You can read the story below for more details.  Instead I’d prefer to focus on two takeaways that all apartment owners in Continue reading

Tagged , ,

BIG HOTEL BY BIG ALICE & KYRIE IRVING CANOODLES

Get a room Kyrie

Get a room Kyrie

A 385-room 15-story hotel has been proposed at a location two blocks east of the Ravenswood Generating Plant, aka Big Continue reading

Tagged , ,

DUTCH KILLS TOWNHOUSE PUT ON MARKET FOR $5.5 MILLION

Meanwhile at the other end of LIC

Meanwhile at the other end of LIC

A townhouse in Dutch Kills was just put on the market for $5.5 million according to a lengthy article about it in The Wall Street Journal.  A former Queens firehouse purchased in 1981 by the seller, it underwent Continue reading

Tagged

GREEN STREET SHUT DOWN FOR TAXES & MORE RESTAURANT NEWS

La Grenouille? Non

La Grenouille? Non, mais tres a propos

ACCORDING to a large yellow sticker on the front door of The Green Street the property has been seized for non-payment of taxes.  The all-natural Korean Bbq restaurant located on 47th Road between Vernon and 11th Street has only been open for about a year and a half.

In other restaurant news Continue reading

Tagged

BIG DIG PLOWS FORWARD AND ‘WE ARE FAMILY’ IN LIC

Gone fishin'

Gone fishin’

Living life is fun and we’ve just begun
To get our share of the world’s delights
(High!) high hopes we have for the future
And our goal’s in sight

THE next step in the quest to deck over and develop Sunnyside Yards has been announced.  An architecture firm has been hired by the city to form a master plan for the massive development.  In addition the city created a local steering committee which according to Curbed “will spend the next 18 months organizing public meetings and workshops to elicit feedback from Queens residents on how best to proceed with the megaproject’s development, and address the needs of local residents.”

My thoughts on this project are well-known: Continue reading

Tagged

HAPPY FRIDAY …OH, AND THE 7-TRAIN IS DOWN THIS WEEKEND

Blossoming in LIC, but no cherries

Blossoming in LIC, but no cherries

WHAT’S up with all the last minute weekend 7-train closures this year? According to The Wall Street Journal it’s due to Continue reading

Tagged ,

HUNTERS POINT SOUTH PARK PHASE 2 TO OPEN LATE JUNE

On the firing line at Astoria Seafood

On the firing line at Astoria Seafood

TWO of my writers were poached by The New Yorker this month so I’ve had to rely on my own faculties to dig up scoops.  Fortunately in a quick perusal of the Hunters Point Parks Conservancy’s newsletter I caught a recap of their community meeting last night which revealed that Phase 2 of Hunters Point Park South will open in late June according to a presenter at the meeting from the EDC.  This is the southern portion of the park, past the volleyball court/LIC Landing, which is supposed to be more “contemplative” and which will NOT include a playground for older kids.  As a consolation the HPPC newsletter also reported that The Wizard of Oz will be the first movie they present at the Oval this year on May 18.

//MORE real estate news for you RE junkies, and in my mind this one’s a big one. Continue reading

Tagged , ,

SPRING EVENTS IN LIC TRUMP NEWS

xxx

Here’s my science project teach’

There’s a starman waiting in the sky
He’d like to come and meet us
But he thinks he’d blow our minds

After comprehensively collecting all the data, painstakingly putting it to paper while trying to figure out the complex instructions in order to conform to regulations, and finally staying up late into the night to meet the deadline, the yearly crush is now over! Continue reading

Tagged

CAKE FOR BREAKFAST IN LONG ISLAND CITY

Hobnobbing at the Ravel

Hobnobbing at the Ravel Hotel

THIS time last year as I was exiting the LIC Partnership’s Annual Real Estate Breakfast, I went to grab one final danish for the road when a gravelly voice from behind the buffet advised “Leave the danish, take the cake.”  That cake happened to be a slice of the signature mille-crepe gateau from Lady M Confections, which you can purchase whole for eighty bucks at one of their ultra-high end boutiques in Manhattan or in numerous upscale locales worldwide (there’s a real affinity for it in Asia!?!).  Yet it was manufactured on a quiet side street in Long Island City.

I share that anecdote because through no fault of the LIC Partnership, both real estate and confabs about it in Long Island City have increasingly focused on the commercial side as opposed to residential, a trend I noted two years ago.

In fact, the LICP acknowledged this change in opening comments this morning, and it’s why the local panel of speakers Continue reading

Tagged ,
%d bloggers like this: