So, in the holiday news vacuum Bloomberg puts out a big story about how condos are coming to little-old LIC. Not to pop your bubble, but after reading it one comes to realize that all that’s happening is:
“In the last two years, nobody was really talking about doing condos,” said Eric Benaim, president and chief executive officer of brokerage Modern Spaces, which markets new developments locally. “Now everybody’s talking about doing condos.”
Lotta talk, lotta words in this article, not a lot really happening, and nothing you didn’t know already from reading LICtalk.
Of much greater interest to locals, is The Court Square Blog’s “Guide to Construction in Court Square.” There you will find broad photos of the neighborhood, showing where each new project is going. And there’s a lot of them, enough to confirm my projected glut for the next few years and soft rental prices. Now that’s a Christmas present you can take to the bank.
Condos Coming to NYC’s Long Island City After Rental Boom – oh yeah, the place w/ the Pepsi sign
A Guide to Construction in Court Square – rooftop pics w/ #s denoting each project
All Real Estate Inside, Outside NYC Too Expensive – and now, the final word on local real estate in 2014. Or the first word on it for 2015.
Professor Knowitall says
December 24, 2014 at 10:35 amCondos or not, developers still aren’t building units that are big enough to keep families here. It’s predominantly studios, 1br’s, and 2br’s.
Anony says
January 3, 2015 at 12:18 amThey’re overbuilding.