A thousand reasons to love Long Island City. Tips: Editor@LICtalk.com
APRIL showers bring May flowers. Oh wait, it’s December! Enjoy it while you can. As I stated earlier in the week, this time of the year the news takes a snooze. Yet due to the mild weather construction keeps charging ahead. Buildings quickly add more floors, and ground continues to be broken.
A nice new facade appeared on [Read more…] about DECEMBER FLOWERS IN LIC
“Since the 1920’s, city planners have dreamed of transforming Long Island City into a major urban center just five minutes by subway from midtown Manhattan on the Queens bank of the East River. In September, the City Planning Commission will vote on proposed zoning changes that would make the dream possible.”
BY “September,” we’re talking 1995, which was when the opening paragraph above was written in an article in The New York Times. These zoning changes combined with additional ones made to Court Square/Queens Plaza in 2001, were the starting point of the march to what Long Island City is today.
Like many things, it took a little longer to play out, but the end results were also much, much bigger than anticipated.
In Hunters Point, the edict above led to [Read more…] about LONG ISLAND CITY 2016 – HOW DID WE GET HERE?
Big changes have come to LIC. First, the long-vacant red-brick building on 48th Avenue between 5th Street and Vernon Boulevard lost it’s scaffolding and revealed it’s new facade. In addition to modern windows and a sandblasted exterior, construction has resumed and new floors are being added. 3 1/2 years ago we shared a rumor that this was going to be a hotel with a steakhouse. One new president later and I’m thinking condos.
Secondly, the two-story industrial building on the northwest corner of [Read more…] about REVEALING THE NEW FACE OF LONG ISLAND CITY
IT doesn’t happen often, but there is a new listing for a townhouse in the landmarked section of 45th Avenue between 21st and 23rd Streets. It’s got 2,800 square feet over 5 stories, and has a backyard. It’s currently split into a pair of 2-bedroom residences, but come on, I wouldn’t be touting a beauty like this if it couldn’t be easily combined into one grand home.
In addition to great bones and a historic block, this townhouse also has the essential three L’s of real estate investing as it resides in the Murray Park District (MPD) and is half a block from the park and 2-4 blocks from multiple subway lines that are a quick shuttle into Midtown.
The asking price is [Read more…] about RARE TOWNHOUSE UP FOR SALE ON ICONIC 45TH AVENUE IN LIC
According to The Real Deal, the Falchi Building is about to be sold for $255 million, more than triple the $81 million paid back in 2012 by current seller Jamestown Properties. Upon purchasing the building, located near the 33rd St. 7-train station (and two blocks from City Ice Pavilion), Jamestown converted it from the old-LIC mode – storage/distribution, to office space. They were the first to do it in LIC, and subsequently numerous others have followed suit.
Evan Daniel, who heads Modern Spaces commercial & investment property group, has heard from sources that Jamestown spent between $13-$15 million in capital improvements to bring the building up to date. Even including those costs, Jamestown’s timing and vision were pretty [Read more…] about FALCHI BUILDING SOLD FOR TRIPLE PRICE PAID IN 2012