Tag Archives: long island city

CONDO CRAZY IN LONG ISLAND CITY?

Not too many condos along the waterfront

YOU’VE undoubtedly heard that condos in LIC are selling like hot cakes and Open Houses are jammed post-Amazon.  There’s probably some hyperbole in there – that’s the news business (and real estate brokers) – and it’s important to remember any mention of tripling and quadrupling is off a very low base.  Yet for all the obvious reasons purchasing property in Long Island City has become the topic du jour month in NYC and worldwide.

Which is why I was attracted to a building in Astoria, which is located almost as far away from Long Island City as one can be in that adjacent neighborhood.  The listing that caught my attention is Continue reading

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AMAZON HQ2 IN LONG ISLAND CITY, GOOD DEAL OR NOT?

Reactionary? Yes. misguided maybe, redirected for sure

Reactionary? Yes. Misguided? Maybe. Redirected? For sure

Since it cost a lot to win
And even more to lose
You and me bound to spend some time
Wondering what to choose

I have read the 32-page Memorandum of Understanding (MOU) between Amazon and NYC/NYS.  I have read most of what others have written on the HQ2 deal and incentives. I am a financial analyst by training.  Most importantly, I have lived in Long Island City for ten years and have closely tracked all that goes on here, both economically and non.  Despite all these attributes Continue reading

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AMAZON CHOOSES LONG ISLAND CITY FOR HQ2!!!

Amazon has chosen Long Island City as one of the two locations for its second headquarters according to The New York Times. Crystal City, Virginia on the outskirts of DC will be the other. Each location is expected to add 25,000 workers over the next few years, and be transformed in the process.

What that transformation will look like for LIC and how it will proceed is unknown at this time, but it is believed that the state and Governor made many concessions and offered many incentives to lure the company.

We have been covering the possibility of this happening from the moment the initial bake-off was announced with 40 candidates. Obviously Amazon felt as we do that Long Island City was the primo location for being a part of NYC – the greatest city in the world – they just had to go through the whole process I guess. In addition to all the wonderful attributes of LIC, it also had the logistical advantage of being near Amazon’s biggest customer, my wife.

Amazon Plans to Split HQ2 in Two Locationsinterestingly, when push came to shove they tossed that whole ‘affordability’ criteria right out the window by choosing NYC & DC

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$180 MILLION DEDICATED TO LIC BY NYC, WHY NO BRIDGE?

SO, the city made the announcement today that “Long Island City, New York City’s fastest-growing neighborhood, will get a $180 million infusion of capital to build and improve schools, streets and parks.”  Before you get too excited note that $95 million of it will be spent on sewers, $60 million on a new school that had already been announced, $10 million on street improvements – all of which are necessary infrastructure for the fastest growing neighborhood in the U.S.  That leaves $15 million for parks, so maybe a better headline is “City Allots $15 million for Long Island City Parks.” Continue reading

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WHAT’S WRONG WITH RETAIL IN LONG ISLAND CITY?

Of course then there's...

Of course then there’s…

And if you say to me tomorrow,
Oh what fun it all would be
Then what’s to stop us, pretty baby,
But what is and what should never be

Given all the empty storefronts, anyone walking along Vernon Boulevard might wonder how Long Island City is the fastest growing city in the nation.  Of course excessive retail vacancies abound through many stretches of Manhattan as well, and “retailing” as a concept is under siege nationwide due to Amazon.

One of the problems lies with the entrepreneurs who start these businesses. Continue reading

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CITYLIGHTS TAX SAGA, TWO LESSONS FOR ALL LIC CONDO OWNERS

Meals on Wheels making its daily delivery to Citylights

Meals on Wheels making its daily delivery to Citylights

Just as the tax abatement for the Citylights Building was about to start rolling off, NYC boosted the buildings assessed value by 87%.  For good measure they tacked on another 5% this year.  The near doubling in possible tax payments has the co-op’s residents looking at a 50% increase in already steep monthly maintenance over the next five years, which if implemented on this tower of over 500 units will force out many residents who can no longer afford to live there.

You can read the story below for more details.  Instead I’d prefer to focus on two takeaways that all apartment owners in Continue reading

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SNOW DAY LONG ISLAND CITY

Snowman Pepsi Sign

On Day 2 of the new season, I really really wanted to write an Ode to Spring, with sonnets and poems and crocuses and newborn foals running free in Gantry Park.  Instead we got a SNOW DAY!!!  Sure, I’m now a grown getting paid by the hour word, but when our Mayor waved his magic wand I felt obliged to obey.  So instead of ballads and verse, I offer ye a limerick Continue reading

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LONG ISLAND CITY 2018 RESTAURANT ROUND-UP

LIC now has a Restaurant Row, or corner anyway

LIC now has a Restaurant Row, or corner anyway

Last year’s ‘it’ food was poke, which came and left Long Island City with barely a trace. Crabs have vanished too.  In previous years I speculated baby food and roadkill might gain traction in LIC.  2018 looks to be Continue reading

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A MOVEMENT HAS BEGUN IN HUNTERS POINT

Thank you Brent, please place Rec Center right here.

Thank you Brent, please place Rec Center right here now

A movement has begun for a Rec Center in Hunters Point.  Spearheaded by Brent O’Leary, President of the Hunters Point Civic Association, and Eric Malinowski, a local father of two, the tandem, with backing from several other neighborhood organizations, has created an online petition calling for a recreation center to be included in any large development granted a rezoning or variance (Aka #1 Anable Basin; #2 Water’s Edge).  The petition cites many Continue reading

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KIDS HIP-HOP CLASS(ES) COMING TO LONG ISLAND CITY

Coming soon to your town

Coming soon to your town

Were you upset that the Jessica Lang Dance Studio never came to fruition in Long Island City?  Well here’s a substitute Continue reading

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