Purves St. LIC

Hate the location and way overpriced for LIC.

But it's still LIC. Their prices will be the first to start falling. Others will follow suit by the end of the year. If they were significantly lower-priced, I'd consider moving there. But I'm talking 30% off. Can anyone explain to me about all the development at Queens Plaza? How can they ask for such prices in such an unattractive neighborhood?!

LIC is grossly over priced. The queens plaza is by far the worst of the whole LIC area. LIC at 400-500 is what is worth in my opinion.

$500k for 1000 sq ft? I'll buy that!

I'm seeing owners asking approx. $3200 for renting their 2 bedroom apts. They can't ask for more. Those who bought a 2 bedroom for >$750,000 in LIC will never be able to break even if they're forced to rent it out.

500K for 1000 square feet?? - where are you getting that from.
Purves is averaging $680psf. 1000 sf will cost you at least $675,000 in that building at current prices.

I agree with DCO 100% on the queens plaza area. We have had some disputes about values in the vernon jackson area but queens plaza/ct square have a long way to go. There are big plans for the area but nothing has been solidified yet.

If you are looking in LIC stay within walking distance of the vernon/jackson stop. at least there you can be guaranteed development in the next few years. Queens Plaza and ct square have no guarantees - my personal opinion is that it will be years before anything significant happens there. The plans look great for redevelopment but in this city I won't believe it until they break ground.

I agree with DCO on this one. That area is not worth more than 600psf.

lobo- I think your advise is right on the money. The Queens plaza area quite frankly is terrible. I would never buy a condo at these prices's 2 blocks from one of the worst housing projects in the city. Not to mention an area with several stip clubs. I love the fact that people see drawing of potential projects and think they are alock and will be there in the morning when they wake up. This is just the opinion of a man who grew up in the area.

VIEW59 is literally next door to a club called Scandals.. how tacky!

As for Purves, one of their units (4A) is asking $520/sq ft (for 1249 sq ft. of indoor space). Listed on street easy at 1300 sq ft asking $649k but 51 sq ft is actually balcony space.

As for both Corcoran and Prudential listing units, Corcoran was the original listing agent and Prudential is listing a few resales. The 2 guys from Prudential purchased 9A in january according to street easy for $770k and are now asking $775k. LOL and good luck guys!