Comments on: LIC’s waterfront River East Condos still showing signs of life under ice http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice A Blog About Life and Real Estate in Long Island City, Queens, NYC Thu, 09 Sep 2010 17:10:49 +0000 http://wordpress.org/?v=2.8.4 hourly 1 By: condo rentals http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-22839 condo rentals Wed, 25 Aug 2010 08:05:24 +0000 http://www.liqcity.com/?p=14732#comment-22839 Not sure where you heard that theres enough money in the budget to be able to do it without a special assesment because its quite the opposite. There will be some sort of special assesment if they undertake either of the two options. Not sure where you heard that theres enough money in the budget to be able to do it without a special assesment because its quite the opposite. There will be some sort of special assesment if they undertake either of the two options.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-22773 Anonymous Thu, 05 Aug 2010 16:03:32 +0000 http://www.liqcity.com/?p=14732#comment-22773 more development = more services = improved quality of life for everyone _________ Maybe in China. You are living the past, man. more development = more services = improved quality of life for everyone

_________

Maybe in China. You are living the past, man.

]]> By: MyBackYard http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20673 MyBackYard Wed, 24 Feb 2010 19:57:21 +0000 http://www.liqcity.com/?p=14732#comment-20673 Who are you people? The site is closer to the E and V train than any of the existing or proposed RockRose/TF Cornerstone apartments are to the 7 train. Looks like the land is priced at $30 per square foot. The current LIC developments were built on land that sold for $150-$200 per square foot. Have rents dropped so much that this wouldn't work financially? I certainly haven't heard that construction prices are rising lately. more development = more services = improved quality of life for everyone Who are you people? The site is closer to the E and V train than any of the existing or proposed RockRose/TF Cornerstone apartments are to the 7 train.

Looks like the land is priced at $30 per square foot. The current LIC developments were built on land that sold for $150-$200 per square foot. Have rents dropped so much that this wouldn’t work financially? I certainly haven’t heard that construction prices are rising lately.

more development = more services = improved quality of life for everyone

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20662 Anonymous Wed, 24 Feb 2010 16:18:21 +0000 http://www.liqcity.com/?p=14732#comment-20662 The fact that is had all that and was never crowded tells you why it was sold. The fact that is had all that and was never crowded tells you why it was sold.

]]> By: Townie http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20587 Townie Tue, 23 Feb 2010 01:07:37 +0000 http://www.liqcity.com/?p=14732#comment-20587 They destroyed a magnificent sports club--the best thing about living here in the summer, and while it was clearly mismanaged, it should have been a total gold mine. It had it all--a gym, great outdoor pool, a couple dozen tennis courts, two bars, and a restaurant right at the river with a killer view, never crowded except on rental occasions, and all hidden away from the street, and it was affordable...and they even had a discount for, you guessed it, townies. Still sad. They destroyed a magnificent sports club–the best thing about living here in the summer, and while it was clearly mismanaged, it should have been a total gold mine. It had it all–a gym, great outdoor pool, a couple dozen tennis courts, two bars, and a restaurant right at the river with a killer view, never crowded except on rental occasions, and all hidden away from the street, and it was affordable…and they even had a discount for, you guessed it, townies. Still sad.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20529 Anonymous Sun, 21 Feb 2010 13:18:10 +0000 http://www.liqcity.com/?p=14732#comment-20529 One big problem, The land is gone! can't you see from the photo, that the land is gone! How can you build on a site where the land is gone! Meanwhile our tax dollars will pay for repairs to the board of Ed building next door. This land was sold back and forth between the sports facility in some weird deal for $2. and we have been out the most amazing facility for 9 years? while the land has been eroded by a developer who didn't know how to re-mediate? The plans are the same from 9 years ago. He was trying to get 32 million 9 years ago and flip the project. Nothing has changed except their is no land on half of the site to build the project. One big problem, The land is gone! can’t you see from the photo, that the land is gone! How can you build on a site where the land is gone! Meanwhile our tax dollars will pay for repairs to the board of Ed building next door. This land was sold back and forth between the sports facility in some weird deal for $2. and we have been out the most amazing facility for 9 years? while the land has been eroded by a developer who didn’t know how to re-mediate? The plans are the same from 9 years ago. He was trying to get 32 million 9 years ago and flip the project. Nothing has changed except their is no land on half of the site to build the project.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20467 Anonymous Fri, 19 Feb 2010 20:12:36 +0000 http://www.liqcity.com/?p=14732#comment-20467 Best views of the city from this spot would be to the west, not south. I guess whether Durst is involved or not depends on whether the owner can actually pay back the note. Seems like a tall order, but who knows. Best views of the city from this spot would be to the west, not south. I guess whether Durst is involved or not depends on whether the owner can actually pay back the note. Seems like a tall order, but who knows.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20466 Anonymous Fri, 19 Feb 2010 19:34:18 +0000 http://www.liqcity.com/?p=14732#comment-20466 If the developer is looking to hold this project for the long term than it might be a good deal for them. They get to build it today when construction costs are low and rents are doing okay. However, they will have to hold it for at least 10 years to see any healthy returns and this is not unusual for certain investors. I personally would rather see Durst develop it as they are a top tier developer in the city and they have built beautiful buildings like the new BofA tower. If the developer is looking to hold this project for the long term than it might be a good deal for them. They get to build it today when construction costs are low and rents are doing okay. However, they will have to hold it for at least 10 years to see any healthy returns and this is not unusual for certain investors.

