Sky View Parc - Tower 1

Pros is you will get a big return within 3-6 years since the land value of flushing is going up and up!
Cons is you have to wait 3-6 years for the bug return.

At $650 - $700 per sq ft, you won't be making much money. But I agree with klineshy01 that land value in Flushing is rising so you will likely not lose any money. The main Pro is that you will get a lot more bang for your buck compared to Manhattan. The main Con is that Flushing has already become way too overcrowded. Personally, it's not for me...

Big return???? Across from a project haha

Make sure to schedule open houses on days when planes are not approaching from the expressway.

Personally I think it is better to buy a house in flushing - you own the land and there is a better chance of appreciation. I think Sky view parc upside is okay if you are planning to live there. I dont think renters in flushing will pay up to live in that building.

The site’s strategic location in Flushing, one of the fastest growing submarkets in New York City because of a burgeoning Asian population and excellent transportation connections to Manhattan, has already piqued the interest of the investment community

As a resident, I want to chime in that the people who lives here absolutely loves living here. It is truly a great place to live. It's far enough from flushing that you don't feel it but close enough to walk a few blocks to its many great restaurants. If you're looking at this as a purely investment perspective, it remains to be seen how well it does and only time will tell.

MattThompson, as a former house-owner, I disagree about "owning" land. Rather the land owned me. Sidewalk repairs, shoving snow, getting fix it ticket for an extra foot of pavement on my driveway, and false 311 complaints from a deadbeat tenant did not make me feel like I've own anything.

SPC, sorry to see you're still hanging around on the sideline. Anyways, like I said, nice place to live. But if anything, the rising tide lifts all boats. The cheap money being handed out by the Feds as part of quantitive easing will only lead to one conclusion: inflation. Prices for hard assets such as real estate and commodities will rise. So prices will inevitably go up because of this. I'd say even if you don't buy at Sky View, you should look into buying something, somewhere.

are there any condos still on the market?

nyoneway - I got off da sidewalk long before the current inflated prices. I decided to "invest" in the city instead. I was actually in Flushing to get a foot massage last week. Really enjoyed the $20/hr rate but not the 40min journey back to the city. Looking to invest in another unit and I would take Forest Hills over Flushing any day... But that is just "MY" own personal preference. And puleaseee don't get me started on the economic cycle. I am an economist by trade. Just because we're out of the trough... doesn't mean that that there will be a rising tide during the recovery phase. I highly suggest everyone to read up on Japan's lost decades.

The 7 express train during rush hours will take 25 mins from Manhattan to Main st

SPC, I sort of missed your point about Japan's lost decade. By any measurement, we have a long way to go (up) to be in the same park as Japan in the 80's.

Going long or short is about timing. You can be right about the eventual outcome but the market can disagree with you for a long time.

I don't expect the general population to understand that the economics is similar to the media entertainment industry. There is a common slang used within the finance, accounting, and economics called "fake-outs". In layman's term, statistics are often manipulated to illustrate a brighter picture than reality. A simple example is the unemployment rate. Politicians would like you to believe that all their hard work has led the rate to decline from ~10% to 7.5%. However, they fail to disclose that civilian labor force participation rate has declined 2.7% during that same period. One of the major drivers of decline is the fact that unemployed civilians actively searching for jobs give up as time passes by without any success in landing a new job. If we were to take the same number of civilian labor force participation rate as when the downturn began, the unemployment rate would be in the dismal mid-11's. Other fake-outs include the stock market, with the DOW hitting all-time high above 15,000. RE brokers would convince the buyers to jump on the recovery bandwagon before it's too late. Fact is the market dynamics is not the same as it used to be in the past. Nowadays, it's not uncommon to see the DOW take a 500 pt nose dive in a single trading day. A fact... 9 out of 10 worst single-day declines of the DOW took place since 2000.

I understand that NYC is a special city that attracts investors that other cities may not. It can easily fool buyers to think that NYC defies the law of supply & demand. But in the long-run, all these "fake-outs" will surface and fair market prices will prevail.

If Sky View is your new home, then hats off to you and I sincerely wish you happy and safe living. It is the nicest condo development in Flushing (for now) But I have an issue with people posting claims that prices will rise without stating any facts. Based on my research, I certainly don't believe that new buyers at Sky View will lose money but I don't expect them to make money either... Do your research and don't get caught in the "fake-outs"!!!

You highlighted a few things which I agree with, for one, that the market is irrational and we're experiencing a economic period unlike any other in the past. It's no secret that the real unemployment rate is >10% and the real inflation rate is probably on the higher end of the 5-10% range. As long as you have a willing govt continuing to pump trillions into the economy via social freebies (eg infinite extension of unemployment benefits) and cheap debt, the tide (or bubble) will continue to rise. When will this stop? My opinion is that it won't at least not anytime soon. The seemingly relentless printing of fiat money serves 2 purposes, 1. drives the cost of exports down and increase the cost of imports which helps increase the demand for locally manufactured goods, and 2. a hidden tax without increasing the effective tax rate. This is becoming the new economic policy employed by the all the major currency govt including the US, EuroZone, Yen, China. In another words, Inflation is here to stay.

As for Fake-Outs, in respect equities (ie short term investments), you'll make money as long as you time your hand correctly.

Also, l feel we have veered off of the original issue. I think Sky-View will likely not do worse or better than the average manhattan market; as evident by Sky View has been the hottest selling property this year (don't know if this is a fact but by my own assessment). It's already 90% sold. Supply has already been dwindled, so perhaps prices may tick up at some point.

Hats off to you if you can afford the red-hot high end market which is where the money has been going.

In 2015-2016, someone here may say "Oh Shxx, I should buy it in 2011! Now is too late! everything are beautiful now! I missed the chance again! That's why I am poor!" That's it, just wait and see.

http://www.nydailynews.com/new-york/queens/flushing-commons-construction-start-fall-article-1.1285595

People moving to Flushing are new immigrants. Most of the wealthier individuals still prefer other areas (Long Island, Forest Hills, etc).??? Really??? 15 years ago, I may agree with you. But today 2013, most immigrants from China are rich already, they want to live an asian world city, flushing is buidling what they want now.

Hats off to you if you are still sleeping!

WOW, I just heard that the new design of Skyviewparc II is coming this winter, it will be more luxury and Hi-Tech. It will look like a building similar to Hong Kong or Singapore style. It will be the first main special landmark in Queens or in the whole NY State, I can't wait to see it.