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Business & Real Estate In
Long Island City LIC


lic long island city neighborhoodLong Island City LIC NY runs along the western edge of Queens along the East River. LIC is commutable via the #7, N, E, F and W subway lines. It has a population of about 26,000. The ethnic mix is largely of European and Asian descent with a significant mix of people from other continents making up the balance.

LIC [as it is frequently called] is home to a number of cultural institutions, including the PS1 Art Museum, the Noguchi Museum and LaGuardia College to name a few. There are a number of fine restaurants and good shopping along Vernon Blvd, Jackson Avenue and 21st Street.


Long Island City Retail Space To Rent Or Buy - LIC | long island city retail space buy rent lic retail space commercial space rent buy lic
Long Island City Retail Space To Rent Or Buy - LIC

The Changing Face Of LIC Retail

LIC Partnership Conferences Retailers & Realtors

October 29, 2014 / LIC Neighborhood / LIC Shopping / LIC Real Estate / Queens Buzz. I attended a conference entitled Queens: The New Retail Frontier. The event was co-hosted by the LIC Partnership hosted in tandem with the International Council of Shopping Centers. The International Council of Shopping Centers [ICSC] mission is to advance the shopping center industry and to promote its role in the commercial distribution of consumer goods and services. The LIC Partnership’s mission is to promote neighborhood economic development and a vibrant and authentic mixed-use community.

The meeting was preceded with a bit of networking in conjunction with coffee and bagels. I spoke to an NYC mortgage professional who, in the course of our conversation, provided me with the following informational tidbits.

Construction spending is at an all-time high. The New York Building Congress confirmed this statement and estimated that NYC construction spending will be in excess of $37 billion dollars in 2014 and accounting for more than 130,000 [likely well paid] jobs. This is up from about $32 billion in 2013. This spending has been fueled in part by government spending since hurricane Sandy hit on October 22nd, 2012. According to the New York Building Congress, government spending accounted for half of construction spending in 2012 and is estimated to be somewhere in the 30% - 40% of construction spending in 2013 and 2014.

He went on to say that this construction in NYC was necessary as over 70% of New York City housing is more than 50 years old. I checked and according to Fannie Mae this compares with a national average of 56% of U.S. housing being more than 50 years old. Boston, by comparison, has only 38% of its housing stock built prior to 1960. A non-profit, Eye On Housing, notes that New York, Pennsylvania and Massachusetts are states with the oldest median aged housing in the nation. The median age of the housing stock in these states is estimated to be 57 years old.

And he noted that the cost of land was one of the major issues facing developers / builders. He noted that the cost per square foot in Manhattan was about $500 south of 96th Street and that he had recently heard that the cost per square foot in LIC was $300. He opined that at these prices one could only develop to sell residential space – not rent.

Based on what I learned from this one attendee, I expected this conference to be chock full of usable information. Click here to read the rest of our report on the LIC Partnership & International Council of Shopping Centers conference about retail real estate in LIC.



Affordable Housing In Queens - Hunters Point South | affordable housing queens hunters point south affordable housing lic sunnyside queens
Affordable Housing In Queens - Hunters Point South

Hunters Point South Opens Spring 2015

'Affordable' Housing Applications Begin Mid October

September 29, 2014 / Sunnyside NY / Sunnyside Real Estate / News & Analysis / Queens Buzz. On Monday evening I headed over to Sunnyside Community Services Center to attend the Hunters Point South Affordable Housing meeting. Several years ago the Hunters Point South development was approved by Community Board 2 and subsequently approved by the New York City Council and Mayor. Click the link above to read the earlier report.

The site has been under construction for years, and according to a Related Companies spokesperson at the meeting, the two towers containing affordable housing are to open to residents in the Spring of 2015. Naturally this assumes that all goes according to plan.

Hence on Monday evening, Related Companies representatives in tandem with Community Board Chairman Joe Conley, NY CCM Jimmy Van Bramer, NYS Assemblywoman Cathy Nolan [and NYS Senator Michael Gianaris was scheduled to appear but did not make it] - began the outreach to the community regarding the application process for the low income and affordable housing units in the two buildings.

hunters point south affordable housing aptsAttendance and interest by the community was very high and folks who arrived late were turned away as the Sunnyside Community Service Center was filled to capacity. That said there are two more of these outreach programs scheduled, the details of which you can find in our Things To Do calendar in the Business section. Click these links to gain a broader perspective of the Long Island City Neighborhood in which these units reside, as well as of the LIC real estate market for apts and condos or the Long Island City real estate market in general.

