A thousand reasons to love Long Island City. Tips: Editor@LICtalk.com
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.
[Read more…] about Two Months Free Rent In LIC
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!
[Read more…] about Long Island City Real Estate: The Latest
THERE is nothing more important than proximity when it comes to exercising. Between inertia and the multitude of distractions in the 21st century, convenience is the key to a successful and thriving Rec Center. Thus when it was pointed out to me that ‘Yes indeed, there is a plan to build a Rec Center in the LIC Waterfront Master Plan,’ I couldn’t help but feel tremendously disappointed in looking at where it’s tentatively slated to be.
[Read more…] about Rec Center Slated For LIC Waterfront, But…
The Waterfront Master Plan was unveiled by the developers last week at a Community Board meeting according to the LIC Post. The details are a little hazy, but big picture they are asking to build up to 12 million square feet comprised of 30 to 60 story towers and a 50/50 split between commercial and residential usage.
In return for this request the developers have offered space for three schools and half a million square feet for arts and culture and similar uses. The proposal will also use a quarter of the total 28 acres for open space and include a pedestrian/bike bridge over Anable Basin at 5th Street.
[Read more…] about Waterfront Master Plan Revealed, It’s Not So Masterful
THE New York Times published an article in the real estate section this Sunday about city folk moving to the suburbs in light of coronavirus. That’s pretty standard fare and unlike the pandemic itself a story like this comes as zero surprise, as do the basic anecdotes and rationales of those fleeing. Nevertheless it spurred me to write down my predictions for what effect the virus will have on Long Island City real estate, a subject I’ve been mulling over since the shutdown began.
[Read more…] about What Does The Coronavirus Mean For LIC Real Estate?