Real Estate

Affordable Housing Lotteries Yes, Micro Hotel No In LIC

January 20, 2022 by editor Leave a Comment

REAL estate steps back into the headlines this week. First off a pair of affordable housing lotteries in LIC were announced. The bigger one is for 288 units at the massive 71-story Sven Tower in Queens Plaza. One bedrooms are $2,189, 2-br’s $3,328, and 3-br’s are $3,843 – if you win lotto. For comparisons sake, a reminder that market rate apartments at the relatively new American Copper Towers in Manhattan had 1-br’s starting at $4,958 and 2-br’s at $8,067, and I’m guessing similar market-rate apartments along the LIC waterfront are going for a 25-35% discount to these.

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New Field In Hunters Point? Sure, Why Not?

December 8, 2021 by editor Leave a Comment

Hunters Point LIC — field of green on the southern tip

The LIC Post reports that the city is preparing an RFP for the final two parcels of land in Hunters Point South along the waterfront. While the development of these adjacent plots into massive residential towers has been all but set in stone, in light of recent movements a sprinkling of dissenters has sprung up calling for an alternative.

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LIC Conundrum

November 18, 2021 by editor Leave a Comment

49-18 Vernon Blvd Long Island City — nothing

ACCORDING to the Citizen app a driver was carjacked at gunpoint at the intersection of Jackson Ave and 50th Ave around 6am Tuesday morning. Not overly surprising, we may live in Mayberry but the rest of the metropolis is omnipresent.

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‘Meanwhile Up In QueensBridge’

November 3, 2021 by editor 2 Comments

“Nothing happens. Nobody comes, nobody goes. It’s awful.”
Samuel Beckett, Waiting For Godot

IN between breaking news about restaurant opening’s and musing on the direction of local real estate markets, it’s not unusual that I include a link to a violent crime that recently occurred with the comment “meanwhile up in Queensbridge” if that’s where it took place.

The flippancy of this comment has nothing to do with the lack of gravity over the act, and everything to do with the exasperation of it’s recurrence and inability to change this state of affairs. In reading the headline about the shooting death of a 37-year old man several weeks ago, I was about to cut and paste the link and my usual comment once again1, but the frequency has increased to a level of desperation. The fact is that nothing short of a major overhaul will curtail this violence.

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in the same manner that I imagine the writers of these articles do by now [↩]

Here’s What To Watch In LIC Real Estate

October 6, 2021 by editor Leave a Comment

JP Morgan Headquarters Park Avenue — JP would be proud

LUNCH lines in Midtown fast-casual dining hot spots are starting to get lengthy again despite repeated stories of the office mecca’s inability to turn the corner occupancy-wise. The extraordinarily easy access to midtown is a large selling point for LIC apartments, because time is money and by the transitive property vested in me I do declare: commute = time = $ which = higher home and rental prices, Ka-Ching!

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