Full Report Contains Slides & Info On Qualification & Application Process For Hunters Point South Affordable Housing Units In LIC & Evaluation Of Affordability Versus Income & Apt Rents In LIC

Click here to read the rest of our report, including a photo slide show of the presentation of Affordable Housing in Hunters Point South in LIC Queens. I left out most of the presentation that dealt with how to set up a Housing Connect Profile and how to fill out the online application as it seemed pretty straightforward and you can also call the NYC Housing Authority [aka NYCHA] if you need help.



LIC Summit:  Business in LIC | lic summit lic photos lic real estate lic business
LIC Summit: Business in LIC

Guiding LIC Neighborhood Evolution?

LIC Summit Conference Takes A Holistic View Of Community

June 17, 2014 / Long Island City Neighborhood / Queens Business / Queens Buzz. I attended the first annual LIC Summit which was held at the Museum of the Moving Image and organized by the LIC Partnership. The conference ran all day, with lectures and panel discussions about all things Long Island City.

The first half of the day included discussions about the film industry and the LIC commercial and industrial real estate market. And the second half of the day included panels on residential real estate, but also on the possibilities of evolving a technology sector in LIC and an end-of-day session dedicated to the ongoing evolution of arts and culture in the neighborhood.

I attended the afternoon sessions to listen to the panel discussions about developing a technology sector in Long Island City, and a panel discussion on how to continue nurturing arts & culture in the LIC neighborhood, as many rents and real estate prices have risen to Manhattan-comparable levels.

Click here to read our report on the LIC Summit & photos.



LIC Real Estate - Long Island City Partnership Real Estate Breakfast | long island city real estate lic real estate queens nyc
LIC Real Estate - Long Island City Partnership Real Estate Breakfast

LIC Real Estate Breakfast

LIC Partnership Breakfast Projects Confident & Competitive Tone

April 23, 2014 / LIC Neighborhood / LIC Real Estate / Queens Buzz. I attended the LIC Partnership Real Estate Breakfast on Wednesday morning at the Con Edison Learning Center in LIC. The past couple of years the event had been held at Court Square Place on 44th Road in LIC, to a standing-room-only crowd. The event attendance continues to grow, and the move to the Con Ed Learning Center made seating possible for everyone in attendance.

The 8 am breakfast is followed by a moderated discussion panel of speakers representing a cross section of LIC real estate investors, real estate managers, retail or restaurant operators and a reporter who covers and is familiar with the LIC real estate market. The discussion provides a mix of perspectives and opinions about what’s happening in LIC.

A conglomeration of LIC real estate commercial, industrial and housing stock is shown in the photo to your right. Quite a number of aspects about it were discussed at the breakfast as recorded in this report.

This year the panel included … click here to read the rest of our report about LIC real estate, including photos of the LIC Partnership Real Estate Breakfast.



New Bridge Over Troubled Water

Kociuszko Bridge Begins Transformation

new kosciuszko bridge queensAugust 11, 2014 / Sunnyside Neighborhood / Queens Business / Queens Buzz. I attended a town hall meeting at the Sunnyside Community Services Center in July where the Department of Transportation presented its plans for the erection of a new bridge over Newtown Creek, replacing the current Kosciuszko Bridge. The Kosciuszko Bridge is the main thoroughfare connecting Queens and Brooklyn.

We were told that this bridge represents the largest infrastructure investment by New York State ever. It's important to note that this statement was made based on total dollars, not the value of the dollars as measured in real terms [meaning a million dollars a century ago was worth far more than $1 million today].

The effort has already begun as the project has been awarded and the companies working on the effort have begun their preparatory work. Actual physical construction of the bridge will likely begin in Spring of 2015. The project will be done in phases. The first phase will be the erection of half of the new bridge alongside the current bridge. Once that is completed, they will tear down the Kociuszko Bridge and move traffic onto the new half bridge. Finally they will erect the second half of the bridge. The new bridge will include bike lanes and will have a far less steep rise than the old Kosciuszko Bridge. A rendering of the new bridge is shown above.

We'll post more, including a photo slide show later this week.


How The Other Half Lives

lic real estate long island city real estateSeptember 23, 2013 / Long Island City Neighborhood / Queens Real Estate / Queens Buzz. I attended a reception hosted by TF Cornerstone in late September to celebrate the official opening of their fifth property. The building had been completed earlier this year and the first tenants had moved in sometime in May. I understand they've rented about 70% of the units, so they've been moving briskly.

