LIC Rocking!

And no capital gains tax if it was primary residence.

I'm waiting for Yike to come on here and say...

"Where's the comp?"
"LIC underperforming"

But then there's another recent sale that wasn't so pretty, #806.

"But then there's another recent sale that wasn't so pretty, #806."

I disagree. The unit initially closed in January of 2009 and might have went into contract in the summer of 2008 during it's PEAK bubble days. It closed recently at $1,043 psf which is ABOVE the bubble prices in 2008. $1,043 is still VERY high considering most units that went into contract in 2009 sold for about $500 to $600 psf.

Tell that to the sellers who didn't come close to covering their transaction costs. Plus, the unit has a 550 sf terrace, which skews the ppsf downward. I'm too lazy to look up the contract date, but the listing seems to indicate September, right after Lehman imploded.

Hey Ericho. w67 is on your side. Let's see $2,000psf when w67 unloads his share of 67 condos. At $2K/psf... w67 don't care WTF a C9 IN CPW costs...

100x leverage as a developer... selling to hardworking suckers... I mean "homeowners" with 5% down and 95% gov't backed mortgages at 3%. GOD BLESS AMERICA.

GO TEAM RE!

LIC is rocking because of the chemical processes going on in various substrates beneath the brownfield-abatement Saran Wrap that those EPA condo buildings sit on. Toxic waste has a life, you know, even if you don't, epooro13.

>I'm too lazy to look up the contract date,

Seriously? Too lazy even to use the computer to look something up on the computer?

There's no denying it.
Unit 416 purchased in Spring of 2009 made out with a 47.7% gainer. I'm also certain the owner of this unit didn't have to pay for any closing cost (paid by developer) during that period.

Congrats to them.

So, the bigger question is.

Is LIC under performing since off of the 2009 lows compared to other NYC neighborhoods? I say NO WAY in hell.

The real gains will come in about 2-3 years when development of the Waterfront is complete (or about complete) and the Court Square area is more fully developed.

"I'm waiting for Yike to come on here and say...
"Where's the comp?"
"LIC underperforming"

On a serious note Ericho, it's really kind of hard to get excited about LIC.
It's probably the worst of all the Queens/Bklyn west coast neighborhoods.
If I had to, I'd choose Astoria, Greenpoint, Williamsburg, even Red Hook before LIC.

It's kind of like cheerleading for Tudor City over Sutton Place, east village, etc.

Truthskr10: I disagree. Although a gritty neighborhhood today, the wealth of transportation (particularly in the Courthouse Square area) and proximity to mid-town should allow LIC to grow and develop for years to come.

Re: It's kind of like cheerleading for Tudor City over Sutton Place, east village, etc.

It's more like being the one kid on Halloween who, when everyone else is counting their Snickers and Kit Kats, is happy he got an apple

cdrm1980,I posted 3 years ago that the west coast of bklyn/queens is like a not yet developed kowloon bay in Hong Kong, and in 10 to 20 years will be the same price as manhattan.
But LIC will always be Murray Hill.

Ha!

The same bunch of folks that said Hunter's Point prices will crash below 400 psf?

Yada yada yada. For a bunch of folks that's never even been there, i say BS. If there's no potential, then tell me why companies like TollBrothers, TFCornerstone and AvalonBay throwing massive amount of money into the neighborhood. You telling me you want folks to listen a bunch of knuckleheads on streeteasy forum whom never even set foot on Hunter's Point,LIC over these giant corporations?

hahaa!!

Ha. Haha. Haaaaaaa. Haha. Ha. Ho. Hooo. Ho hummmmm. Hmmmmmm. Zzzzzzzz.

I got an apple! Look guys an apple! And a shiney one too. Uh, cool Timmy.

"Tell that to the sellers who didn't come close to covering their transaction costs. Plus, the unit has a 550 sf terrace, which skews the ppsf downward. I'm too lazy to look up the contract date, but the listing seems to indicate September, right after Lehman imploded."

This is funny.

I think ericho is turning into steve... who once tried to present a stat about the market, and when challenged for his data, he went with where he thought the metric *should* have been.

2.5K shares at $390.... got 2x div chis.. trading at $500. Gonna have some $435 short puts gonna expire....

Gonna be pup $700K on top of $2MM in sprint... 1.5 yrs...

Apple performance < Zillow performance since the date of w67's cherry picked call.

eric plays too many board games: http://www.meetup.com/queens-boardgames/members/18239511/

Now that's just plain mean.

47.7%!!!!!

Now, take that to the bank!

Count burger. How the fk is calling the bottom of a $700B company as it shrinks to $400B cherry picking.

Fk. W67 would've never put $1mm on zillow. Your risk / return profile is way way the fk off. But what would the king of trolls know about finance and reality.

>Your risk / return profile is way way the fk off. But what would the king of trolls know about finance and reality.

Reality is that the actual return of Zillow exceeded that of Apple.

So did tesla. But w67 would have never invested in tesla. Flmaozzz

Reality. W67 bought 2.5k shares of apple. Sold short $435 puts jan 15'.

Made $700k in 6 months. Flmaozzzz. You putz.

>Sold short $435 puts jan 15'.

The $430s were the price at which Yikes sold his shares that he bought in the $390s at your recommendation.

>So did tesla. But w67 would have never invested in tesla. Flmaozzz

Oh, well, any other underperformance measures you want to share with us?

The reality of a troll life dawns on herr burger. Goes ballistic and feels the need to go back to black.....

Huntchester... One more 'friend' on SE.....

W67 got actual $2.7mm in gains that can buy actual real things.... And yes I'm gonna happily sell to 3% mortgages backed by our govt!!!!! Go team RE!