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The Industry
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I have been to this building for a couple of times. Was interested in the location - multiple subway lines. and like the K line a lot. My concern is for the potential of this area, would it be comparable to the waterfront area? also, i am running a risk to have to wait for this new building to meet the mortgage requirement. since there is no sales data yet, i am not quite comfortable to putting up an offer.

any opinions from you guys?

LIC is the next Williamsburg. Buy now or be priced out forever.

agreed

I really like the building itself, great finishes, great layouts and appropriately sized amenities. The construction looks really professional. But I'm also iffy on the location. I just don't know if this is an area I want to walk my dog at night. It's relatively deserted, with a lot of commercial/warehouse buildings. The retail includes: palace fried chicken and Ctown. And it's right next to a high school - a pretty low ranking high school too. I've lived across the street from a high school in queens before and really don't want to do it again.
Other smaller drawbacks include: somewhat high maintenance, lack of a vent/microwave, kitchen appliances are all different brands (samsung fridge, blomberg dishwasher, kitchenaid stove).

Re: location. This area is not comparable to Hunters Point/LIC Waterfront. It's fairly dead at night. Having the 7, E and M subway lines (the G is pretty much useless) nearby may bring more development to that area of LIC in 10 years.

Does anyone have any updates on this place? I'm interested in this place but it doesn't seem like they are closing on any units.

thoughts on the building? Seems like a quality development, and I heard sales have picked up recently. Not too familar w/ the surrounding area though, does seem like it has potential....

i say wait until they either lower the prices or offer incentives again like paying for closing costs bc it still seems overpriced to me.

Does anyone hear the sponsor can rent up to 85% of the units and only must sell 15%?

After months of searching in Manhattan and Brooklyn, I'm close to making an offer at The Industry. But I'm concerned about paying premium prices for units that don't merit them. The common charges are what really puzzle me. There's a nice but small and easy to maintain rooftop terrace, a doorman and a poorly lit gym that's incredibly tiny and has a couple of substandard cardio machines (no real weight machine, as far as I remember). And common charges are $550-600 for a 1-bedroom. Does that make sense to anyone? I've seen plenty of nicer condo buildings in more developed areas (Park Slope, Clinton) that have much nicer gyms and common areas with common charges either under $400 or about the same number with really fantastic amenities. What could possibly justify the charges? Is there a way to get the developers to recognize this and lower the charges?

I am thinking about Industry as well and had the same question about the common charges, especially since the doorman is part-time, only from 7 a.m. or so until around 11 p.m. So what the heck are these common charges funding? They seem unusually high for such limited amenities.

Common charges should go down when (if?) it becomes more sold.

Have there been many sales recently? We are seriously looking at a couple units in the building and are trying to figure out what kind of room there is for negotiation. The building is apparently 45% sold at this point...

Looked at a bunch of stuff in LIC too, first started with all the buildings on or near the water with 'views' but many of them don't actually have views or are losing them to new construction. Checked out Arris and The Industry as well. Seems for commuting to manhattan, the Industry location is frankly better than on the water, the E/M/7/G are all right there. Had same reservations about the location being more remote than on the water, but seems like everything you need is there, Jackson Ave very close and has lots of stores. I've been there in the evenings as well, seems fine and there's lots of foot traffic from citigroup building and the trains. Also, there's a huge Rockrose rental with 700 units going up 2 blocks away that should have good retail on the ground level and broker told me a nice supermarket (Food Cellar? i've been trying to confirm but can't get any info) is going in there. Seems like lots of amenities would spring up near that building with all those people. So am seriously considering. Curious what others think. Seems like great price for 5 minutes from midtown.

nice layouts, i think many have walk in closets, not something you find in the manhattan as often. prefer the waterfront area myself but that's a personal preference.

Food Cellar is indeed a nice supermarket but a decent walk from the Industry if carrying bags. C-Town on the corner half a block away from the Industry if you want to do quick shopping. Food Cellar give you more of that Whole Foods experience with the prices to go with it.

There is definite potential in the neighborhood. The Rockrose building will bring amenities next year - I've also heard there will be a FoodCellar in there or other gourmet supermarket - and the opening of M Wells and the law school in the Fall will bring more people and hopefully with it a good coffee shop or a Duane Reade or something else. Its not like there is absolutely nothing right now - there are several places to eat and go out that are pretty good (LIC Market, Burger Garage, Sage General Store, Dutch Kills, even Court Square Diner can be decent) but its true that the neighborhood is pretty dead at times, especially on the weekend. The transportation links are in my opinion the best part of the neighborhood and the key to future development - its much better than the waterfront with several subway lines and frankly the walk to Queens Plaza isn't terrible either (5 minutes) where you can catch the N/R/Q if needed. And also the walk to the waterfront isn't bad either - about 10 minutes to get to the restaurants on Vernon Blvd. I lived at the waterfront for 3 years and the weekend 7 closures are just annoying - Court Square doesn't have the views but the convenience is there and it can only get better.

I've been looking in this area for a few months, and find that the area near the waterfront seems a bit overdeveloped, and getting more so, in addition to being far from many of the trains. This building seems to hit the sweet spot in terms of transportation access, and I like the fact that there is not a zillion units in the building. I also like that it's surrounded by relatively low rise buildings. It seems like a lot of units have gone into contract recently as well.

does anyone compare this to the one murray park?

Ignored comment. Unhide

I recently attended an open house at One Murray Park. The build quality does not compare to The Industry's. Moreover, I've heard that the developer of One Murray is looking for asking price or something very close to it. However, I spoke to Alena, one of the sales reps at The Industry, who informed me that the building is already sold out.

The Industry is a better constructed building and in a slightly better location than One Murray Park.

Hello Industry!

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