I visited a couple of the units for rent, including a studio that started at about $2,300 per month and a two bedroom corner that likely rented for something like $5,000 per month [give or take several hundred]. To those of us who live in Queens, these are expensive units, but to those who live in Manhattan - given the views and amenities - these are good value. Like the headline says : )

We'll have more later today, including a photo slide show, of some of the new properties currently lining the LIC waterfront.


Click to view the Long Island City LIC neighborhood


Long Island City Retail Space To Rent Or Buy - LIC | long island city retail space buy rent lic retail space commercial space rent buy lic
Long Island City Retail Space To Rent Or Buy - LIC

The Changing Face Of LIC Retail

LIC Partnership Conferences Retailers & Realtors

October 29, 2014 / LIC Neighborhood / LIC Shopping / LIC Real Estate / Queens Buzz. I attended a conference entitled Queens: The New Retail Frontier. The event was co-hosted by the LIC Partnership hosted in tandem with the International Council of Shopping Centers. The International Council of Shopping Centers [ICSC] mission is to advance the shopping center industry and to promote its role in the commercial distribution of consumer goods and services. The LIC Partnership’s mission is to promote neighborhood economic development and a vibrant and authentic mixed-use community.

The meeting was preceded with a bit of networking in conjunction with coffee and bagels. I spoke to an NYC mortgage professional who, in the course of our conversation, provided me with the following informational tidbits.

Construction spending is at an all-time high. The New York Building Congress confirmed this statement and estimated that NYC construction spending will be in excess of $37 billion dollars in 2014 and accounting for more than 130,000 [likely well paid] jobs. This is up from about $32 billion in 2013. This spending has been fueled in part by government spending since hurricane Sandy hit on October 22nd, 2012. According to the New York Building Congress, government spending accounted for half of construction spending in 2012 and is estimated to be somewhere in the 30% - 40% of construction spending in 2013 and 2014.

He went on to say that this construction in NYC was necessary as over 70% of New York City housing is more than 50 years old. I checked and according to Fannie Mae this compares with a national average of 56% of U.S. housing being more than 50 years old. Boston, by comparison, has only 38% of its housing stock built prior to 1960. A non-profit, Eye On Housing, notes that New York, Pennsylvania and Massachusetts are states with the oldest median aged housing in the nation. The median age of the housing stock in these states is estimated to be 57 years old.

And he noted that the cost of land was one of the major issues facing developers / builders. He noted that the cost per square foot in Manhattan was about $500 south of 96th Street and that he had recently heard that the cost per square foot in LIC was $300. He opined that at these prices one could only develop to sell residential space – not rent.

Based on what I learned from this one attendee, I expected this conference to be chock full of usable information. Click here to read the rest of our report on the LIC Partnership & International Council of Shopping Centers conference about retail real estate in LIC.



 
LIC Summit:  Business in LIC | lic summit lic photos lic real estate lic business
LIC Summit: Business in LIC

Guiding LIC Neighborhood Evolution?

LIC Summit Conference Takes A Holistic View Of Community

June 17, 2014 / Long Island City Neighborhood / Queens Business / Queens Buzz. I attended the first annual LIC Summit which was held at the Museum of the Moving Image and organized by the LIC Partnership. The conference ran all day, with lectures and panel discussions about all things Long Island City.

The first half of the day included discussions about the film industry and the LIC commercial and industrial real estate market. And the second half of the day included panels on residential real estate, but also on the possibilities of evolving a technology sector in LIC and an end-of-day session dedicated to the ongoing evolution of arts and culture in the neighborhood.

I attended the afternoon sessions to listen to the panel discussions about developing a technology sector in Long Island City, and a panel discussion on how to continue nurturing arts & culture in the LIC neighborhood, as many rents and real estate prices have risen to Manhattan-comparable levels.

Click here to read our report on the LIC Summit & photos.



 
LIC Real Estate - Apartments, Condos & Office Rentals & Sales | lic real estate long island city real estate apartments for rent condos for sale office space for rent & sale
LIC Real Estate - Apartments, Condos & Office Rentals & Sales

LIC Real Estate: New Face of a Changing Borough

Real Estate Development Continues, Spreading North & East

October 1, 2013 / Long Island City Neighborhood / LIC Real Estate / Queens Real Estate / Queens Buzz. I, like many in the borough, have been watching in near amazement at the rapid pace of real estate development in Long Island City. On September 18th of 2013, I attended the Grand Opening of 4545 Center Blvd, the fifth of the six TF Cornerstone buildings to go up along the Long Island City waterfront.

