Wednesday, July 10, 2013

Some Long Island City Real Estate News

Hey, I hate to lose you guys here in The Hills, but for those of you looking for a new domicile, or if you're just a NYC or Queens real estate buff, here's something for ya:


aptsandlofts.com has unveiled initial listings for Gantry Park Landing, the newest addition to Long Island City’s exciting waterfront from The Lightstone Group. Slated for August occupancy, potential renters can reserve preview appointments for the 119-unit boutique-style rental starting on July 12.

Homes at Gantry Park Landing, located at 50-01 Second St., are a mix of spacious studio, one-, two- and three-bedroom layouts. Prices begin at $1,875 for a studio, $2,450 for a one-bed, $3,250 for a two-bed, two-bath and $4,650 for a three-bed, three-bath home.

Here's some more information:

The Lightstone Group will officially launch leasing for Gantry Park Landing through aptsandlofts.com on July 12 with sneak preview appointments for reserve list renters. The stunning199-unit boutique property offers a sleek refined industrial aesthetic with carefully honed finishes and amenities that create an exclusive, intimate setting in one of New York City’s most dynamic and thriving neighborhoods.

“Our team has spent such a great amount of time scrutinizing every detail of this rental property − from the unique finishes and design aesthetic to the common areas and resident services – to ensure we’re offering the highest quality rental possible,” said David Lichtenstein, chairman and CEO of The Lightstone Group. “We look forward to introducing Gantry Park Landing to discerning renters seeking a finely tailored alternative to the large scale properties that are commonly found along the waterfront.”

Slated for occupancy in August, the 12-story Gantry Park Landing is a boutique-style luxury rental, located at 50-01 Second St., just steps from the widely acclaimed Gantry State Park on Long Island City’s waterfront. With a nod to Long Island City’s industrial past, Gantry Park Landing’s exterior presents a redefined industrial style with a concrete fa├žade accented by large floor-to-ceiling double-paned windows with opaque glass accents.

“Gantry Park Landing is an amazing addition to Long Island City’s waterfront and is unique for providing some diversity in building type for the area. With just under 200 homes, Gantry Park Landing offers a more boutique setting that provides renters with a stronger sense of community and lifestyle,” said David Maundrell, founder and president of aptsandlofts.com. “Also, the building is only one and a half blocks from the subway at Vernon Jackson, which is an important deciding factor for today’s renters.”

Homes at Gantry Park Landing, crafted by the internationally renowned designer Mark Zeff, are a mix of spacious studio, one-, two- and three-bedroom layouts that range in size from 460 to 1,256 square feet. Prices begin at $1,875 for a studio, $2,450 for a one-bed, $3,250 for a two-bed, two-bath and $4,650 for a three-bed, three-bath home.

Apartments offer condominium style finishes and fixtures including central air conditioning, oak flooring, vented washers and dryers and many units with massive walk-in closets. Select homes also include private outdoor space.

Gantry Park Landing features custom imported Italian kitchen cabinetry of gray oak and white lacquer, white stone countertops, GE stainless steel appliances, glossy white tile backsplashes, and Kohler stainless steel under mounted sinks.

Sleek bathrooms include gray porcelain tile floors, custom built-in shower mirrors, custom gray vanities, accent tiles and Kohler bathtubs with American standard fixtures.

Gantry Park Landing offers residents a wide array of high-end amenities that are typically found in a more sizable development. Taking advantage of the stunning waterfront views, the building features a furnished roof deck with outdoor grill, dining area, sun deck, fireplace and views of the Manhattan skyline.
Additional amenities include a state-of-the-art gym with a separate yoga studio; resident lounge with TV area and work space; tenants club room; game room with Ping Pong, billiards, TV area and kitchenette; a second floor terrace with outdoor seating and pergola; a commercial quality laundry room; common interior courtyard; pet spa and bike storage.

