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Prescient But Not Precocious In LIC

July 28, 2020 by editor Leave a Comment

Metal Fabrication Shop Long Island City — just hangin’ out in LIC this summer

Call me Nostradamus. No, no I wouldn’t want the heavy weight of knowing what the future holds, especially these days. How about the second coming of John Paulson? Sadly it would just be a fantasy as my large wager was only in my head. Like the bottom of the Mets batting line-up, two strikes and I may as well be out. Nevertheless my call for a 15% reduction in monthly apartment rents is looking very prescient these days given a recent Crain’s report indicating two months free rent ((14 months for the price of 12 = 15% lower per month (12/14 = .85) ))is becoming more normal in NYC.

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New Restaurant ‘Top Quality’ Opens In Long Island City

July 22, 2020 by editor 4 Comments

A new restaurant called Top Quality has opened at 10-29 44th Rd. in Long Island City. As we previously reported, the restaurant is overseen by Mark Rancourt who formerly owned Extra Fancy in Williamsburg. An employee onsite today shared that the kitchen is led by Matthew Gaudet, a chef who received many accolades heading several high end restaurants in Boston.

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Two Months Free Rent In LIC

July 20, 2020 by editor 2 Comments

Hunters Point South Park — Just another typical morning at the Oval

So after completing my last post which was an update on real estate in LIC, I go on vacation for a couple of weeks only to find that rental prices have seemingly dropped yet again. According to an article published last week in Bloomberg, as well as on their own web site, QLIC, a 420-unit rental building on Queensboro Plaza is offering two months of free rent on select newly-leased units.

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Long Island City Real Estate: The Latest

July 7, 2020 by editor 5 Comments

LIC Skyline — Condo’s, Commercial, or Rentals, the storm clouds are rolling in

It’s been almost two months since we gave our predictions for real estate in Long Island City in the shadow of Coronavirus, what’s transpired so far? Well inspiring me to do an update so quickly, was an article late last week in The New York Times highlighting the number of new apartments available in LIC. Less inspiring have been the multiplicity of articles saying prices are going down/haven’t really gone down much/dire predictions for the future of NYC real estate/minimal sales & leases signed since the shutdown, blah blah blah – all of which contained spotty data and little of value.

The NYT article had facts, and best of all they were specific to LIC. Oh, and Greenpoint too. And the combination of available units and soon-to-be available units in both locales ain’t good – unless you’re a prospective buyer!

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Yumpling On Vernon Blvd in LIC Will Open This Week

July 6, 2020 by editor 3 Comments

Good things come to those who wait. We’ve been lauding its arrival for almost a year now, but Yumpling on Vernon Boulevard in Long Island City will finally open its doors later this week according to one of the owners.

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