As you will see from the photos in the slide show at the end of the story, the apartments are beautiful. The new high rise is an airy, modern building with amenities, and apartments that have breathtaking views of the Manhattan skyline and the Queensboro Bridge. I saw a studio and corner two-bedroom apartment, which rent for about $2,300 and $5,500 per month respectively – so it’s not only the views that are breathtaking, but the rents as well. Five of the six TF Cornerstone buildings along Center Blvd in LIC are rentals, and only the condominiums in The View [the only building TF Cornerstone named] were for sale.

Click here for a story about LIC real estate including a bit of the history of TF Cornerstone, Rockrose Real Estate and real estate development in the LIC neighborhood of Queens.



 


MTA East Side Access Project - Impact On Queens Real Estate | real estate queens ny real estate astoria lic long island city real estate sunnyside woodside real estate jackson heights corona real estate elmhurst flushing jamaica real estate
MTA East Side Access Project - Impact On Queens Real Estate

East Side Access Project Moving Along

How Will This Project Affect Queens Real Estate?

Queens Real Estate / October 4, 2010 / Queens Buzz. Progress on the East Side Access Tunnel project has been visible in Queens since early Spring 2010. The MTA has been busy drilling a new tunnel under the East River from LIC / Astoria, using the Sunnyside Railway Yard as its staging grounds. The photo to your left shows the view of the new tunnel being built underneath the East River from an Astoria / LIC perspective. The tunnel connects into Manhattan around 63rd Street.

Meanwhile in the Sunnyside railway yards, many of the buildings that once dotted the landscape have been demolished. Thankfully this doesn't include an old train station which has been around for many years [see photos in rest of story / slide show]. They’ve also cleared away a number of old warehouse and garage like structures along 43rd Street between Northern Blvd and 39th Avenue.

Click here to get an update on the East Side Access Project impact on Queens real estate.



Queens Real Estate | Queens real estate queens real estate queens ny astoria lic long island city sunnyside real estate woodside jackson heights queens ny real estate apartments for sale for rent condos co-ops coops houses realtors real estate queens ny
Queens Real Estate

Queens Real Estate

Market Analysis Of Real Estate In Queens

Queens NY / December 7, 2009. This is a report on the Queens real estate market.  The report covers the latter half of 2009. This analysis includes looking at apartment rental prices, as well as condo, co-op and home prices and availability.  This Queens real estate market analysis focuses on the Astoria, LIC / Long Island City, Jackson Heights, Sunnyside and Woodside neighborhoods. While we found these neighborhoods mirrored or trailed many of the national trends, we found some interesting differences, including differences from neighborhood to neighborhood. Click here for our second half 2009 market analysis of Queens Real Estate.



Home Improvement & Construction In Queensoutdoor activities jackson heights elmhurst parks


Banks & Loans In Long Island City LIC & Queensflushing corona parks & outdoor activities


Retail & Shopping In Long Island City LICoutdoor activities jamaica parks


Wholesale & Manufacturing In Queensoutdoor activities & parks in lic long island city


Restaurants In Long Island City LICqueens parks & outdoor activities


Dutch Kill Gentrification:  Restaurants & Real Estate in LIC | restaurants in long island city lic restaurants dutch kills restaurants th4e crescent grill gentrification of dutch kills
Dutch Kill Gentrification: Restaurants & Real Estate in LIC

Dutch Kills Gentrification: Restaurants & Real Estate

The Making Of The Crescent Grill Restaurant in LIC

July 13, 2013 / Dutch Kills LIC / Restaurants in Queens / Real Estate in Queens / Queens Buzz.  Last fall I embarked on a bit of an adventure when Michele Beaudoin of Beaudoin Realty Group [a QB client] introduced me to Daniel and Shaun Dougherty.  She had just sold the brothers a two-story, corner building that had been a Beauty Supplies store along Crescent Street in the Dutch Kills neighborhood of Long Island City.  The Doughertys had plans to convert the building into a restaurant.  Likely the first restaurant of its kind in the Dutch Kills neighborhood of Long Island City.

I went to meet the brothers at the site of what would eventually be their new restaurant.  I was given a tour of the facility while it was still, in essence, a recently vacated Beauty Supplies store.  But not for long ...

Click here to read the rest of the story about the gentrification of the Dutch Kills neighborhood of Long Island City and the making of the Crescent Grill restaurant in LIC.  The story includes information and photos about the design and construction of the renovated building, as well as a review of some of the culinary delights that await those who patronize the restaurant. 



