LIC over 1,000 psf?????

Theres a 500 sq ft terrace....
I'm all for LIC but don't over exaggerate...
900 psf makes sense

There is a also a lot of demand for both anything new and condos. Also, if you do the rent/own calculation around $1000 sqft can make lots of sense still. And there are about three bears on this board.

$2.40 to $7.35.
$2.40 to $7.35.
$2.40 to $7.35.

T plus V $352billion. Sprint $22b. Shaking my head. still looking cheaper than LIC even with a terrace.

Stop taking about how much your money it takes for your wife to have sex with you and I'll stop calling her a whore and stop pointing out prettier whores who charge less.

A little bitter W67thstreet. Prices ARE UP in LIC!!!

"Nothing Else Matters"

So close no matter how far
Couldn't be much more from the heart
Forever trusting who we are
And nothing else matters

Never opened myself this way
Life is ours, we live it our way
All these words I don't just say
And nothing else matters

Trust I seek and I find in you
Every day for us something new
Open mind for a different view
And nothing else matters

Never cared for what they do
Never cared for what they know
But I know

So close no matter how far
Couldn't be much more from the heart
Forever trusting who we are
And nothing else matters

Never cared for what they do
Never cared for what they know
But I know

Never opened myself this way
Life is ours, we live it our way
All these words I don't just say
And nothing else matters

Trust I seek and I find in you
Every day for us something new
Open mind for a different view
And nothing else matters

Never cared for what they say
Never cared for games they play
Never cared for what they do
Never cared for what they know
And I know

So close no matter how far
Couldn't be much more from the heart
Forever trusting who we are
No nothing else matters

"Theres a 500 sq ft terrace....
I'm all for LIC but don't over exaggerate...
900 psf makes sense"

Good catch. I had trouble holding my excitement in, i almost pee in W67th's mouth...

>Stop taking about how much your money it takes for your wife to have sex with you and I'll stop calling her a whore and stop pointing out prettier whores who charge less.

w67 what was your wife's rate for the "thousands who touched her?"

I see a little silhouetto of a man
Scaramouch, scaramouch will you do the fandango
Thunderbolt and lightning - very very frightening me
Gallileo, Gallileo,
Gallileo, Gallileo,
Gallileo ericho - magnifico

But I'm just a poor boy and nobody loves me
He's just a poor boy from a poor family
Spare him his life from this LIC monstrosity
Easy come easy go - will you let me sell
Bismillah! No - we will not let you sell - let him go
Bismillah! We will not let you sell - let him go
Bismillah! We will not let you sell - let me go
Will not let you sell - let me go (never)
Never let you sell- let me go
Never let me go - ooo
No, no, no, no, no, no, no -
Oh mama mia, mama mia, mama mia let me go
Beelzebub has a devil put aside for me
for me
for me

...

Ooh yeah, ooh yeah
Nothing really matters
Anyone can see
Nothing really matters - nothing really matters to me

That dude has issues...

Pee don't do it for me.....

Lookey had I shot my wad on LIC I would never have invested $1mm in sprint at $2.4. Do the math ericho. Take your time.

There's a reason all these old housing bears are ALL IN GRAY and posting bitter post all over the place these days. It sucks watching the bottom EXPLODE out of the back of their ass.

To make them feel better, they throw junk stocks around and hope to catch a few bucks.
They should make a case study for HERD MENTALITY on this board back in 2009-2011. So many followed this idiot into believing that prices will continue to implode and not capitalize on buying the home of their dreams in NYC.

"$1mm in sprint at $2.4"

I invested 2 million on Sprint at 2.39!

ha!

If it makes you feel better...

I invested 900K at 2.41.
*rolling my eyes*

If u had $2mm in sprint why didn't u pump up sprint with twice as many postings as litt ole w67 who only had $1mm? Odd.

But let us rejoice in the fact all of manhattan below $1.5k/psf cost me zero!!!'

W67 can move on up to a larger unit and you ericho can finally move to manhattan, with you $4mm gain on your $2mm investment in sprint at $2.39!

Pls don't bid up my unit!

Oooops forgot the denominator. 2000sq ft.

We are the winners. We made money for doing nutin!

"u had $2mm in sprint why didn't u pump up sprint with twice as many postings"

Because shortly after my purchase i no longer have 2mm of sprint...but 3mm.

There's no need to pump.

That's why i own my own place and you live with your parents.

So let's play this again. This pos LiC condo vs. apple at $390 and sprint at $2.4......

Chk back in 2/3/5/7 yrs. lets see LiC go to $2k psf..... Hahahhahaaaaa

"HOW COULD PRICES BE NORTH OF $1,000+ PSF?!?!?!?!"

Let me get this right... you go with an anecdote and you say "prices".

My my, now we know why your predictions were so off....

Condo units in LIC are generally trading between $800-$900 per square foot. Even The View on the waterfront is selling for under $1,000 square foot.

whoops...

You said prices were NEVER going to go up in housing.
You said NYC prices are down down down..
You said housing is a poor investment..
you said prices will never return to old highs..

BUT prices are BACK to old highs.
Some in LIC, WB and many other NYC areas have surpassed old highs.

STOP TRYING TO 'PRETEND' you are some smart dude on wallstreet. The truth is, you got NOTHING.
NOTHING I SAY!!!

BOOYAH TO THE HOUSING BULLS!!!

cdrm1980,

http://streeteasy.com/nyc/building/the-view-at-east-coast

Just as the BEARS here like to PICK on rock bottom units to gloat, please see unit 909 closed in May.

