Everybody wants to support their local retail merchant, but given the chance to save a few bucks most still gravitate to the lowest bidder. One industry whose prices are basically fixed ((due to insurance, medicare, and medicaid)) is prescription drugs. Nevertheless there’s a misconception that the chains offer lower prices than independents. Furthermore, with the exception of some loss-leaders, many non-prescription items are actually more expensive than their local peers, CVS and Rite Aid are no bargains. Given this background and several favorable anecdotes and endorsements by residents, I decided to profile the two independent pharmacies in Hunters Point. [Read more…] about INDEPENDENCE HAS ITS VIRTUES AT LIC PHARMACIES
In February of 2016 the City decided to develop the land in and around the former Water’s Edge Restaurant on 44th Drive by the East River. Given the prospective zoning variance the city was offering, a pair of 60-story towers were possible on this choice piece of property1, so the proposed project is massive. RFP’s from developers were due that May and were required to include a new school, some affordable housing, and a few other stipulations most notably a set aside for light manufacturing.
After submission the proposals would be reviewed by the NYCEDC (Economic Development Corp) and I was under the belief that shortly after the New Year they would pick 2-3 of those they deem viable for a bake-off, during which time there would be some community review and recommendations and then a winner would be chosen. Now I’m hearing grumblings that the city is going to bypass the middle step and just render a final decision.
Which is really a shame because in addition [Read more…] about WHAT’S UP WITH THE WATER’S EDGE DEVELOPMENT SITE?
- actually two properties across the street from each other [↩]
Altice USA, formerly known as Cablevision, is moving it’s headquarters to Long Island City from Bethpage in Long Island. In addition, it’s Manhattan offices, where a lot of the big hitting advertising and sales executives are located, will also be folded into the new headquarters location. As such, this $17.7 billion corporation1 will be the largest headquartered in LIC.
The implications of this are even bigger for Long Island City because [Read more…] about ALTICE USA, fka CABLEVISION, MOVING HEADQUARTERS TO LIC
- It’s Enterprise Value (EV) when purchased last year [↩]
THE New York Times is out today with a story on the emptying out of the Blanchard and Paragon buildings on Borden Avenue, in order to make way for higher-paying office tenants. Whole businesses are vacating the premises, typified by the protagonist of the story, a furniture upholsterer who is leaving for Long Island. LICtalk has previously profiled two businesses in the Blanchard. The first BklynBooks (aka iPodMeister) was mentioned in the Times story, and is moving to Paterson, NJ. The second, Manhattan Fruitier, has moved a little further east to the LIC/Sunnyside border. Prophetically, the owner of the latter sent me this quote when I asked him about the sale of the building a year ago: [Read more…] about THE DOWNSIDE OF GENTRIFICATION IN LONG ISLAND CITY
ACCORDING to an article this weekend in Crain’s, The Harrison, a 27-story/120-unit condominium in Court Square, is 60% sold despite the fact that it won’t be completed until June, and thus doesn’t even have a model apartment to exhibit. In addition, the article mentions that all 33 condos in The Marx are sold.
The latter building is located on the Astoria/LIC border across the street from the Kaufman Studios. Heretofore I’d refer to this as a no-man’s land, yet [Read more…] about NEW CONDOS STILL SELLING LIKE HOTCAKES IN LIC