 
A Taste Of LIC 2012 Photos & Story | taste of lic photos long island city lic taste of lic 2012 photos taste of lic in queens restaurants in lic
A Taste Of LIC 2012 Photos & Story

Taste of LIC 2012

Chocolate Factory Produces Another Winner

June 5, 2012 / Long Island City LIC / Restaurants in LIC / Queens Buzz. The Chocolate Factory of LIC has been putting on avante garde theatrical productions in LIC since 2004, and organizing the Taste of LIC since 2005. I’ve attended a couple of them, and the Taste of LIC seems to provide the right blend of scene, scenery and 'tasty' nibbles and drinks .. to keep ‘em coming back.

But let me dally no longer as I take you with me on a journey to about a dozen food and beverage tables where I sampled some of each of their wares. Click here to read the rest of our report and view the photos of the treats provided by LIC restaurants & wine stores at the Taste of LIC 2012.

Click here to read our report and view photos of the Taste of LIC 2012.



 


Government & Employment In Queensoutdoor activities sports forest hills


Queens Employment - Jobs Sectors & Employment In Queens | jobs in queens employment categories and sectors in queens astoria employment lic sunnyside woodside jackson heights employment flushing jamaica ny bayside whitestone employment unemployment
Queens Employment - Jobs Sectors & Employment In Queens

Queens County Employment Bests NYC

Queens is one of NYC’s Top Employment Performers

December 19, 2012 / Queens Neighborhoods / Employment in Queens / Queens Buzz.   Tis the season to be jolly and reflect on what’s happened economically over the past year while contemplating and planning for what lies ahead.  To that end we did a bit of research into Queens current economic trends, specifically in the employment area.

Queens Employment & Economy is Diversified

Queens has a relatively diversified employment base.  Queens County industries include: 1) transportation facilities such as JFK and LaGuardia Airports, Long Island Railroad stations, a network of MTA subways and buses, and a network of federal, state and local roadways,
2) energy infrastructure including two major power plants along the East River,
3) a growing hospitality section including hotels, a large casino, two horse race tracks, a major league baseball team, thousands of small to large retailers,
4) an array of about 2,200 restaurants,
5) a full service construction industry,
6) some light manufacturing and
7) government / social services / education as Queens is home to about a dozen hospitals [both private & public] and over three hundred public schools.

Click here to read our report on employment, unemployment & industry in Queens



 
Queens Library Lawsuit Controversy Reform Bill | queens library trustees fired queens library trustees sue borough president melinda katz nye senators pass queens library reform bill
Queens Library Lawsuit Controversy Reform Bill

Queens Library

September 12, 2014 / Queens Neighborhoods / Queens Issues / Queens Buzz.  Given the ongoing importance and drama associated with the Queens Library lawsuit, controversy and Reform Bill, we decided to create a section dedicated to it so that readers interested in learning more about it, may find a public record of what is happening to the Queens Public Library system.

Click here to read our reports about the Queens Library lawsuit, controversy & Reform Bill.



 

Transportation In Long Island City LIC & Queensqueens parks & outdoor activities


MTA - Service Disruption #7 Subway Line in Queens | mta service disruptions in queens #7 subway line service disruption in queens
MTA - Service Disruption #7 Subway Line in Queens

MTA - #7 Subway Line in Queens

Service Disruptions On #7 Subway Line - October / November 2013

October 11, 2013 / Long Island City / Queens Business / Queens Buzz.  There will be service disruptions on the #7 subway line in Queens during October & November of 2013.

Click here to read our report about the #7 Subway line service disruptions in Queens October / November 2013.



 
MTA - Service Disruption #7 Subway Line in Queens | mta service disruptions in queens #7 subway line service disruption in queens 2013
MTA - Service Disruption #7 Subway Line in Queens

MTA - #7 Subway Line in Queens

Service Disruptions On #7 Subway Line - Dec 2012 - Mar 2013

December 26, 2012 / Long Island City / Queens Business / Queens Buzz.  There will be service disruptions on the #7 subway line in Queens from Dec 2012 to March 2013.

Click here to read our report about the #7 Subway line service disruptions in Queens Dec 2012, Jan 2013, Feb 2013 & Mar 2013.



 


LIC Neighborhood - Long Island City Links

Click on these advertisements for promotions, discounts and coupons by retailers and restaurateurs in Long Island City LIC and nearby Queens.

Click this link to go to the:

Long Island City Neighborhood or LIC Business Directory

Long Island City Real Estate or Events & Things To Do In LIC

Restaurants In Long Island City or LIC Shops & Shopping

Long Island City Maps


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