Long Island City prices rebounded

"Star Tower ran into foundation problems" ... corrosion from the heavy metals and neurotoxins in LIC's good earth.

AH - "Prosperous." LMFAO!

And even try to fight that Steve. I kept up with that stock market thread. You are plain terrible.
No wonder you are a loser.

"Maybe if you didn't come on here trying to knock other peoples' neighborhood and hurling misinformed insults, you wouldn't have been exposed as lacking credibility and speaking about things of which you do not know."

Sorry LICC, but you're really exaggerating your case here. Those are some pretty bunk accusations.

Steve, did you re-buy in the same coop you sold out of? Are units there trading at attractive prices these days?

No, I had a firm offer on the place but nobody would finance it as it happened after Lehman. Only now are deals starting to get done, but the number of banks willing to finance vacation homes is limited. Fortunately, I can afford it just fine - I'm just not the party animal I used to be!

Prices have come down about 10% - 15% from peak, except for people in default and/or the chronically unemployed, of which there are a few. Also some estate sales. But if truth be told, the units never went up in value too much, so that's probably the reason why.

I can't believe Carol doesn't like my grandma's house. It really, truly was, from the time they moved out of the Queensbridge houses around 1963, until around 1970 when my grandmother got remarried.

To her second cousin. Goddamned Italians!

"Prices have come down about 10% - 15% from peak..."

That's about the only thing you have ever gotten right on this board
GD bless you.

"Goddamned Italians!"

What do you have against Italians??? Why you bastard!

Falco
"Sam Kinnison, Bobcat Goldthwait? Where do you get this shit?"

I don't think so either, but I just found the Bcat comparison somewhat insulting.
Don't sell Kinnison short, he was genius.

Kinnison is somewhat in the same "mold" for lack of a better term.
Kinda like Jack Black and Philip Seymour Hoffman. You could basically cast them both in the same roles but no comparison side by side....

"I don't think so either, but I just found the Bcat comparison somewhat insulting."

Why? I think it's entirely apt. Either a) you think entirely too much of west67th based on message board ranting, or b) you think entirely too little of Bobcat. Or a combination of the two.

yep the combo meal.
Kinnison is more intelligent and a controlled rage. Bcat is just a space cadet.

Dub6/7 will often go extreme bear and ocassionally it's ugly but he's got personality.....and personality goes a long way... :)

Agree on the last point, but I've never heard anyone say Bobcat lacks for personality.

"Don't go full retard."

The only thing I have against Italians is I am one. Good enuff?

> If you listen to EddieWilson, I would have been bankrupt before I even began.

Actually, if Steve listened to me, he'd finally realize he *is* bankrupt, he just can't count.
;-)

When steve says he made 30%, he actually means he lost 70% (he just adds 100% to everything, literally). He just has trouble with, you know, math.... but thats the only way he can "make" money.

That one *still* makes me laugh.

“tenemental- you jumped into the discussion on your own with a misleading comparison.”

No, I jumped in with a market report, which is considerably more substantive than your Post article.

“Crescent Club is at Queens Plaza- yes part of LIC but in a very contained area that is not what people consider the neighborhood area of LIC. The Hunters Point section near the waterfront and east through Jackson Avenue up to the PS1 area is the main part of LIC.”

StreetEasy shows eleven LIC new developments east of 21st St., from 41st Ave. to the rail road tracks. I’d hardly call that contained. Then there are five others clustered around an area within a couple blocks of the Pulaski entrance/exit, from which the auto exhaust should be a concern (L Haus!?!?). Maybe the amenities of Jackson Ave take them up a notch, but I can’t imagine they’d be considered neighborhood prime. So, depending on how you parse it, that’s 11 to 16 new developments, between a third and a half of what SE has listed for LIC, that aren’t within what you call “the main part of LIC.”

“Most of the developments in that area have done well and have held up well.”

Why don’t you provide the numbers to prove it, like same-line comps this year vs. last? If they have indeed held up, then the other half of LIC new devs and Astoria must have really taken a beating to account for an overall 9.7% decline.

“Maybe if you didn't come on here trying to knock other peoples' neighborhood and hurling misinformed insults,”

I knocked nothing until you insulted me and accused me of lying, so you have yourself to thank for that. If you weren’t so neurotic you would have taken my compliment of WTB for what it was, not to mention the fact that I said I took a friend biking through three boroughs just to visit the area.

“you wouldn't have been exposed as lacking credibility and speaking about things of which you do not know.”

This from a guy who gives irresponsibly dangerous advice, accuses me of lying when I mention it, and refuses to admit his mistake when I prove it.

“And where do you live that you feel you can judge other peoples' neighborhood as a "dreary, polluted wasteland"? Do you live in Manhattan, because Manhattan is a hell of a lot more polluted than LIC. Do you live in an old tenement building in the East Village? I know those well, and some may consider those apartments to be quite "dreary". Stop throwing stones at other people's homes.”

