Though it’s been downsized from 80+ stories1 to 66 stories, the announcement today that “Court Square City View Tower”2 will be condos, as first reported on 6SqFt.com, is the culmination of Long Island City’s change.
Calling them Superluxury, may or may not be a stretch. The amenities – including a pool, are very luxurious, but not unusually so for a building with 700+ units. The finishes are tbd, but my guess is they will be of a higher standard than newly completed rental towers nearby – which is also not an unusual differential.
What makes this condo project different for LIC is a) the size, and b) the size of some of the apartments. Heretofore the largest condo project completed in LIC34 was The View, which at 184 units is less than one-third the size.
While The View contains certain aspects of higher end luxury buildings, it also was conceived as a place for people with means – but not excessive ones – to actually live (I think). Between the size, the location, and the style of this new tower, I suspect the investing aspect of purchasing a unit here will play a much larger role. More significantly, with plans to only have three apartments on each of the three top floors, we could be looking at Queens first ten million dollar home(s). At least from an asking price anyway.
That could only happen if this tower gets built – something I still believe is far from a sure thing.
Another interesting thing about this project is that there is a 66-story rental building planned by another developer just one block north – and they are using the exact same architect: Hill West. This architectural firm also created the plans for Heatherwood’s just completed 58-story rental building five blocks away.
That’s a lot of new all-glass towers! While I remain doubtful, I do commend the developer for going in a new direction. I’ve long believed that LIC property is undervalued and improperly perceived. Though we’re only at the very beginning of 2017, if this plan does become a reality, we could have a new dynamic in Long Island City real estate come the end of the year.
//Just as LIC is about to reach a new plateau, Astoria too is changing quickly. DNAInfo reports that the nightclub Cavo is closing after 17 years and retailer The Bargain Stop is closing after 25 years. From a Manhattanites perception, the opening of Cavo at the beginning of the 21st Century screamed ‘big hair,’ yet the NYT did praise the food as being more progressive (and good) than that offered nearby at the time. The Bargain Stop was a cacophonously packed and decrepit version of a Dollar Store – but it had bargains …and a soul. Though these ground floor establishments are cut from completely different cloth, they are the last vestiges of an era quickly vanishing in that neighborhood.
New Renderings of Queens Court Square City View Tower – “Queens Future Tallest Building” …or at least one of two. Oh wait there’s that 70-story Clocktower project, and…
Film Fest Honors LIC Native – “Daughters of the Dust” takes place in a different world and time, but my sis’ always said it was great
Cavo No’mo – but the co-owner still has Maiella, where he’s a partner
The Bargain Stop’s – the owner of the 2-story building wants to develop it
- at 984 feet, it’s the equivalent of 80+ @ 11ft stories, even inclusive of tall amenity floors [↩]
- Wow that’s a mouthful [↩]
- Technically Citylights which is 522 units, is a cond-op. More importantly, it was built two decades ago under an ‘affordable housing’ type financing arrangement that makes it somewhat unique and which was never replicated. The aesthetic of the building – not to mention the finances, maintains this legacy. Nevertheless it also has a vastly superior location relative to this proposed tower [↩]
- The newly completed Harrison condo building, is 27 stories, but only has 120 units, and prices top out at $2.5 mil [↩]