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Retail Space in LIC New Buildings

Started by Junniper89
about 17 years ago
Posts: 20
Member since: Feb 2008
Discussion about
Over the last few months several new constructions have closed and buildings are now alive with tenants. however, all the reatil space remains vacant. Anyone know what the heck is going on? Developers must be trying to get those spaces leased... is it possible no one is biting at all? Or, is there some master plan not public yet?
Response by dco
about 17 years ago
Posts: 1319
Member since: Mar 2008

Once price meets demand then you will see movement. Until then get use to them remaining vacant.

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Response by LICComment
about 17 years ago
Posts: 3610
Member since: Dec 2007

Are you asking about the retail spaces in the condo and apartment buildings? There are a bunch of places planned to open once the spaces are ready. Check www.liqcity.com - that site does a good job rounding up the retail happenings in LIC.

dco - I was hoping you wouldn't be so negative after your long time away!

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Response by dco
about 17 years ago
Posts: 1319
Member since: Mar 2008

LICComment- Yes I'm still negative. But on this topic I just gave an answer that is based 100% on fact and can't possibly be debated. I'm I wrong to say that a piece of property is worth what someone is willing to pay for it? That's all. Nothing against LIC. That theory stand for everywhere. Unless of-course I have missed a change in how the world works during my absence.

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Response by LICComment
about 17 years ago
Posts: 3610
Member since: Dec 2007

But there are businesses opening in these spaces - 10-50 Jackson, Avalon 2, the new building on 5th and 50th, and I believe 10-63 Jackson all have businesses lined up to open once the space is ready. I think one of the Queens West buildings also has a tenant ready to go. Other spots along Vernon are also opening new retail. I think you jumped the gun on your comment a bit.
I'm still glad you're back, buddy.

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Response by dco
about 17 years ago
Posts: 1319
Member since: Mar 2008

LICComment- I don't think I jumped the gun at all. I was responding to Junniper89 statement about is observation of retail space. Those place's that you listed, I would bet all my savings (or there of) that they fit exactly into my response to Jinnper. The tenant and owner both agree that the place is worth what they agreed on. If it wasn't one of them would have walked away. That's all. Nothing about LIC not being worth the investment. This process takes place everywhere real estate exists.

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Response by dco
about 17 years ago
Posts: 1319
Member since: Mar 2008

LIC- I posted asking if you went to Manetta's yet? I also went to Masso the other week and it was very good.

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Response by LICComment
about 17 years ago
Posts: 3610
Member since: Dec 2007

Junniper asked why the retail spaces are vacant if residential tenants have moved in. Your response would make you think it was because there were no retail tenants willing to pay the rents. I think it is more likely that the developers finished the residences first, to close on the apartments, and the retail spaces had to wait to be built out.

I responded on the other thread about Manetta's. Can you believe I still haven't been there? I went in once but they were having a private party. I definitely plan to try it out.
I like some of the dishes at Masso's - it's a good place. I ate at Tournesol recently and it was excellent.

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Response by dco
about 17 years ago
Posts: 1319
Member since: Mar 2008

Ok perhaps we just missed each other on the points about Jun's question. No harm. I'll have to try Tournesol. What kind of food is on the menu? Steaks/Chops, pasta, fish...?

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Response by LICComment
about 17 years ago
Posts: 3610
Member since: Dec 2007

Pretty much. It is very traditional French fare, and the sauces amazing.

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