Real Estate

CONDO CRAZY IN LONG ISLAND CITY?

November 30, 2018 by editor Leave a Comment

Not too many condos along the waterfront

YOU’VE undoubtedly heard that condos in LIC are selling like hot cakes and Open Houses are jammed post-Amazon. There’s probably some hyperbole in there – that’s the news business (and real estate brokers) – and it’s important to remember any mention of tripling and quadrupling is off a very low base. Yet for all the obvious reasons purchasing property in Long Island City has become the topic du ~~jour~~ month in NYC and worldwide.

Which is why I was attracted to a building in Astoria, which is located almost as far away from Long Island City as one can be in that adjacent neighborhood. The listing that caught my attention is [Read more…] about CONDO CRAZY IN LONG ISLAND CITY?

BE CAREFUL WHAT YOU WISH FOR

November 27, 2018 by editor 8 Comments

WHAT if Amazon did an about face and bid adieu to locating HQ2 in Long Island City, stating that the rancor over subsidies, additional demands, and outright opposition to gentrification made it untenable. How would that make you feel? [Read more…] about BE CAREFUL WHAT YOU WISH FOR

CITY HARVEST SITE IN HUNTERS POINT SOLD TO TF CORNERSTONE

November 19, 2018 by editor 8 Comments

Sorry Huck and Tom, no more shenanigans down by the creek (click on pic for detail on City Harvest at left)

An 8-acre plot of land where City Harvest currently runs its operations has been sold to TF Cornerstone according to the New York Post. Located at the very southern tip of Long Island City on Newtown Creek, it is adjacent to the “backside” of Hunters Point South Park.

The land is zoned to allow four 400-foot towers which can contain over 2,000 residential units, 1/3 of which must be affordable. [Read more…] about CITY HARVEST SITE IN HUNTERS POINT SOLD TO TF CORNERSTONE

AMAZON HQ2 IN LONG ISLAND CITY, GOOD DEAL OR NOT?

November 16, 2018 by editor 9 Comments

Reactionary? Yes. misguided maybe, redirected for sure — Reactionary? Yes. Misguided? Maybe. Redirected? For sure

Since it cost a lot to win
And even more to lose
You and me bound to spend some time
Wondering what to choose

I have read the 32-page Memorandum of Understanding (MOU) between Amazon and NYC/NYS. I have read most of what others have written on the HQ2 deal and incentives. I am a financial analyst by training. Most importantly, I have lived in Long Island City for ten years and have closely tracked all that goes on here, both economically and non. Despite all these attributes [Read more…] about AMAZON HQ2 IN LONG ISLAND CITY, GOOD DEAL OR NOT?

MIGHT AMAZON HQ2 OCCUPY THE PLAXALL SITE?

November 9, 2018 by editor Leave a Comment

First let me state that every detail about Amazon’s locating half of their HQ2 in Long Island City is purely conjecture, including the possibility of their actually coming here, which Vegas currently handicaps at 1:4. Thus as much as I want to share more of my opinions on what, for better or worse, will be the most transformational news to effect LIC, I will hold my tongue until any official announcement. Because the devil is in the details.

Nevertheless considering the high probability (1:4 = Yes, not 4:1), I will entertain and analyze a rumor, even if it turns out to be a meaningless exercise – or completely wrong. That rumor is that Amazon will locate their headquarters on the Plaxall/Water’s Edge land – a possibility which has been mentioned in several articles, without any serious validation to my eye.

Anyway, there would be two major positives for Amazon to choose this site, and one major negative, plus a whole bunch of minor +/-’s that I won’t bother fleshing out here. Positive number one is that it will allow the company to build a campus from the ground up, tailored to what they need in terms of amenities and aesthetics for attracting today’s white collar workers. Positive number two is the free advertising given the full visibility of the waterfront by both everyone in Manhattan and all the tourists – whether they be on the ferry, Circle Line, or even viewing on TV. It’s a headquarters and a showcase. The big negative? It’s not really near a subway line. Everyone who works there would have to trudge 7-9 blocks through Hunters Point if they arrive by subway, or add a mini-leg to their commute via shuttle-buses.

Food for thought, and while we’re on that topic, here are some non-Amazon LIC links:

Adda’s Canteen Style Dishes – The New Yorker pays homage to our new local Indian restaurant

Bryce Harper Moves Into a Long Island City Apartment Building Where 4 Mets Currently Live – wouldn’t it be cruel if he signed w/ the Yankees?