Real estate recaptures the headlines for LIC this week. Within 24 hours, two different websites put out stories marveling at all the construction going on along Jackson Avenue. Curbed’s methodically walks through every single project, while Yimby’s focuses on the potential of a two-block stretch. All I can think is LIC Glut.
Two other little stories add anecdotal fuel to this fire. The first is about a 3-unit condo project off Vernon, that utilizes a new source of mezzanine financing: the retail investor – always the last guy in! The second details a 7-story 20-unit development being built along the elevated subway on the LIC/Astoria border, where every building around it is low-rise and fairly gritty (Enterprise Rent-a-car, Halal Live Poultry). The developer is the owner of the lot, which currently has an empty, graffiti-laden three-story house on it, and they’ve owned it since 1984.
//While we’re on the subject of LIC real estate, there’s also an article about Queens priciest listings in April and #1 looked awfully familiar. It’s the legendary $5 million+ penthouse in The View, which according to the Daily News back in August had an accepted offer. I guess that didn’t come to fruition, so it’s been re-listed, this time with an even higher price of $5.6 million. If that’s a touch too much, the same agent has another luxurious penthouse for sale in Casa Vizcaya for only $4.5 million. That too has languished on the market since September. Nevertheless, at least neither one is located on Jackson Avenue.
//For those only able to dream about life in a penthouse, we share a tip about a non-real estate deal that will allow you to dream big amidst the skyline. Queens Beer Week has their kick-off party next Saturday, May 14 from 4pm-8pm at LIC Landing. For $11.54 you can guzzle beer from nine different local breweries. Click below for tickets and more info.
Strolling LIC’s Jackson Avenue, Where New Buildings Abound – the most crowded building corridor since Dubai a decade ago
13-Story Mixed Use Building to Rise at 27-51 Jackson Ave – and then this townhouse will soon be a…
Revealed: 36-31 31st Street – cramming it all in
DC Real Estate Firm Crowdfunds LIC Condo – you too can own .03% and tell all your friends about your new sideline in commercial real estate lending
April’s Priciest Queens Listings – what, only one in LIC?
Casa Vizcaya $4.5 mil Penthouse – Open House this Saturday @ noon
Pat O’Brien Steps Down as Chairman of CB2 – took Chairmanship in 2014, found it too time consuming
Ferry Landing Designs Revealed by NYC – we’re slated to get one on the northern end of Gantry Park
Queens Beer Week Kick-Off Party – “Marge send the kids to the neighbors. I’m coming home loaded.”