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.
My own peek into the site revealed it to be amidst a complete gut job. Thus the timing is in ‘haha’ land.
//NOT only was there a paucity of restaurant openings recently, but for some strange reason there seems to be a dearth of apartments available in the resale market in Hunters Point. Despite reports that NYC condo prices are softening, local owners appear to not be making a last stab at cashing in on the tremendous run-up of the last few years. At least according to an informal survey of listings gleaned from Streeteasy:
(total units / active listings / asking price per square foot)1
5SL: 3 /121 / $1295
Powerhouse: 4 /177 / $1147
Murano: 2 / 76 / $1205
L Haus: 0 / 123
Citylights: 6 / 522 / $856
The View: 6 /184 / $1952
One Hunters Point: 1 / 132 / $1175
Lo and behold, I compiled this data at the beginning of the week in response to noticing how few listings there were in a building a friend was looking at, only to have a brokerage study come out two days later and extrapolate the trend to all of Western Queens and Brooklyn.
The compiler of the study attributes the overall depleted inventory to the many closings that occurred last year. Yet on a per building basis, LIC’s scarcity seems particularly acute. I think that is because owners here believe there is still more value to be wrung out of the neighborhood, despite the marked run-up in prices the last 3-4 years. Indicative of this, is that the condominium with the highest % of apartments for sale, is The View. Where several owners have listed their very high end units at very aspirational prices, as seen in the big gap in asking price per sq ft. to the other buildings. Not coincidentally, many of these have languished on the market for quite some time, despite the seemingly still hot sales environment in the two outer boroughs.
Brooklyn and Queens Residential Sales Show no Sign of Slowing – “During the fourth quarter of last year, the median price in Queens was $498,000, about 6% higher than a year ago and the second-highest on record”
LIC Partnership’s Liz Lusskin is Taking the Long View of Queens – “We are opposite Midtown and Midtown South and we’re seeing so much demand right now because of that relationship”
Butcher Bar Deli on Vernon to be Replaced by E&I Deli Expansion – upstairs will serve wine and beer
Sports Bar to Replace Tutti Matti on Vernon Blvd – wow, lotsa changes coming to Vernon
Partial Reveal 27-07 43rd Ave, Future home of a Hyatt – all topped out, but not quite ready to go in Court Square
Permits Filed for 9-Story Residential on 27th Street – sure, add another development to this already busy block just north of the bridge
Captain Ralph Forgione Takes Command of the 108th Precinct - NYPD policy is to rotate commanders every two years
LIC Warehouse Turned Into Haven for Cats w/ Flu Virus – here (‘s) kitty kitty
The Chocolate Factory Brings Daniel Fish’s Untitled to LIC – includes a history of the Chocolate Factory
- listings are net of those labeled “In Contract [↩]