You know perfectly well where I live, though I’m out of the tenement now. I’ve made plenty of deprecating remarks about both the building and the neighborhood, and if someone came on the board shilling for a condo on Ave D, a co-op on the cul de sac of 5th St. btw B & C, or an East-facing unit at 215 Ave B I would certainly point out the shortcomings, just as I have for the past three years.

You, on the other hand, have been nothing but a neighborhood cheerleader, so please don’t talk to me about credibility, you’re just embarrassing yourself. If brokers are going to shill on message boards and newspapers are going run real estate-boosting neighborhood puff pieces, then a few stones giving potential buyers pause should be thrown.

Falco, how’ve you been!? Hope you and the family have had a great summer, too.

bjw, have a great weekend.

Half of the developments in the market report you cited, by your own assertions, are NOT in LIC. Substantive or not, you lose credibility. Of the 29 new development condos for LIC shown on streeteasy, 22 are in the area I described above. streeteasy lists 34 buildings but 5 are rental buildings. Again, your facts are just inaccurate.

CarolSt. posted lots of examples of recent sales in representative buildings.

Two years ago I said that if the building was in good shape sales-wise, and the rent/buy numbers looked good, it could be a good choice to buy if one had at least a 3-year time horizon. Irresponsibly dangerous advice? Err, sure. You just feel raw because I called you out on your misleading statements so you are reaching for things to critize me on. Obvious.

I really don't know where you live. Why would I? Maybe you feel like criticizing other neighborhoods because you are not happy where you live.

A few ignorant bears make lots of idiotic comments about LIC on these boards, and I come on to correct and counter them, and call them on their BS. Call it cheerleading all you want, I don't care. I'm not a broker.

Try sticking to commenting on your own neighborhood. Have a great weekend!

"Half of the developments in the market report you cited, by your own assertions, are NOT in LIC. Substantive or not, you lose credibility."

I included the full quote that specified LIC and Astoria in my original post. I did not try to present it as anything but, so my credibilty is perfectly intact, thank you.

"Of the 29 new development condos for LIC shown on streeteasy, 22 are in the area I described above."

So you are counting the ones that bathe in auto exhaust and abut the railyard? How are their prices faring, exactly?

"CarolSt. posted lots of examples of recent sales in representative buildings."

No, CarolSt posted PPSF for recent closings in exatly three buildings. There were no comps showing market movement, and it was a very small sampling. However, it was a hell of a lot better than the bluster and silly articles you've been posting.

"Two years ago I said that if the building was in good shape sales-wise, and the rent/buy numbers looked good, it could be a good choice to buy if one had at least a 3-year time horizon. Irresponsibly dangerous advice? Err, sure. You just feel raw because I called you out on your misleading statements so you are reaching for things to critize me on. Obvious."

So you stand by your advice to buy with a 3-year time horizon? I guess it's good that the evidence is on more than one thread that you shouldn't be taken seriously.

"I really don't know where you live. Why would I?"

Oh, I don't know. Maybe because I've mentioning it in posts for on numerous threads for three years, now.

"Maybe you feel like criticizing other neighborhoods because you are not happy where you live."

Cue the line "You just wish you lived in LIC." Man, your repertoire is getting tired.

"A few ignorant bears make lots of idiotic comments about LIC on these boards, and I come on to correct and counter them, and call them on their BS. Call it cheerleading all you want, I don't care. I'm not a broker."

Maybe that's why you're so damned oversensitive. You should know the difference between someone with a legitimate point about the neighborhood and someone who's razzing you. And you don't do much correcting and countering when it comes to market direction. If you did you'd have some figures to post. If LIC has gone up in the last year, then Astoria new development must have experienced a 25% drop or worse. I don't recall any news about such a bust there.

And I love the Socrates Sculpture Garden.

The "main part of" LIC? LIC is huge!

I'm still looking for the nice part of Long Island City, beyond my earliest memories of Grandma.

tenemental- your last post basically had a lot of nothing, other than a few uninformed insults.
Again- who are you to throw comments around about auto exhaust? Does Manhattan not have buildings near the midtown tunnel? Near the FDR drive or the West side highway? Near EVERY STREET in Manhattan that has heavy traffic? Pollution is much worse anywhere in Manhattan than in LIC.

As for railyards, in LIC there are four buildings near them. Arris, Hunterspoint Condos, Foundry and Murano. Arris was one of the first new condo buildings in LIC and probably sold most of its units before the market downturn. Murano just opened sales recently and I don't know how that is. According to CarolSt.'s information above, Hunterspoint Condos and Foundry sale prices have been up.

You can keep trying to misconstrue what I said two years ago, but the whole quote is above for all to see. You are stretching to try to make an issue of it and it is obvious.