I personally would rather see Durst develop it as they are a top tier developer in the city and they have built beautiful buildings like the new BofA tower.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20465 Anonymous Fri, 19 Feb 2010 19:21:26 +0000 http://www.liqcity.com/?p=14732#comment-20465 There's a huge amount of space between this development and the TF Cornerstone (they're not Rockrose anymore at this location) project. Plaxall owns virtually everything between these 2 locations and they're waiting for the TF project to come together, which is stalled due to more cleanup efforts. That's another reason I think this project won't go over so well. The Plaxall deal is going to block potentially a lot of the views south towards the city. There’s a huge amount of space between this development and the TF Cornerstone (they’re not Rockrose anymore at this location) project.

Plaxall owns virtually everything between these 2 locations and they’re waiting for the TF project to come together, which is stalled due to more cleanup efforts.

That’s another reason I think this project won’t go over so well. The Plaxall deal is going to block potentially a lot of the views south towards the city.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20462 Anonymous Fri, 19 Feb 2010 18:28:08 +0000 http://www.liqcity.com/?p=14732#comment-20462 The article says that they secured $241 million in construction financing. The subway situation is less than desirable I agree, but no more or less than other locations in the city. If they are smart they would look for ways to try to connect that site with the Rockrose QW develpoment taking place to the south. The article says that they secured $241 million in construction financing. The subway situation is less than desirable I agree, but no more or less than other locations in the city. If they are smart they would look for ways to try to connect that site with the Rockrose QW develpoment taking place to the south.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20461 Anonymous Fri, 19 Feb 2010 17:26:48 +0000 http://www.liqcity.com/?p=14732#comment-20461 True #2, but I somehow doubt these developers can get the money to develop this location with decent pricing. It's a decent walk to any subway from there and there is no retail except LIC Bar or near the E,V,G subway on 21st and that area ain't booming either right now. True #2, but I somehow doubt these developers can get the money to develop this location with decent pricing. It’s a decent walk to any subway from there and there is no retail except LIC Bar or near the E,V,G subway on 21st and that area ain’t booming either right now.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20460 Anonymous Fri, 19 Feb 2010 17:01:18 +0000 http://www.liqcity.com/?p=14732#comment-20460 I'm not so sure that no one is buying. Quietly inventory is moving - not at the volume and not at the prices that they were in 2007, but good buildings in good locations that set their prices right continue to move their inventory. I’m not so sure that no one is buying. Quietly inventory is moving – not at the volume and not at the prices that they were in 2007, but good buildings in good locations that set their prices right continue to move their inventory.

]]> By: Anonymous http://www.liqcity.com/new-development/lics-waterfront-river-east-condos-still-showing-signs-of-life-under-ice/comment-page-1#comment-20456 Anonymous Fri, 19 Feb 2010 16:36:14 +0000 http://www.liqcity.com/?p=14732#comment-20456 When pigs fly. I'm all for LIC developing and this particular site being worked on, but it's a disaster. Who will they sell to? No one is buying, much less in this area. When pigs fly. I’m all for LIC developing and this particular site being worked on, but it’s a disaster. Who will they sell to? No one is buying, much less in this area.

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