Category Archives: Real Estate

BEING PLAYED LIKE A FIDDLE WITH LIC IN THE MIDDLE

“Here’s to alcohol: the cause of, and solution to, all of life’s problems.”

“Here’s to alcohol: the cause of, and solution to, all of life’s problems.”

“the mayor’s commitment to hitting numerical goals {in affordable housing} has created a potential difficulty for city negotiators in their dealings with developers, who are aware of the targets. For some housing experts, the situation was akin to an apple vendor advertising to customers: Must sell out by the end of the day; make me an offer”

You want to know why a big developer like TF Cornerstone gets a seemingly great deal on city-owned land such as Water’s Edge?  Or why the Anable Basin Rezoning includes an audacious 5,000 units, and 70-story tower?  The quote above from The New York Times this week is your answer in a nutshell.  It’s also the reason that Continue reading

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PROTEST -> MASTER PLAN -> BRIDGE

 

xxx

xxx

I’m just trying to find the bridge
Has anybody seen the bridge?
Please
Have you seen the bridge?
I ain’t seen the bridge!
Where’s that confounded bridge?

THERE’S going to be a protest this Saturday.  In general, the impetus behind it is to make sure the LIC community has a say in the development of three adjacent waterfront plots: Anable Basin, Waters Edge, and Lake Vernon.  Of equal importance is the request to recognize and rezone these three lots as a whole, not in isolation. The belief is that in doing so it will not only optimize the space for the neighborhood but also for the city, inasmuch as it will allow more comprehensive planning and be able to incorporate much larger economies of scale and/or amortization of concessions. The most obvious example, and one near and dear to The Editor’s heart, is a rec center.1

The logic of creating a Master Plan for the three lots is self-evident, yet the powers-that-be have been completely dormant in recognizing the tremendous opportunity right in front of them.  That’s what the protest is for!

Now, while the Rec Center is the most obvious oversight, and almost de rigeur when talking about concessions for variances or granting a rezoning, there’s another need that also lends itself to amortization, and frankly might be more timely than even, ahem …affordable housing.  That would be Continue reading

  1. and that rec center can also be optimally located where the most people could potentially have the closest walk to get there: on 5th Street & 46th Rd. []
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TF CORNERSTONE GREATLY SLASHES HUNTERS POINT SOUTH PLANS

CORRECTION: The Real Deal has just amended their story and forgot to include that the 2nd tower, of 56-stories, had previously been filed in October.  Thus the plan is basically in its original form of 1000+ units, plus school, and maybe a Shake Shack.  Never mind.

TF Cornerstone has taken a big knife to their plans for Parcel C in Hunters Point South according to The Real Deal.  The latest iteration contains only ~400 units in a single 46-story tower versus 1,200 units in a pair of 55 & 44-story towers Continue reading

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VALENTINE THOUGHTS ON REAL ESTATE IN LIC

End Construction, hmm...

End Construction, hmm…

 

How about some local real estate data points for Valentine’s Day?  Yeah, that oughta get everyone excited.  First, The Forge, a rental building in Court Square which opened in August 2017 is 50 percent leased.  It has 272 units and was developed by the Gotham Organization and Brause Realty.  Next, Continue reading

A MOVEMENT HAS BEGUN IN HUNTERS POINT

Thank you Brent, please place Rec Center right here.

Thank you Brent, please place Rec Center right here now

A movement has begun for a Rec Center in Hunters Point.  Spearheaded by Brent O’Leary, President of the Hunters Point Civic Association, and Eric Malinowski, a local father of two, the tandem, with backing from several other neighborhood organizations, has created an online petition calling for a recreation center to be included in any large development granted a rezoning or variance (Aka #1 Anable Basin; #2 Water’s Edge).  The petition cites many Continue reading

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THE DIRTY LITTLE SECRET OF HUNTERS POINT

Despite the delays and cost overruns at the Hunters Point Library, I personally like it. I know that not everyone in the neighborhood shares my sentiment, some thinking it an overpriced folly and others questioning the need for any new libraries in the 21st century.  But grand projects that may come across as impractical or wasteful at onset, can sometimes transcend their original purpose, as well as transform a neighborhood if the conceptualization of it is on target.  Though we won’t really know for another year about the final outcome, I’m optimistic that the decision to build it will be proven correct.

Yet underlying the creation of the Hunters Point Library, is a dirty little secret: Continue reading

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LARGEST HOTEL IN OUTER BOROUGHS COMING TO COURT SQUARE

Dreaming of pools, saltwater and non, in Long Island City

Dreaming of pools, saltwater or not, in Long Island City

AND so Christmas is over, let’s get down to business.  Which in Long Island City almost inevitably revolves around real estate.  Though this time of year is normally slow on the local news front, we here at LICtalk are extremely adept at finding seemingly innocuous updates, rehashes, or snippets, and performing alchemy.  In other words, making a mountain out of a molehill. Today’s version, comes to us via a new-spin-on-an-old-story in The Real Deal, which is kind of interesting.

Basically they declare that the largest hotel in the outer-boroughs is coming to LIC.  The 50-story Toyoko Inn is slated to have Continue reading

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DAYCARE OPERATOR COMING INTO BIG HPS CROSSING SPACE

It's all about the kids, right

It’s all about the kids anyway, right?

THE large retail space in Hunters Point South Crossing has been rented by a “local daycare operator” according to a notice sent to residents of the building today. The notice projects completion in Continue reading

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THE TURKEY COMETH, BUT FIRST A LITTLE BBQ FOR LIC

I'm flying, i'm flying

Yes, turkeys can fly

NOT one but two regional articles from BBQ meccas came out this past weekend lauding our local pit-masters.  The first from Kansas City’s daily paper, highlights John Brown’s Smokehouse and how it’s become a home away from home for Chiefs fans on Sundays.  It mentions how local LIC resident Tony Richardson, who spent about a decade of his NFL career in KC, is regularly behind the bar or in front of it on game days, and even convinced Dante Hall to stop by.  The second Continue reading

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PLAXALL’S GRAND(E) PLAN FOR ANABLE BASIN & REC CENTER

Last night I met with several of the Plaxall family members where they shared their just released plans to develop Anable Basin.  These plans entail a major rezoning of the area, whose central theme is “bringing LIC to Anable Basin” by opening up the shoreline surrounding it to the public and making it easily accessible via newly created pedestrian lanes that would slice through their current plots. The initial blueprint would be a mix of residential, retail, and a doubling of their current industrial space, in the hope of making the area one that’s 24/7 instead of the stark division currently in LIC where an area is utilized by business during the day or inhabitants at night, but not both.  Also a new school would be built away from the site on a nearby Plaxall holding on 11th Street.

To help put it all together the family recently hired Jonathan Drescher, previously  the Director of Major Projects for the Durst Organization, who expects the zoning process to take most of 2018 with the hope that the initial phase begins in 2019.  As one would expect with his arrival, the plan also contains the considerable upsizing of the amount of buildable square footage that would be allowed, leading to the possibility of a 70-story waterfront tower and 5,000 new residential units.  It would also incorporate many of the development buzzwords coursing through City Hall these days: Continue reading

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