The old real estate gentrification trajectory was that artists moved into a a rundown and/or industrial, and definitely inexpensive neighborhood, fixed things up and created a community, only to eventually be priced out by wealthier non-artists hoping to have a little of that artistic funk bleed into their persona. In the 21st century, where things move at the speed of light, that conversion from rundown/industrial to artistic to gentrified has been compressed into one step. As soon as even a hint of any traction by artists to claim a neighborhood is documented, developers big and small swarm in and buy every available property in the vicinity.
On the front page of yesterday’s NYT’s real estate section, the paper identified, or maybe manufactured, a new real estate trajectory. In it, developers create a new community pretty much from scratch, or by fiat, that is seemingly geared towards young people, and older ones hone in on it and move in. In my mind it’s kind of like how male grad students view attending an undergrad fraternity party. This pretty much sums up the article:
“…driven by a taste for adventure and a lively urban lifestyle, a new crop of older New Yorkers are casting an eye on areas heavily populated by the young and the artistic. These neighborhoods include Greenpoint, Red Hook, Gowanus, Bushwick, the East Village, the Lower East Side and notably, Long Island City, …just as Williamsburg beckoned them a few years ago.”
I can’t say I blame them either. If given a choice between a 55-and-over community in Fort Myers or a high rise in Long Island City, I would definitely choose the latter …not to say that I’m anywhere near having to do so, I’m just thinking about, umm, others who might be in that situation. About the only advice I can give this new, err old, demographic is, don’t expect to see too many artists in our neighborhood, the last ones left town when 5Pointz shut down. Though you will see an abundance of young singles, dogs, exhausted parents, and other peoples grandchildren.
But you won’t see any of them on July 4th, because while the Macy’s fireworks are coming to the East River in 2014, it doesn’t look like any of the barges will be north of the Manhattan Bridge. That’s ok, I’m sure that Queens sacrifice to Brooklyn is only for a year, right…Right?
Finally, the 9th annual Taste of LIC will occur on Tuesday, June 3rd, and tickets go on sale tomorrow. At $50 each for the first 500 to purchase, it’s both a bargain and a great way to help out local theater The Chocolate Factory Buy tickets here.
New York Boomers on Hipster Turf – hipsters, do they make those anymore?
Fireworks Shift to Brooklyn Reflects Kings-centric Trend – telling it like it is
Fourth of July Fireworks Back on East River – everybody get in line
Watchmaker Moves East as Industrial Space in LIC Shrinks – need more evidence that the 20th century trajectory of gentrification is vanishing: “Industrial businesses looking to move or expand in Long Island City face an increasingly tight market, as rents have climbed in the aftermath of rezonings, in 2001 and 2004, that opened up much of the former manufacturing area for residential uses.”
Woodside, Queens, Draws a New Crowd – maybe you’ll see artists here: “apartment rents are nearly 25% below those in Long Island City, which until recently was billed primarily as a cheap, convenient alternative to Manhattan.”
Two Chefs from Il Mulino to Open Italian Restaurant in Former Da Gianni Space – clams casino, squid ink linguini, osso bucco, tiramisu, and a sliced orange, washed down with prosecco, a ’97 barolo, grappa, and a double espresso, not a bad start to the week.
LIC Startup “KeyMe” Bags $7.8 Million in Funding – plans big expansion
Missy says
April 14, 2014 at 9:12 pmThe Manhattan Bridge seems an awfully long way to look at fireworks from LIC. Does anyone have any idea how good the viewing will really be from the waterfront here?
Paul says
April 15, 2014 at 7:30 amWe can always take the G train down to Brooklyn to see the fireworks, if its running.