Long Island City is a residential and commercial neighborhood located on the western tip of Queens, New York.
Long Island City is bordered by Astoria to the North, East River to the West, Hazen Street, 49th Street and New Calvary Cemetary in Sunnyside to the East and Newtown Creek to the South (which separates Queens from Greenpoint, Brooklyn).
The mere buzz of tech giant Amazon possibly deciding to put a headquarters campus in Long Island City created a condo gold rush. Now that Amazon has made it official with their new headquarters to be built in the area of Vernon Boulevard and 44th Drive, the excitement is real and the future looks bright for LIC Queens and New York City.
Amazon has agreed to donate space on its campus for a tech startup incubator, for use by artists and industrial businesses, donate a site for a new public school and will also create “infrastructure improvements” and green spaces.
Amazon’s move to LIC Queens will bring more than 25,000 jobs and it expects to invest $2.5B in the LIC headquarters which will encompass 4M square feet of office space with a possibility of expanding to 8M square feet.
Jeff Bezos, founder and CEO of Amazon said”we are excited to build new headquarters in NYC and Northern Virginia”. “ These two locations will allow us to attract world class talent that will help us to continue inventing for customers for years to come”.
Amazon will occupy 1M square feet of office space at One Court Square as part of it’s plan to open it’s new headquarters in the neighborhood. Also part of Amazon’s plan to build their new headquarters is to purchase more than 295,000 square feet of LIC waterfront property from Plaxall, a plastics manufacturer.
Amazon’s choice of LIC will mean rising real estate values, many new development opportunities, new parks, restaurants, bars and other amenities in this somewhat gritty area.
The Condominium market in Long Island City is robust with values skyrocketing since the news about Amazon new HQ coming to the area. In addition to the residential market, other property types in the area, be it commercial, mixed use or industrial will undoubtedly experience an uptrend in values.
Some examples of today’s asking prices for real estate in Long Island City are as follows:
For Condominiums, a 475 square foot, 2 room studio with 1 bath, asking is $570,000, for a 439 square foot, 1 room studio with 1 bath, asking is $610,000, for a 551 square foot, 2 room studio with 1 bath, asking is $720,000, for a 665 square foot, 3 room, 1 bedroom and 1 bath, asking is $800,000, for a 755 square foot, 2 room, 1 bedroom and 1 bath, asking is $835,000, for a 661 square foot, 2 room, 1 bedroom
and 1 bath, asking is $950,000, for a 929 square foot, 2 bedroom and 2 bath, asking is $1.080M, for a 1,089 square foot, 5 room, 2 bedroom and 2 bath, asking is $1.185M, for a 762 square foot, 3 room, 1 bedroom and 1 bath, asking is $1.248M, for a 1,292 square foot, 3 room, 1 bedroom and 1 bath, asking is $1.295M, for a 1,400 square foot, 8 room, 2 bedroom and 2.5 bath, asking is $1.399M, for a 1,215 square foot, 4 room, 2 bedroom and 2 bath, asking is $1.490M, for a 1,310 square foot, 3 bedroom and 2 bath, asking is $1.575M, for a 1,500 square foot, 6 room, 3 bedroom and 2 bath, asking is $1.650M, for a 1,517 square foot, 5 room, 3 bedroom and 2 bath, asking is $1.850M, for a 1,585 square foot, 5 room, 3 bedroom and 3 bath, asking is $1.899M, for a 1,402 square foot, 5 room, 3 bedroom and 2.5 bath, asking is $2.075M, for a 1,401 square foot, 5 room, 3 bedroom and 2 bath, asking is $2.150M, for a 2,050 square foot Penthouse with 6 rooms, 3 bedrooms and 3.5 baths, asking is $2.550M and for a 1,443 square foot, waterfront, 2 bedroom and 2 bath with a 716 square foot private terrace, asking is $2,998M.
For a Condop, with 700 square feet, 3 rooms, 1 bedroom and 1 bath, asking is $450,000, for a 863 square foot, 3.5 room, 1 bedroom and 1 bath, asking is $499,999, for a 3 room, 1 bedroom and 1 bath, asking is $535,000, for a 730 square foot, 3 room, 1 bedroom and 1 bath, asking is $630,000, for a 4.5 room, 2 bedroom and 2 bath, asking is $750,000, for a 794 square foot, 4 room, 2 bedroom and 1 bath, asking is $775,000 and for a 1,050 square foot, 5 room, 2 bedroom and 2 bath, asking is $815,000.