For more information on Gantry Park Landing visit www.gantryparklanding.com

15 comments:

  1. Edge of the City
    A Forest Hills, NYC Blog
    Isn't this blog supposed to be about FoHi?
    LIC is definitely not the edge of the city. Edge of the borough, yes.

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  2. Yeah, it feels more like a piece for the "Why Leave Astoria" blog. But the high rents in LIC will have a definite impact on FoHi - people who can't afford LIC or Astoria will increasingly wash up on the shores of FoHi. There are lots of cheap co-op sublets here, despite FoHi's reputation of being upscale -I know someone who rents one in Rego Park for only $1100 a month. That's much less than what one can find in Astoria, LIC, and especially, the hipper parts of Brooklyn.

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  3. I for one think that it is only a matter of time when forest hills is home to the 2000+ rent for a 1br apt. I mean, we are pretty close already

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    1. I sublet a one bedroom (L shaped...almost a 2) for $2200 in Forest Hills. Being on the higher end of other apartments in the neighborhood, I think its pretty on par and shows that this neighborhood does have a demand for higher class (or higher paying anyway) residents who want NYC living but dont want to spend $3k for a studio

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  4. i feel so lucky to have a 2 bed room apartment for $1,275 in a decent area of queens. i cant imagine paying almost 2 grand for a teeny tiny studio.

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  5. that whole area around The Queens West Developments is all brown fields, that real estate is full of poisons.

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  6. For what you're getting in that apartment complex in LIC, it's actually not so bad. A block from the train station that's one stop away from Manhattan, views of the city, the loaded amenities and the terrace all make this apartment a viable living space. At $3k for a 2 bedroom, that's $1,500 a person. Not too shabby relative to NYC living. Lets not compare one of our prewar low rise apartment buildings in FoHi for this Floor to Ceiling glass luxury complex.

    FYI: I just wanted to bring in some perspective. I live and love Forest Hills and plan on being here for a very...very long time.

    - D

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  7. For all the hype about LIC, it's not a real neighborhood until you're home to a Buffalo Wild Wings!

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  8. Spent some time on the Gantry Park Landing site and it's an impressive establishment. If they were selling units I would be tempted to check it out.

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    1. You are probably aware of this Susan, but for all of the development that has gone on in LIC, there is very little in the way of condo development. The bulk of what has been built at the water is all rental properties. You will find the condos along Jackson Avenue. I mention this, because when I had moved to Queens I knew from the onset that the number of suitable neighborhoods was minimal and restricted myself to looking only in Forest Hills, Douglas Manor and Long Island City.

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    2. Honestly Kevin, I wasn't aware of that ... very interesting.

      Why do you think that's the case? I would think that developers could get a pretty penny developing Condos along the waterfront.

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  9. $1,875 for a studio when the average NY salary is below $45 is absurd.

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    1. Average salary might be 45 but average rent if above 3k

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  10. The average rent for an apartment in New York City, excluding Staten Island, is $3,017.19 per month (source: Reis Real Estate Research Firm). Article can be found here - http://therealdeal.com/blog/2013/07/09/nyc-rents-push-past-3000-for-the-first-time/

    The average salary in Queens is indeed ~ $45,000 (it's substantially higher in Manhattan). You can view stats at the Bureau of Labor Statistics site - http://www.bls.gov/ro2/qcew9310.htm

    With that said, Gantry Park is Waterfront property and L.I.C. is up and coming. This developer isn't looking to build properties for the "average" consumer. They're under-taking these Waterfront developments to break in to the NY marketplace (they currently have a very large scale development planned for the Gowanus Canal).

    It's a supply and demand issue. Time will tell if the price points are "correct".

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    1. With rentals in Williamsburg exceeding the cost of rentals in LoLita, the LES, FiDi and Battery Park; you haven't seen anything yet when it comes to LIC. The rental market is self correcting and the cost of an apartment in LIC will continue to rise as those living in the five other neighborhoods I mentioned continue to recognize that they live in either inconvenient places, places with bad infrastructure, and/or crappy mass transit options.

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