Unit 909 at $1,048 psf.

A great majority of them closed between 900-1,000. I believe the 1,048 psf is a RECORD high for the building.

SW,
You didn't see the housing bottom.

YES, BIG EFF'N DEAL WITH THE SSO trade. Most seasoned stock market investor saw that bottom, except for the obvious bears here.

Again, you GOT NOTHING!!
NADA!
NI!
PAS!

ericho75, I also live in LIC and I agree with your general theme that prices in LIC have increased dramatically in the last year or so. I closed last fall for under $700 per square foot. That price range is quickly (if it hasn't already) becoming a thing of the past.

CDRM,

Congrats on your unit in LIC. I think in 2-3 years, this neighborhood is going to SOAR in prices.
Disregard what these naysayers here, LIC is here to stay and becoming another strong contender outside-Manhattan option for many. On a psf basis, it will surpass some of the other solid options (Dumbo, WB, Park slope).

ericho75: Thank you. I think as more people discover that access to transportation in LIC (especially by Court Square) is superior to that of other locales and the proximity to Manhattan (one stop on the E,M or R and only 3 stops on the 7), LIC will become even more popular. I personally think prices will increase approx. 15-20% in the next 3 years as amenities are added (new supermarkets, drug stores, etc.) and new rental and condo buildings are completed. I think a large factor driving up prices has been and will be the lack of new inventory expected over the next 2 years or so. In the Court Square area, only a handful of boutique condo buildings are under construction or planned.

Lack of new inventory? Are you serious? They're building inventory for tens of thousands of low-income residents on the LIC waterfront.

Sorry, I was referring primarily to lack of condo inventory.

Folks who want to buy in LIC (and many other parts of the City) are facing and will face a supply shortage in the next couple of years. As for the water front, about 950 affordable units are currently under construction and won't be available until no sonner than late 2014. A total of approx. 5,000 affordable housing units are to be built in LIC over the next several years, one or two towers at a time.

Correct, a whole lot of people and very few new condos for sale.

This is where prices are going guys

this'll be the mother of all pops

It's a shell game ... just make sure you get out in time.

"You said prices were NEVER going to go up in housing."

No, I didn't. Wrong again, tootsie. You're like 0 for 10 this week, and, what 0 for 1000 on this board?

"You said housing is a poor investment.. "

Wrong again. I said owner-occupied RE is not an investment. By definition, it is not...

"you said prices will never return to old highs.."

Wow, wrong again. I said the opposite!

WHOOPS!

"STOP TRYING TO 'PRETEND' you are some smart dude on wallstreet. The truth is, you got NOTHING.
NOTHING I SAY!!!"

Oh, man, now it just looks like you've gone batty. Must be all that frustration from all your lousy picks.

I'm sorry I got it right, and you didn't. But yelling and screaming won't fix that...

"Most seasoned stock market investor saw that bottom, except for the obvious bears here."

Oh yeah, everybody saw it. Right, right.

Of course, you didn't... so that puts you in the WRONG category again...

Man, you're just awful with these calls...

Go find me a thread on here from 3 years ago where you posted a 'REASON' to buy stocks.
Or even defend your decision to GET INTO stocks...

Go find it.

Again, YOU are FULL OF CHIT.

LIC over 1,000 psf and WB over 1,200 psf closings. THOSE ARE FACTS.

Anyone that got into housing in 2009 and early 2010 would had made money. The total gains and comparison to the stock market could be debatable depending on leverage and time frame.

Again, you offer nothing. Never had and never will.

Go pound that tiny chest of yours.

LOL...this unit never even closed...its relisted:

http://streeteasy.com/nyc/sale/834118-condo-50-09-2nd-street-hunters-point-long-island-city

Actually, I just spoke to the listing agent. It went into contract on Monday, May 20th. At any rate, jbnyc is correct that the unit has not been sold.

@cdrm1980... curious to know what it went into contract for...but understand if you can't divulge that info...

Then we can really start the bickering over LIC prices! :)

I didn't ask the listing agent and I doubt he would have told me!

On Streeteasy, it clearly states it went into contract.

"05/20/2013
Space Marketing Shop Listing entered contract"

I was informed it's pretty closed to ask. How do i know? Because it's my backyard homie.

below find the $psf for asking prices (contract price definitely lower)of recent in the powerhouse. of course, the data for the apt 806, cherrypicked by ericho, is throwaway, based on its having a terrace.

net, if one doesnt cherry-pick, LIC has done quite poorly of recent, esp in comparison with wburg. real prices in LIC are down as of the last 4 or 5 years, and well down for those who bought at 2007 peak prices. and for anyone who wants to sell, regardless of when they bought, consideration of transaction costs renders the whole deal a fail.

SAVE Listings in Contract (5)
$1,495,000
50-09 2nd Street #810 3 beds 1,752 ft²
$1,195,000
50-09 2nd Street #806 2 beds 1,131 ft²
$1,120,000
50-09 2nd Street #1009 2 beds 1,473 ft²
$1,095,000
2-17 51st Avenue #615 1 bed 1,285 ft²
$750,000
50-09 2nd Street #414 1 bed 1,001 ft²

can you imagine having paid 800$+psf for an apt in this bldg at peak, as some did?

were you to need to sell now, with asking at 750$psf, and with 8-10% transaction costs?

ouch