QUEENS PRICIEST CONDO EVER HITS THE MARKET IN LONG ISLAND CITY FOR $3.58 MILLION

Once again The View in Hunters Point tops itself with Queens priciest condo listing at $3.58 million, and we’ve heard that it is close to a done deal, which will set yet another record for Long Island City and Queens condos.  And once again, the listing is with Silvette Julian of Nest Seekers, who sold the previous record-holder about twenty months ago.  At the asking price, a sale would equate to almost $2,000 a square foot, but apples to apples comparisons would be very misleading in this case.  First of all, it’s a 3-bedroom, an extreme rarity in this town¹, for which buyers pay a big premium.  But what really makes this apartment one-of-a-kind are its 17-foot ceilings and its  backyard overlooking the midtown skyline!

For a number of reasons, I’ve sat on this news for two weeks², and while it makes a great headline, there is a much bigger story going on here in LIC in the last month or so.  Take a look at these local headlines:

Feb. 13  “LIC’s Vere Has Queens Priciest Listing at $3.1 Million”

Feb. 18  “Feng Shui Certified LIC Condo Building Sells Out” -The Vista, 48 units

Mar. 5  “LIC Condos Sell Out in Less Than a Year” -The Bindery, 20 units

Mar. 14 “Shusters 5-27 In Long Island City Sells Out” -27 units

Mar. 14 “$2.15 Million Townhouse Sale Sets Local LIC Record” -by local they mean Ct. Square, not all of LIC

Mar. 18 “LIC Warehouse Building Sells For $20 Million Profit(50% return) In One Year”

Mar. 19 “Tight Market Has Buyers Snapping Up Apartments Sight Unseen”

Mar. 19 “44-27 Purves Street Apt. 3B Heads Into Contract at Full Ask”

So dear readers, I’ve brought you the breaking headline, and assembled the anecdotal data, it is time for you to come up with your own headlines and stories for what’s happening in Long Island City real estate in early 2014.  Feel free to go whole hog in the comments section, or you can just a few weeks for my own brilliant analysis and predictions.