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Any info on EC3 (LIC)

Started by dco
almost 18 years ago
Posts: 1319
Member since: Mar 2008
Discussion about
What's going on with this building? Still not open. I'm hearing given market conditions they are considering partial or total rental. Any INFO.
Response by baabamaal
almost 18 years ago
Posts: 37
Member since: Mar 2008

No info on what they plan to do, though IMHO they'll probably do well with rentals - really well. The market for apt. rentals in LIC (bounded by the water and Vernon from 50th to 47th) is really really strong. The avalon bldgs have no vacancies and the citylights co-op units which go on the rental market fly off quick.
Somehow, I have a feeling that until more amenities become available (and they are slowly) this place will have the transient rental feel to it - which is not bad by any means, but the sense of a community will take its own sweet time to come through.

cheers,

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Response by JT
almost 18 years ago
Posts: 65
Member since: Apr 2007

I had an appointment with sales office two weeks ago. Starting unit price around $1,000+ per sq. ft. for regular units, i.e. no terrace, mid floors. Only limited units available, so they are releasing in stages. Salepeople lacks knowledge of product, community, selling points.... Overall product is very nice, but you need to figure it out yourself. Great tax abatement. I think 20 or 25 years. I met a junior member when the senior guy chatted in his office. I waited 18 months on the wait list, and they give you somebody with zero sales/real estate experience. Compared to the other LIC sales office, these guys are amaterish.

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