WHILE the temperature is hot, hot, hot, are real estate sales in LIC not, not, not? Given the continued paucity of local news we ask that question to drum up readers, and also in light of a somewhat erroneous headline out today entitled ‘Queens Priciest Condo Ups Asking Price to $3.9 Mil.’[Read more…] about Pricey Condos in Long Island City, Are They Selling?
The View LIC
EVERY morning I awake at the crack of noon to the worry of whether I will find something truly newsworthy to share with the well read citizens of LIC. Frequently, like many renowned writers, I am forced to conjure something out of an idea: Melville had his whale, Hemingway a marlin, and Benchley a shark. For The Editor it is a butterfly.
Because today the news gods are smiling on me, as I am happy to announce that E&I Deli on Vernon Boulevard has cast off its chrysalis and metamorphosed [Read more…] about E&I DELI RE-OPENS WITH A NU LOOK
Looking to do some home shopping in LIC this weekend? The good news is there are a lot of Open Houses occurring Saturday/Sunday, the bad news is that most of the ones I’m going to mention are super-deluxe …well by local standards anyway, which I’ll define as selling for $2 million or more.
Though this pales in comparison to the “super high-end” of Manhattan1, which usually comes with a lot more square footage, it’s similar in that the inventory for this category has all of a sudden come out of the woodwork.
Some of it was very much intentional [Read more…] about $2 MILLION PLUS APARTMENTS MUSHROOMING IN LONG ISLAND CITY
- which these day’s I’m not sure where that category cuts-off $10, $20, or $50 mil [↩]
This week comes two stories that should give a pretty good indication of where things are headed in the LIC, and NYC, real estate market. First, an article in DNAinfo talks about the increased concessions, in particular a free month’s rent, that landlords are giving prospective tenants. The freebies are up to 19%1, which supposedly is the highest percentage in six years. While the specifics of the numbers are a little nebulous, I have little doubt that the trend is real and that it’s accelerating, or about to. Implied in the story2, is that while reported rents in the city keep inching higher, or at least staying afloat, cracks are starting to appear.
The second story will be the proof in the pudding, or not, for Long Island City. [Read more…] about LIC GLUT?