Three bedrooms are in enormous demand in Long Island City now. Indicative of this is the recently announced sale of two out of three 3-bdrm units in a new townhouse conversion on 47th Road. They were available for a single day before both were gobbled up at the full asking prices of $1.77 million and $1.8 million each.
Fret not, because thanks to the Hunters Point lottery there is now an abundance of 3-bedrooms coming to the neighborhood, 57 to be exact. While we can’t make an apples to apples comparison between the HPS apartments and those in the townhouse, there are numerous similarities in addition to their both having a highly coveted third bedroom. Most significantly, they are both brand new buildings, and they are both very close to public transportation which provides short commutes to Manhattan. What are the differences between the two options? The townhouse units are each 1,600 square feet, and thus probably much larger than the HPS units1 . Plus I’m sure they also have nicer finishes and higher-end appliances. What they don’t have is views, amenities, and a park right across the street2.
So let this act as a reminder to readers who qualify, to enter the Hunters Point South lottery today. Or you can spend $2.5 million for the last remaining unit on 47th Road.
// It’s time to don your beret! Cannelle Patisserie is expected to open this week according to the workers inside handing out free samples and coffee this past Saturday. The look of the cafe is more 21st century than vieux quartier. Nevertheless it’s a delicious option for that tweener snack for those people like myself on the five-a-day meal plan.
Breakdown of # of HPS Apartments – 315 2-bedrooms too. Can you imagine what this would do to market rate rental prices on Center Boulevard if these were all market-rate instead of affordable? At the very least it’s gotta be costing renters a free month’s rent. PDF
Condos Sell Close to $2 Million at LIC Townhouse Development – no view, but they are nice though
LIC Land Prices Soaring – “land is selling at an average of over $200 per buildable square foot with some transactions reaching almost $300”
Development Site Sells for $37 Million in Latest LIC Deal – currently a one-story factory on the south side of Murray Park
Amazed says
October 21, 2014 at 11:29 amI can’t believe those walkup apartments were both sold for over $1.5 mil. or even close to that number. Even if there are three bedrooms, they have no doorman and no view. Unbelieveable!