Category Archives: Real Estate

SUNNYSIDE YARDS AND FLYING CARS

Let's put another one next to it?

Let’s put another one next to it?

YESTERDAY the ‘official’ study regarding the plan to deck over Sunnyside Yards and build housing on top was released by the city.  Actually, three separate plans were released, each containing a different mix of residential/office/other space that would yield between 14,000 and 24,000 new apartments.

As expected, the study, commissioned by the Mayor, confirmed that the plan is both feasible and at a cost of $16 – $19 billion …uhh reasonable? The release was accompanied by the usual canned ‘huzzah’s such as this one by deputy-mayor Alicia Glen: “Sunnyside Yard represents one of our greatest opportunities to invest in the affordable housing, good jobs, open space and public transit western Queens needs,”

Here at LICtalk we see through such non-sequitur’s and are completely opposed to pursuing the Sunnyside Yards proposal any further.  Given all the non-decked over growth that will occur in Long Island City over the next 5-6 years, which will roughly double the existing housing stock, why is there any hurry to look to the next phase whilst having zero knowledge of how the current excessively-expansionary one will play out?

The obvious answer to this is Continue reading

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JANUARY ROOSTERS AND FEBRUARY DELIVERS

Who needs democracy when you have Bierocracy?

Who needs democracy when you have Bierocracy?

OH my, even with no snow there’s been a flurry of local news that’s come to pass in the last week.  To start, as always, is more residential real estate development.  There are five short articles on local slightly-off-the-radar projects – which basically means they’re under 30-stories:

6 flrs/94 units in Dutch Kills

A pair of 7-story buildings totaling 80 units in Dutch Kills

9 flrs/30 units in Queensboro Plaza

23 flrs/117 units in Queens Plaza South

15 flrs/99 units in Queensboro Plaza

While the total # of units of these five projects are fewer than say a single Rockrose tower, and while most of these projects are already accounted for in previous tallies of all the residences being added in LIC, these “infill” developments will hasten the lowering of rents in the neighborhood.  This is not solely because of the additional supply, which we’ve noted is not much in aggregate, but because of the diversity of offerings and the competitive market they’ll create – versus say the three-player oligopoly on Center Boulevard.  But who am I, the owner of a lean-to, to question the rationale of those with the ability to borrow 7-9 figure sums of OPM with zero recourse?

//UNLIKE the majority of Americans, or at least an electoral majority of them, I’m not a big fan of Mac & Cheese.  Despite attempts by many a renowned chef to doctor it up and pass it off as haute cuisine in the 21st century, my continental upbringing (aka semester abroad) inculcated me with DNA that has an aversion to pasta not served al dente, and dairy products whose Continue reading

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GREEK RESTAURANT COMING INTO SAN REMO PIZZA LOCATION

Where have all the condos gone?

Where have all the condos gone?

WE have received a tip from a reader that a Greek restaurant is coming into the San Remo Pizza location on Vernon Boulevard.  The source said she popped into the space out of curiosity because the door was opened during construction, and happened into the owner, a “lovely Greek man,” who shared this information.  Continue reading

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SUPERTALL TOWER TO BE SUPERLUXURY CONDOS

Whenever I see the words 'Casalino,' I'm briefly transported to a villa on the Amalfi coast.  When I see the building, I think 'Astoria.'

Whenever I see the words ‘Casalino,’ I’m briefly transported to a villa on the Amalfi coast. When I see the building, Astoria.

Though it’s been downsized from 80+ stories1 to 66 stories, the announcement today that “Court Square City View Tower”2 will be condos, as first reported on 6SqFt.com, is the culmination of Long Island City’s change.

Calling them Superluxury, may or may not be a stretch.  The amenities – Continue reading

  1. at 984 feet, it’s the equivalent of  80+ @ 11ft stories, even inclusive of tall amenity floors []
  2. Wow that’s a mouthful []
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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

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DEAR SANTA VAN BRAMER: JUST ONE REQUEST FOR XMAS

One last chance

One last chance

The subways are a little less packed this week and my head’s a little bit foggier than usual, two signs that Christmas is near.  While there are so many things we’d like to see in the neighborhood, most of them are out of our control and simply a function of capitalism weaving its way.  Furthermore, we’re pretty darn lucky given the bounty that we already do have.

Nevertheless, there is one serious void in Long Island City that makes this neighborhood subpar: Continue reading

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CLOCK TOWER BUILDING DEVELOPMENT SOLD, CONFIRMS TREND

Where are we going?

Where are we going?

GEE it’s December and I just realized that I forgot to compile the annual LICtalk Real E-State of The Union for 2016!  Unfortunately given the publishing schedule, centerfolds and whatnot, it’s too late to produce this voluminous analytical tome which is closely followed by all the local RE honchos.  Plus, who wants to read forecasts of something that’s already occurred?

Nevertheless, there was a transaction reported yesterday, which kind of sums up the trend of our previous E-States from 2014 & 2015. Continue reading

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BIG CHANGES COMING ALONG THE WATERFRONT IN 2017

Oh, I guess it already has been bisected

Oh, I guess it already has been bisected

By waterfront, we’re talking Manhattan’s, and maybe an equally apropos word is skyline.  Yet three big changes are in motion directly across the river for anyone living on Center Boulevard or visiting Gantry/HPS parks.

First of all, Manhattan will get its mirror image to our parks, with the East Midtown Waterfront Project.  This will be a ribbon-like park that will run from 38th Street to 60th Street.  The southern portion will be on terra firma, some of which will be ceded by the UN, and the northern portion will be perched on existing construction pontoons flanking the east side of the FDR.  It won’t be as wide as our parks and will thus forgo the playing fields etc., but it will contain a walking promenade and biking lanes.  Completion time unknown.

The second change will be a Richard Meier designed residential tower on a Continue reading

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DECEMBER FLOWERS IN LIC

Look what sprouted

Look what sprouted

APRIL showers bring May flowers.  Oh wait, it’s December!  Enjoy it while you can.  As I stated earlier in the week, this time of the year the news takes a snooze.  Yet due to the mild weather construction keeps charging ahead.  Buildings quickly add more floors, and ground continues to be broken.

A nice new facade appeared on Continue reading

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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

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