OH my, even with no snow there’s been a flurry of local news that’s come to pass in the last week. To start, as always, is more residential real estate development. There are five short articles on local slightly-off-the-radar projects – which basically means they’re under 30-stories:
6 flrs/94 units in Dutch Kills
A pair of 7-story buildings totaling 80 units in Dutch Kills
9 flrs/30 units in Queensboro Plaza
23 flrs/117 units in Queens Plaza South
15 flrs/99 units in Queensboro Plaza
While the total # of units of these five projects are fewer than say a single Rockrose tower, and while most of these projects are already accounted for in previous tallies of all the residences being added in LIC, these “infill” developments will hasten the lowering of rents in the neighborhood. This is not solely because of the additional supply, which we’ve noted is not much in aggregate, but because of the diversity of offerings and the competitive market they’ll create – versus say the three-player oligopoly on Center Boulevard. But who am I, the owner of a lean-to, to question the rationale of those with the ability to borrow 7-9 figure sums of OPM with zero recourse?
//UNLIKE the majority of Americans, or at least an electoral majority of them, I’m not a big fan of Mac & Cheese. Despite attempts by many a renowned chef to doctor it up and pass it off as haute cuisine in the 21st century, my continental upbringing (aka semester abroad) inculcated me with DNA that has an aversion to pasta not served al dente, and dairy products whose [Read more…] about JANUARY ROOSTERS AND FEBRUARY DELIVERS
