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LIC RE Development Reviewed in Q Note
The Q Note, March 12, 2010

 

 

 

Spacious dream kitchens like those at Solarium keep the masses moving to Long Island City.

Spacious dream kitchens like those at Solarium keep the masses moving to Long Island City.

Shiny, Green, Different
Upscale LIC Real Estate Developments Reviewed in The Q Note
March 12, 2010
http://www.theqnote.com/2010/03/12/shiny-green-different/ 

One peek at Vernon Boulevard’s buzzing new restaurants Testaccio and El Ay Si, or the aisles at gleaming Whole Foods wannabe Food Cellar, and it is obvious why Long Island City has emerged as the epicenter of Queens’ real estate market.  A vibrant main drag along with a one-stop commute to Grand Central Terminal and unbeatable East River views makes it one of NYC’s most desirable neighborhoods.  Those with the bucks to become homeowners are especially seduced by LIC because of its plethora of brand new condos.  The challenge is discerning which gleaming stoves and spa bathrooms to call your own – l-shaped L Haus with its grassy Yard and rooftop cabanas overlooking the Pulaski Bridge?  Or the maple wood floors and pétanque courtyard of 5SL a stone’s throw from Gantry Plaza State Park?

By now luxury is the norm for LIC – a fact equally loved and scorned by its residents. One newcomer that truly breaks the high-end cookie-cutter mold, however, is 35-unit Solarium (www.solariumlic.com).  Soaring ceilings, Italian tile, and access to the waterfront are all part of the package but this building also happens to be the neighborhood’s first all-green condo development flaunting wind turbine power and a roof deck paved with recycled rubber.  It’s made from 100% recycled steel and masonry block, and inside you’ll find VOC paint-free units with bamboo wood floors, ultra low-flow toilets, and Energy Star appliances.  “Obviously people like the idea of being green these days,” says Rick Rosa, Executive Vice President of Nancy Packes, Inc., the marketing muscle behind Solarium.  “We wanted to stand out and green was the way to go.”

Six contracts have been signed since Solarium’s recent opening and newcomers are buying into the sustainable lifestyle from the low 400s for a 560-square-foot pad up to the low 900s for a two-bedroom set-up – not unreasonable considering the prices green design typically commands.

Still, it’s hard not to think how LIC’s condo growth – except for the highly anticipated Hunters Point South community welcoming middle income candidates – seems contrary to a struggling economy.  Adam S. Langer of Royalton Realty (www.royaltonrealty.com), the Manhattan-based biz which opened a LIC outpost last year, continues to see demand.  “I still see a lot of people who are making a lot of money.  People are constantly moving out here from Manhattan due to proximity and economics.  You are buying condos here for about $600 per square-foot and getting so much for your money.  In Manhattan you are getting an older condo for about $1,000 per square-foot.  Have you seen the views from here? What would you do?”

Langer does predict that overdevelopment in Hunters Point and Mayor Bloomberg’s devotion to revitalizing the Court Square and Queens Plaza areas of LIC will lead potential residents to this part of town.  But with glitzy projects like Arris Lofts (lobby fireplace, courtyard reflecting pool) and Vere 26 (deep soaking tubs, custom wood-grain lacquer cabinets) it hardly seems like a compromise.



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