As for the market report you posted, you did so to make a point that prices are still down in LIC. So what if you noted that the report also covered other neighborhoods? So you know that your figures are a bad comparison but you felt the need to post them anyway? The buyers in the news article don't seem like brokers. They seem like people that have been looking at places in the area for a while and have seen how the prices have moved. That seems more credible to me than your off-point figures.

And I love the East Village and the Lower East Side.

steve, I'm still looking for the nice part of a dumpy rental building on 8th Avenue and 52nd street.

Then open your eyes, LICC: great nabe, great views, miles from the Newtown Creek. What more could you want? Hepatitis C from the needles at Water Taxi Beach?

Wait! I forgot this: HAHAHAHAHA!

Oh, and I forgot: there are THREE DUANE READES within a 2-block radius!

And a Gristedes 2 blocks away. And a Rite-Aid, and a Food Emporium, and a Hole Paycheck if you don't mind walking a few blocks. Theater, movies, marvelous restaurants lining 9th Avenue, IRT, IND, BMT within a few blocks, Rockefeller Center, Central Park....

Now, I do understand that Central Park is not as much of a Destination as Gantry State, but it's all we have.

So what? You don't have Big Allis.

Big Allis
Big Allis
Goddess of LIC!
With petrochemicals leaching out
Why pay for her 'lectricity?

http://en.wikipedia.org/wiki/Big_Alice

LICC, poems, please.

Hell's Kitchen is just begging for a put-down.

BTW, I'm mad at you for not noticing that tenemental is more complimentary to LIC, and more fair and balanced, than anyone else who has said bad things about it. And, steve, Central Park around Columbus Circle is crowded, noisy, full of obnoxious tourists, vendors, skaters, bikers, joggers.... Gantry Park does not have Hep C infested needles on it, and it is restful. I don't believe anyone who says prices are up in LIC new development condos since 2009, though. PR BS.

lowery, POEMS please!

LICcomm, we'll give you a Headstart.

Here are some key phrases that rhyme, or nearly do:

Big Allis
malice
poisoned chalice

Arris
bare ass / badass
harrass

careful, stevejhx, I might switch back to a complete translation of Swann's Way into streeteasyese prose......... or would that be Hamlet's soliloquy, to buy or not to buy........ or that famous Presidential speech that was so short and pithy....

"tenemental- your last post basically had a lot of nothing, other than a few uninformed insults."

You've had nothing in this entire thread but a link to a Post article and insults. You've offered no evidence to back up its title.

"Again- who are you to throw comments around about auto exhaust? Does Manhattan not have buildings near the midtown tunnel?"

Yes, and if a new development there was being hyped I'd advise against it.

"Pollution is much worse anywhere in Manhattan than in LIC."

I'm picturing the tree-lined streets that make up much of Manhattan and the post-industrial landscape that is most of LIC (oh, but not the "main part") and shaking my head in amazement.

"Arris was one of the first new condo buildings in LIC and probably sold most of its units before the market downturn."

Yes, and if you were one of those unfortunate buyers, I hope you don't need to sell anytime soon:

http://ny.curbed.com/archives/2010/01/11/short_sales_come_in_pairs_at_lics_arris_lofts.php

"Both deals were resales, though there are some sponsor units still available in the building. Here are the stats:

#442: 1BR, 1.5BA, 1,178-square-foot unit bought in July '07 for $775k, ($682k mortgage); sold Dec. '09 for $650k. Listing color: Please see bedroom picture.
#128: 1BR, 1.5BA, 1,077-square-foot unit bought in Jan. '08 for $610k ($549k mortgage); sold Dec. 2009 for $440k. Listing color: "OWNER MOVED - MUST SELL!"

That's a 16% and 28% fall from the first purchase price to the second, not to mention the introduction of the dreaded short sale to the building."

Of course that was 7 months ago, so if you have any figures to show a "rebound" since then, please feel free to post them.

"You can keep trying to misconstrue what I said two years ago, but the whole quote is above for all to see."

You'll be hard-pressed to find anyone on this board who doesn't think your advice was terrible, and yes, they can all see it.

"So you know that your figures are a bad comparison but you felt the need to post them anyway?"

What, you think that someone considering a purchase in LIC should read your ridiculous article and ignore an actual market report? Anyone in that situation would be wise to see that LIC and another nearby neighborhood suffered a 9.7% drop in new development prices YOY (which doesn't even take into account other incentives - have you noticed the free parking spaces and cabanas at the Foundry?), then consider that the article wasn't anything close to objective. Again, how hard hit would Astoria have to be to allow for an increase in LIC?

"The buyers in the news article don't seem like brokers. They seem like people that have been looking at places in the area for a while and have seen how the prices have moved. That seems more credible to me than your off-point figures.""

