This morning Bisnow held their annual Long Island City/Queens Real Estate Event. No revelations were shared and most of the banter was just such, which this late in the economic cycle is not surprising. So we will use it as a jumping off point in regards to a trend in regards to Long Island City real estate that’s been occurring for a few years but has yet to be publicized.[Read more…] about The Waterfront Premium in Long Island City
A 1.75 acre development site in the middle of Hunters Point has hit the market according to Crain’s. The site currently houses an innocuous two-story windowless warehouse, parking lot and small loading bay that a quick google indicates is owned by Fortress Holding NY,
which I assume is the large private equity firm similarly named an art storage facility (ty avid-reader Shelley). As for what might be coming,
Hey parents, the NYS Parks Department is hosting a new basketball program at the outdoor courts on 48th Avenue this May/June for girls currently in grades 3 – 8. Called ‘Queens Rules’ the basic idea behind this program is to get girls comfortable with going to the outdoor courts and playing pickup basketball, while simultaneously creating a universe of girls comfortable with doing so to help reinforce the impetus to get out there.
A five-acre waterfront plot at 44-02 Vernon Boulevard has chosen a developer in a sign that the long vacant site might be stirring according to the trade magazine Commercial Observer. Occasionally referred to as ‘Lake Vernon’ by locals due to it frequently having water pooled in a pit created by reclamation efforts, abuts the northern border of the DOE Building and Waters Edge Restaurant on 44th Drive. This primo piece of land is currently zoned to allow one million square feet of residential, which by my reckoning is way over 1,000 new units. More significantly, the managing partner Bruce Teitelbaum, had pitched a plan in 2015 that would include a pedestrian bridge to Roosevelt Island in return for allowing even more buildable feet.
This plan was hatched prior to: [Read more…] about ‘Lake Vernon’ Waterfront Plot Restarts Development Process
3pm: See update and links below
A reader has shared the horrible news that a bicyclist was killed in Hunters Point this morning. It apparently occurred around 9am on 2nd Street and Borden Avenue when the rider was hit by a car. Per the photo above it looks like a silver Chrysler sedan remained in the cordoned-off accident site. One witness said [Read more…] about Cyclist Killed Near Center Boulevard in LIC This Morning