A new beer hall is coming to the Blanchard Building on Borden Avenue according to Patrick Sweeney of Related Companies, which is the new owner of the building. This information was buried in an article in yesterday’s New York Times about how the fashion industry has been gobbling up commercial space in LIC to the extent that it very well may become the second coming of the garment center, or actually replace it all-together. We’re happy to mine the crumbs of this esteemed newspaper to wring a great headline1- even if unlike the NYT we can’t get a call back from Related. We’re also very happy to have yet another tremendous beer offering coming to LIC.
//I’d also be very happy to be acknowledged by said newspaper as being ahead of the curve on the changes and growth in commercial real estate in LIC. That might be too much to ask, even if they framed an almost identical lead photo to encapsulate the story …two weeks later.
Nevertheless, as readers you should be very happy to have a publication that is on the ground in your hometown, and has the ability to recognize and analyze these trends at their incipiency …even if we’re not very articulate in doing so.
Anyway, the transformation in Long Island City’s commercial real estate was topic du jour #1 at the LIC Summit put on by the LIC Partnership yesterday. Like their real estate breakfast in April, there was a lot of talk about maintaining a “mixed-use” environment so that old-school businesses don’t get moved out. Personally this sounded a lot like the cry to keep the artist community in LIC, which I viewed as mostly lip service. Better summarizing the inevitability was Kathryn Wilde, CEO of the Partnership for New York City2, who reminded the audience that “it can’t be about the nostalgia, it has to be about the future.” and “The forces of real estate and money are too great to counteract.” Fortunately, as she noted, there’s an incentive for real estate and business owners to curate space (aka set aside some at less than market rents, for highly desirable, if not profitable, tenants). Plus, there’s always Detroit.
Topic du jour #2 at the LIC Summit, was transportation and the tremendous need for more due to the expected growth in LIC and environs. A lot of ideas were thrown around, and the need was fully acknowledged, and the leaders on the panel were certainly knowledgeable, but this is a quagmire for which none had the answer.
Price and Proximity Draw Fashion Industry to Long Island City – Long Island City is drawing more in the clothing industry because of its convenient 10-minute subway ride to the garment center in Midtown and low rent
Investment Firm Sells LIC Office Building for $90 Million – 50% more than it paid for the property two years ago
Yes, Ferries Can Help the City, but de Blasio’s Missing the Boat – De Blasio’s ferries will carry 4.6 million people a year, while the subways carry 6 million people a day. Long Island City has built 8,600 new apartments in a decade — and is planning 22,500 more. Yet the No. 7 train is already packed in the morning and the afternoon; it cannot fit tens of thousands of new commuters
EDC Brings BQX to LIC – “he reiterated EDC’s contention that any expansion of development must include expanded transportation options” -but I’m not sure this is it
Support Grows for Jamaica-LIC Light Rail – the majority of Queens workers rely heavily on the east and west bound 7 and E trains, which have become ‘completely congested’ due to the increase in population
Queensborough Bridge Toll Plan Gains Key Supporter - it feels like this is going to happen
Small Business Stress a Hot Topic at LIC – “I’m concerned that if we don’t protect the small businesses we’ll lose the character of the neighborhood,”
Station LIC Closes – new incarnation coming per owners note
The Brewery Show Profiles LIC Beer Project – while we’re on the topic of beer halls, don’t forget this great space
UA Kaufman Astoria Cinema to Remain Open – contrary to recent stories about its demise
Permits Filed 42-22 Crescent Street – funny how residential RE news gets buried nowadays. Anyway an additional 29 cookie-cutter units planned for just north of the bridge
Leasing Starts at LUNA LIC w/ Units Starting at $2,000 After One-Month’s Free Rent – probably going to take a little more grease to fill this
Sleep In a Cozy-Comfy Taxi in LIC for $39 a Month – AirBnb moveable units reappear in LIC
Antigone Coming to the Secret Theatre – and transported to Ireland, July 7-17
Man Steals $25K Urethroscope From LIC Home – where do you fence something like this?