Category Archives: Real Estate

“KNOCK DOWN THE PROJECTS AND BRING IN THE CRANES”

Walking on the sidewalk, hotter than a match head

Walking on the sidewalk, hotter than a match head

But at night it’s a different world
Go out and find a girl
Come-on come-on and dance all night
Despite the heat it’ll be alright

3 1/2 years ago LICtalk proposed razing Queensbridge.  Not because it was a blight on Long Island City – its presence has minimal impact, but instead as a pragmatic solution to the endemic problems of, well …the projects.  It took awhile, but now others are making similar arguments, most notably in Continue reading

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THE SHANNON POT BAR N GRILL MOVING TO 11TH ST.

Future home of The Shannon Pot

Future home of The Shannon Pot

THE Shannon Pot will be relocating once again, this time going into a former coffee shop located on the southwest corner of Continue reading

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SUNNYSIDE YARDS DEVELOPMENT UPDATE

All leased up and no place to go, nice looking building though

All leased up and no place to go, nice looking building though

AN article in The New York Times this week rehashing the proposed development of Sunnyside Yards pulled the editorial staff here out of their late-summer stupor.  I could spill lots of ink rebutting the rationale put forth by the proponents of this pipe dream, but I’m on the beach and the waves are so soothing.  Plus I’ve already done so in the past, so I’ll boil it down to the two main arguments: Continue reading

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CONDOS AND LUZZO’S AND SHOOTINGS OH MY

Citi of The Dead

Citi of The Dead

If my words did glow with the gold of sunshine
And my tunes were played on the harp unstrung
Would you hear my voice come through the music
Would you hold it near as it were your own?

It’s August in Long Island City folks and with it comes the type of inconsequential news all other publications covering LIC put out 12 months a year.  But it’s also Continue reading

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NEW FOOD HALLS AND LOTS OF COMMERCIAL REAL ESTATE IN LIC

A nice little shack on the water

A nice little shack on the water in LIC

ONE million square feet of office space is up for lease in the Citi Building in Court Square as Citigroup consolidates according to the New York Post.  That’s a lot I think.  In addition, YIMBY revealed that a 24-story spec1 office building containing 400k sq. ft. is coming to Queens Plaza South.  Ahh, 24 stories, that’s a lot easier to comprehend spacially – but I’m glad they also supplied a picture.  As for the Citi building, a million square feet is roughly 2/3 of the tower.  Yeah, a lot.

In order to attract commercial tenant(s), the owner of the Citi building plans on transforming the 5-story retail “atrium” to Continue reading

  1. as in speculative, as in being built on spec that they can fill it, as in they have no tenants currently lined up, as in it’s a total crapshoot, as in it must be getting built using OPM []
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GLUT, TAXES, AND MASSIVE CONDO TOWER GETS GO AHEAD IN LIC

So peaceful, and yet...

So peaceful, and yet…

There’s a bright golden haze on the meadow,
There’s a bright golden haze on the meadow,
The corn is as high as an elephant’s eye,
An’ it looks like its climbin’ clear up to the sky

For the first couple of years of its existence, LICtalk would offer it’s financial predictions on every type of building in Long Island City in an annual post entitled “Real E-State of The Union 20–”  Since the last one in 2015, one could extrapolate the projections and pretty much end up where things are currently.  In light of some recent developments I’m going to cut to the chase and talk about what readers care most about: condos and rentals.  Or maybe it’s condo or rental? Continue reading

CITYLIGHTS TAX SAGA, TWO LESSONS FOR ALL LIC CONDO OWNERS

Meals on Wheels making its daily delivery to Citylights

Meals on Wheels making its daily delivery to Citylights

Just as the tax abatement for the Citylights Building was about to start rolling off, NYC boosted the buildings assessed value by 87%.  For good measure they tacked on another 5% this year.  The near doubling in possible tax payments has the co-op’s residents looking at a 50% increase in already steep monthly maintenance over the next five years, which if implemented on this tower of over 500 units will force out many residents who can no longer afford to live there.

You can read the story below for more details.  Instead I’d prefer to focus on two takeaways that all apartment owners in Continue reading

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BIG HOTEL BY BIG ALICE & KYRIE IRVING CANOODLES

Get a room Kyrie

Get a room Kyrie

A 385-room 15-story hotel has been proposed at a location two blocks east of the Ravenswood Generating Plant, aka Big Continue reading

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DUTCH KILLS TOWNHOUSE PUT ON MARKET FOR $5.5 MILLION

Meanwhile at the other end of LIC

Meanwhile at the other end of LIC

A townhouse in Dutch Kills was just put on the market for $5.5 million according to a lengthy article about it in The Wall Street Journal.  A former Queens firehouse purchased in 1981 by the seller, it underwent Continue reading

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GREEN STREET SHUT DOWN FOR TAXES & MORE RESTAURANT NEWS

La Grenouille? Non

La Grenouille? Non, mais tres a propos

ACCORDING to a large yellow sticker on the front door of The Green Street the property has been seized for non-payment of taxes.  The all-natural Korean Bbq restaurant located on 47th Road between Vernon and 11th Street has only been open for about a year and a half.

In other restaurant news Continue reading

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