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LIC GLUT?

March 11, 2016 by editor 3 Comments

Whether it's $3,000 or $3 million, we all shop at Food Bazaar — Whether it’s $3,000 or $3 million, we all shop at Food Bazaar

This week comes two stories that should give a pretty good indication of where things are headed in the LIC, and NYC, real estate market. First, an article in DNAinfo talks about the increased concessions, in particular a free month’s rent, that landlords are giving prospective tenants. The freebies are up to 19% ((versus what? all leases or just new tenants, is not given; nor what time period it’s in comparison to)), which supposedly is the highest percentage in six years. While the specifics of the numbers are a little nebulous, I have little doubt that the trend is real and that it’s accelerating, or about to. Implied in the story ((or at least as I’m reading it)), is that while reported rents in the city keep inching higher, or at least staying afloat, cracks are starting to appear.

The second story will be the proof in the pudding, or not, for Long Island City. [Read more…] about LIC GLUT?

HAPPY FOURTH BIRTHDAY LICTALK!

March 8, 2016 by editor 3 Comments

This has Starbucks all over it — The new LICtalk corporate offices …or maybe a Starbucks

“I can’t deny the fact that you like me, right now, you like me.” – Sally Field ((“You like me, you really like me.” Sally Field did not actually say this line in her acceptance speech for Best Actress at the 1984 Oscars, it’s a common misquote. Instead, her verbatim quote from onstage is the one I used))

Tomorrow, March 9, LICtalk will be four years old. Though still in its infancy, we are wise beyond our age – I mean that’s like 23 in dog years. Since our inception we have held nothing back, and in return we have earned and received your unconditional love. In fact, just recently we [Read more…] about HAPPY FOURTH BIRTHDAY LICTALK!

LOOKING BACK ON: LONG ISLAND CITY IN 1980

March 4, 2016 by editor 2 Comments

Given the void of local news, now is a good opportunity to get out the time machine and take a look back at the recent past of LIC. In lieu of a time machine, we’re going to use another contraption called Google. It has unearthed a gem of an article from New York Magazine written back in August of 1980, titled “The Next Neighborhood: Long Island City.”

It didn’t quite work according to plan, and the timing was off by over 20 years, but the two constants throughout all the fits and starts and hopes and dreams, were [Read more…] about LOOKING BACK ON: LONG ISLAND CITY IN 1980

SUGARCUBE OPENS IN HUNTERS POINT

March 1, 2016 by editor 1 Comment

Spring came early Sunday, and brought out a lot of potential patrons for Sugarcube — Spring came early to LIC Sunday “Hmm, maybe there are enough patrons for another cafe”

A new cafe called Sugarcube Patisserie has opened on 50th Avenue between Vernon Boulevard and Jackson Avenue. It serves pastries, gelato made in house, petit-fours, and of course coffee. The building housing it blasted out a previously non-existent storefront to create a retail space, as the demand and price for street level locations escalates higher. Early reviews from a sprinkling of readers are very good, so take tomorrow off and join cafe society for a day.

//The owner of the Army/Navy store on Vernon has “narrowed the list to [Read more…] about SUGARCUBE OPENS IN HUNTERS POINT

CITY TO BUILD HOUSING & SCHOOL ON WATERS EDGE RESTAURANT

February 25, 2016 by editor 7 Comments

New life for the Paragon Paint Building development?

The NYC EDC has put out a request-for-proposal (RFP) to develop the land currently occupied by the Water’s Edge Restaurant and the adjacent parking lot along the East River, as well as a long thin lot across the street on the south side of 44th Drive. In total, it’s about 4.5 acres, with the choice river front property about 75% of that total once one includes the possibility of reclaiming, via landfill, a portion of the lot that’s currently underwater.

The city’s RFP makes it clear that they want the developer to think big and ignore the current zoning restrictions ((M1-M4 = low slung manufacturing buildings)), and while paying lip service to including space for light manufacturing, heavily emphasizes the desire for affordable housing, on the magnitude of ~1,000 new apartments. Also, it begs the question: now that the city has shown their hand and a willingness to quickly change zoning in this specific neighborhood, does that mean the Paragon Paint Building should be given an exemption, as the previous complaint against doing so per Community Board 2 was that a comprehensive plan was needed?

Also, the RFP requires that [Read more…] about CITY TO BUILD HOUSING & SCHOOL ON WATERS EDGE RESTAURANT