A broker and a developer are quoted in the article. There are all of 4 people/couples quoted beside them. You think that that makes for a more credible report than Jonathan Miller's research?

"And I love the East Village and the Lower East Side."

I'm glad. I like parts of LIC, and would have kept my other thoughts to myself and talked sales and numbers had you not resorted to insults.

"The "main part of" LIC? LIC is huge!"

LICComment is just scrambling for some footing. First he comes on all wounded and offended that I had something bad to say about any part of LIC, then he reduces his defense to the parts that have been redeveloped, which make up about 20% of the neighborhood. The rest is as I described it.

Yup, and dem short sales: NY is recourse state, so save bankruptcy the bank can come after you for the difference!

tenemental, you are just embarrassing yourself at this point. Picture trees all you want (LIC has those too), you should also picture all the traffic that is on every street in Manhattan. Manhattan has higher pollution and lower air quality than LIC. The stats have been posted on these boards before. Fact.

Since I countered your points and all you can do is try ad hominem attacks, I see the best you could do is take one comment I made two years ago, where I said that if the building is good and the price/rent comparison looks good, and if they had at least a three year time frame (meaning they weren't looking for a short-term flip), it could be a good purchase. You distorted that into me giving dangerous advice that it is always good to buy if you have a three-year time horizon. This is blatantly sad on your part.

I don't know how Arris sales have been recently. Sales from last December were not the point of the discussion.

I think people who are considering buying in LIC should find out about what is happening in LIC, and not make their decision based on Astoria, Sunnyside and Woodside instead.

People who are considering buying in LIC should find out about what is happening in LIC, and make their decision based on Cleveland, Detroit and Toledo instead.

LICC, you have countered nothing, and offered nothing to prove the title of your thread. You've glossed over the steep declines at Arris and can't come up with any figures to demonstrate the price increases you've insisted on, yet continue to make these empty, desperate posts. Who's embarrassed?

I'm embarrassed. You know for whom.

People who are considering buying in LIC should find out what is happening in Astoria, Sunnyside and Woodside. If they'd do that much homework, they'd probably buy there instead of in LIC. It's something about having places to buy groceries, having more than one Duane Reade, having lots of tree-lined streets, etc.

Wait wait -- there's a Duane Reade? In Long Island City? Wow, LIC is really coming up.

"People who are considering buying in LIC should find out what is happening in Astoria, Sunnyside and Woodside. If they'd do that much homework, they'd probably buy there instead of in LIC. It's something about having places to buy groceries, having more than one Duane Reade, having lots of tree-lined streets, etc."

I do like some of the particular spots in those neighborhoods. I like those apartments that circle the gardens. Not for me, but I have friends that moved out and are very happy. Much more of a neighborhood than LIC.

Where are the sub 500 psf prices????

It's been 3+ years already..

Where are the sub 500 psf prices?

Find me a post that states i believe prices will never drop?

You were WRONG and will always be.

WRONG WRONG WRONG.
Your mother having you is WRONG.

and, if CarolSt knew any math, she's know that these numbers are all below $500...

$441/ft²
$446/ft²
$462/ft²
$463/ft²
$464/ft²
$477/ft²
$484/ft²

Is there a psych ward at the Queensbridge Houses?

sure, but its a little above carolst's price level. she's at the one in the cardboard box next to the con ed plant.

believe a shill
buy in LIC
get ill

im back!

so's carol!

aint no pill for that ill!!!

Pencil! You f'ing pencil!

WHERE ARE THE SUB 500 PSF in Hunter's Point, LIC????

carolst just got OWNED. (again)

Bullshit, your mother got owned.

WHERE are the sub 500 psf in hunter's point, LIC???

l haus sold some units under 500psf

"l haus sold some units under 500psf "

Some units? How many? Can you buy it today?

Your right carol, you can only buy at $400psf.

wow, OWNED.

watch her freak out some more.

Yes you can still buy at lhaus for under 500 psf 480/490psf if you want to be at that location

I see Lhaus every day coming back through the tunnel. It is the ugliest building Ive ever seen.
It looks like an abandoned new development with that half the building, faux yellow brick giving the illusion of exposed wall insulation.
It looks like something so toxic, Newtown creek spit it out.

http://www.observer.com/files/full/lhaus.jpg

"Clad in 1954 retro yellow bathroom tile," it should boast.

"It is the ugliest building Ive ever seen.
It looks like an abandoned new development with that half the building, faux yellow brick giving the illusion of exposed wall insulation."

truthskr, I feel the exact same way about the William Beaver condos that I have to see every day. How in the world did anyone think this was a good idea?

fast fwd a few years to see it covered in tunnel soot--too broken financially to pay for a wash

where'd carol go?

carol traded in its real estate license for a poetic license. See other thread.