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COMMUNITEA RE-OPENS, DANNY BROWN’S WILL NOT

September 29, 2015 by editor 1 Comment

The Last Dance, for this year anyway — No Michelin stars, but still culinary greatness

Back in the Mad Men days of say 1964, in addition to working in advertising, nothing was hipper than knowing a diplomat and attending parties at foreign embassies. In a very straight, conservative, monochrome country, any accent, the more exotic the better, was accorded a certain cachet in Manhattan circles. Feeling those choppers late yesterday afternoon as they hovered just above Gantry Park, and the omnipresence of the UN Building for anyone visiting the waterfront, reminded us once again that LIC is at the center of the universe.

At the very other end of the scale, is [Read more…] about COMMUNITEA RE-OPENS, DANNY BROWN’S WILL NOT

HOLY AUTUMN TREMORS FROM ACROSS THE RIVER

September 25, 2015 by editor 2 Comments

Get your pipes and your teeth fixed here

The Fall Equinox brings police boats to the East River for UN week, the Jets teasing their fans as if this is the year, a good yontif to the pontiff, and best of all Oktoberfest in full swing ((it is a 16-day festival running from mid or late September to the first weekend in October)). It did not [Read more…] about HOLY AUTUMN TREMORS FROM ACROSS THE RIVER

A CHANGE IN DIRECTION – APARTMENT PRICES TO FALL IN 2016

September 21, 2015 by editor 12 Comments

A whopper going up on West Street in Greenpoint. One of many going up on the waterfront just south of us — A whopper going up on West Street in Greenpoint. One of many being built on the waterfront just south of us.

Apartment prices are heading down soon, there’s simply too much supply coming on. Not only in LIC, but citywide – a gaze across the river confirms that the cranes aren’t just in Court Square and Queens Plaza. A good analogy would be the recent drop in crude oil prices. All those drilling rigs cracking open shale, led to a glut. In the latter stages, a lot of cheap debt and high priced equity fueled even more drilling, until it tipped the balance.

We have the same in NYC – a hunt for yield has led investors worldwide to invest here, both by lending money to developers and acting as silent partners on the equity side ((and agreeing to very generous ‘promotes’ to the developers)). So many of the new towers and other projects are being built using Other Peoples Money (OPM), which in the 21st century is the last stage of a real estate bull market. The good news is that the percentage drops from today’s peak apartment prices, will not be nearly as drastic as oil’s.

More importantly, while we expect softness in the rest of the city, sales inventory in LIC [Read more…] about A CHANGE IN DIRECTION – APARTMENT PRICES TO FALL IN 2016

AHH SEPTEMBER IN LIC

September 17, 2015 by editor 6 Comments

New playground for little kids, now we we need one for big kids

It took a little while to get into swing this year, but my packed 7-train the last two days means it must be September. Wait there’s a disconnect, it’s 89 degrees out and [Read more…] about AHH SEPTEMBER IN LIC

PARTICIPATORY BUDGETING IS COMING: TWO SUGGESTIONS FOR LIC

September 15, 2015 by editor Leave a Comment

What the...? — Or maybe we can choose another one of these?

Next Tuesday, September 22, at 6pm there will be a Participatory Budgeting (PB) neighborhood assembly in the auditorium at PS78Q. ((the one on 5th Street)) PB is where our local councilman lets you decide how to spend $1 million on community improvements to parks, schools, libraries, streets, and more. It’s not quite that simple, there’s a whole process in place to make sure it doesn’t end up in your Uncle Lou the contractor’s pocket, but it’s the starting point for ideas. So here are two suggestions for LIC. [Read more…] about PARTICIPATORY BUDGETING IS COMING: TWO SUGGESTIONS FOR LIC