For a 2 family house with 4 bedrooms and 2 baths, asking is $1.288M, for a 2,376 square foot, 9 room, 6 bedroom and 2 bath, asking is $1.6M, for a 1,950 square foot, 8 room, 5 bedroom and 3 bath, asking is $1.750M and for a 9 room, 6 bedroom and 2.5 bath, asking is $1.825M.
For a 3 family house with possible development potential, asking is $2.6M.
For a Mixed Use building with 1 commercial space and 19 residential apartments with 22,369 square feet, 27 bedrooms and 22 baths, asking is $16.9M and for a 2 mixed use buildings package with 7 apartments + 1 store and 3 apartments + an office, asking is $5M.
For a corner Commercial building with 5,000 square feet, asking is $2.750M.
Subway service to and from LIC consists of the E, M or R trains to Queens Plaza, the N,Q or 7 train to Queensboro Plaza, the G train to Court square, the E or m train to 23rd Street Ely Avenue or the 7 train to 45th Road or Hunterspoint Avenue.
Subway service to Astoria consists of the N or Q train which makes several stops in this neighborhood.
Ferry service to Manhattan is 2 stops, Hunter’s Point South and the LIC stop.
LIC has some good schools. They are:
Riverview School located at 1-50 51st Avenue. Serving grades K-8.
P.S. I.S. 78 Elementary School located at 48-09 Center Boulevard, serving grades PK-8.
P.S. 112 Dutch Kills located at 25-05 37th Avenue, serving grades PK-5.
P.S. 111 Jacob Blackwell located at 37-15 13th Street, serving grades PK-8.
Growing Up Green Charter School located at 39-27 28th Street, serving grades K-7.
Hunter’s Point Community Middle School located at 1-50 51st Avenue, serving grades 6-8.
Information Technology High School located at 21-16 44th Road, serving grades 9-12.
Robert F. Wagner Jr. Secondary School For The Arts and Technology located at 4707 30th Place, serving grades 6-12.
Middle College High School located at 3101 Thomson Avenue, serving grades 9-12.
International High School located at 45-35 Van Dam Street, serving grades 9-12.
Newcomers High School located at 28-01 41st Avenue, serving grades 9-12.
Long Island City has some good restaurants such as:
Maiella located at 4610 Center Boulevard, an elegant waterfront Italian restaurant.
Casa Enrique located at 5-48 49th Avenue, serving refined Mexican classics and cocktails.
SHI located at 4720 Central Boulevard, an upscale Pan Asian eatery in a high rise restaurant with skyline views.
Blend On The Water located at 4540 Center Boulevard, a restaurant & lounge featuring gourmet Latin inspired food and cocktails.
LIC Market located at 21-52 44th Drive, an intimate market/eatery and natural wine and beer bar serving local and artisanal fare.
Crescent Grill located at 38-40 Crescent Street, serving farm to table food and cocktail options and gallery for local artists.
Mu Ramen located at 1209 Jackson Avenue, serving Japanese noodles and appetizers by Per Se vet. Wine and beer are also served.
Kavala Estiatorio located at 10-07 50th Avenue, an intimate candlelit Greek restaurant serving Greek cuisine with a modern flair.
Café Henri located at 1010 50th Avenue, a quaint haunt specializing in crepes and other classic French plates.
Jora located at 47-46 11th Street, an elegant Peruvian eatery and cocktail spot.
Cyclo located at 5-51 47th Avenue. Serving contemporary Vietnamese cuisine.
Levante located at 26-21 Jackson Avenue, serving Neopolitan pizzas & pastas in an exposed brick and chic tile work décor.
Anna and Jeff are proud to announce their new affiliation with Mr. Justin Vance, who has joined Accord Real Estate Group’s Commercial Division. Mr. Vance has 7 years of experience and a track record of great results in the Miami, Florida Commercial and Industrial Real Estate markets. Mr. Vance will focus his attention on the Queens neighborhoods of Long Island City, Astoria, Sunnyside and select Brooklyn neighborhoods.
If you are interested in selling your property or you know someone who is planning to sell their Queens New York property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, co op or condo, vacant land or a development opportunity, call us. You will be very happy that you did.