A thousand reasons to love Long Island City. Tips: Editor@LICtalk.com
A WAREHOUSE for Valentine’s Day is like a lump of coal for Christmas. Yet that’s the latest property leased by Amazon in NYC. Our path has been set and we’re destined to simply be a consumer market for the largest company on the planet. Meanwhile, last week that company announced that Virginia will get:
[Read more…] about A Warehouse For Valentine’s DaySNOW is temporary, apartment vacancies may stick around a little longer. The Real Deal reports that:
“At Tishman Speyers’ 1,871-unit Jackson Park, occupancy declined from 96 percent in 2019 to 59 percent as of September 2020” and “Rockrose’s 715-unit Linc LIC, at 43-10 Crescent Street, saw occupancy decline from 91 percent in 2019 to 67 percent in the third quarter of 2020.”
[Read more…] about Occupancy Plummets In Two Massive LIC Rental Towers
FLOODING, shooting, the plagues are upon us in LIC. Pestilence anyone? No, that’s been temporarily superseded by Gamestop this week. ((requisite mention for all journalists this week, and if you don’t know, don’t bother)) Yet the real story for the large majority of residents is the increasing evidence of significant rent reductions here in Long Island City. According to a recent report by real estate firm MNS, rents here are down 14.42% year over year. Of course readers of LICtalk won’t find this overly surprising, as that’s the exact percentage we predicted back in May.
[Read more…] about Flooding, Shooting & Rents In Long Island City
SO you’re looking for a long term relationship are you? Well Long Island City has one with the Elghanayan family and the love-fest continued in the past week as both Rockrose and TF Cornerstone announced their latest development plans for the neighborhood. The former is a 19-story, 300-unit tower in familiar territory for this branch of the family on Queens Street just off Jackson Avenue. For most a building this size would be a gargantuan meal, but for Rockrose it’s a mere appetizer in their menu. The only detail I found surprising was their supposedly only paying $13 million for the lots as it seems like a low price to pay for land that can house a building this big.
[Read more…] about Real Estate Mistletoe For Long Island City
TODAY I came across an interesting rental listing on Streeteasy offering a 2br/2ba in Hunters Point for $3,500. It’s located in the Citylights Building which though a little dated and not quite amenity rich as nearby towers, is still very well located across the street from Gantry Park and near the 7 line. ((if commuting becomes important again; and it also has its own tennis court – which is usable now, unlike many others amenities which may or may not be)) It’s also spacious at over 1,000 square feet, and on a high floor with good views and light and a renovated kitchen. ((spacious = for NYC; good views = great views for NYC, pretty good for LIC)). Most importantly it’s only $3,500 a month and No-Fee.
[Read more…] about Priced To Move In Long Island City