Category Archives: Real Estate

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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REVEALING THE NEW FACE OF LONG ISLAND CITY

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A whole new ball game

A whole new ball game

Big changes have come to LIC.  First, the long-vacant red-brick building on 48th Avenue between 5th Street and Vernon Boulevard lost it’s scaffolding and revealed it’s new facade.  In addition to modern windows and a sandblasted exterior, construction has resumed and new floors are being added.  3 1/2 years ago we shared a rumor that this was going to be a hotel with a steakhouse.  One new president later and I’m thinking condos.

Secondly, the two-story industrial building on the northwest corner of Continue reading

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RARE TOWNHOUSE UP FOR SALE ON ICONIC 45TH AVENUE IN LIC

Oooh, scary line!

Oooh, scary line!

IT doesn’t happen often, but there is a new listing for a townhouse in the landmarked section of 45th Avenue between 21st and 23rd Streets.  It’s got 2,800 square feet over 5 stories, and has a backyard.  It’s currently split into a pair of 2-bedroom residences, but come on, I wouldn’t be touting a beauty like this if it couldn’t be easily combined into one grand home.

In addition to great bones and a historic block, this townhouse also has the essential three L’s of real estate investing as it resides in the Murray Park District (MPD) and is half a block from the park and 2-4 blocks from multiple subway lines that are a quick shuttle into Midtown.

The asking price is Continue reading

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FALCHI BUILDING SOLD FOR TRIPLE PRICE PAID IN 2012

The little city is rising - in size and price

The little city is rising – in size and price

According to The Real Deal, the Falchi Building is about to be sold for $255 million, more than triple the $81 million paid back in 2012 by current seller Jamestown Properties.  Upon purchasing the building, located near the 33rd St. 7-train station (and two blocks from City Ice Pavilion), Jamestown converted it from the old-LIC mode – storage/distribution, to office space.  They were the first to do it in LIC, and subsequently numerous others have followed suit.

Evan Daniel, who heads Modern Spaces commercial & investment property group, has heard from sources that Jamestown spent between $13-$15 million in capital improvements to bring the building up to date.  Even including those costs, Jamestown’s timing and vision were pretty Continue reading

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