Is LIC the new Park Slope?

New York /
Feb.February 24, 2012 04:00 PM

Apartments for families are all the rage in Long Island City, the New York Times reported, and new developments slated for the area are prioritizing amenities such as playrooms, capitalizing on the relative affordability, commuting possibilities and the suburban feeling of the city.

In the first quarter of 2011, the average size of a unit sold was 822 square feet, while in the fourth quarter it had jumped to 1,364 square feet, according to data provided by Jonathan Miller of appraisal firm Miller Samuel.

“We’re just seeing the infancy, no pun intended,” agreed David Maundrell, president of Brooklyn-based brokerage aptsandlofts.com. “By the time the child is ready for preschool, there will be many options for them, and they can grow and stay in the community for 10 years.”

Dan Miner, the senior vice president of the economic organization the Long Island City Partnership, said the area may be taking over for Park Slope as the “it” place for families to migrate.

“Park Slope has been a mature residential neighborhood for 100 years,” Miner said. “Long Island City is progressing along at its own course.” [NYT]


Related Articles

arrow_forward_ios
Life sciences firm moves HQ from Dumbo to 48K sf in LIC
Life sciences firm moves HQ from Dumbo to 48K sf in LIC
Life sciences firm moves HQ from Dumbo to 48K sf in LIC
LIC developer secures $56M construction loan for stalled mixed-use project
LIC developer secures $56M construction loan for stalled project
LIC developer secures $56M construction loan for stalled project
The Jacx at 28-07 Jackson Avenue and Tishman Speyer’s Rob Speyer (The Jacx, Tishman Speyer)
What tenants pay at Tishman Speyer’s The Jacx in LIC
What tenants pay at Tishman Speyer’s The Jacx in LIC
A rendering of The Jacx at 28-07 Jackson Avenue and Tishman Speyer's Rob Speyer (Tishman Speyer, Getty)
Tishman Speyer gets $425M loan for The Jacx in Long Island City
Tishman Speyer gets $425M loan for The Jacx in Long Island City
NYC newcomer Grubb Properties plans 317 units in LIC
NYC newcomer Grubb Properties plans 317 units in LIC
NYC newcomer Grubb Properties plans 317 units in LIC
JetBlue cancels flight to Florida, keeps HQ in New York City
JetBlue cancels flight to Florida, keeps HQ in New York City
JetBlue cancels flight to Florida, keeps HQ in New York City
Werwaiss Properties files plans for 240-unit building in LIC
Werwaiss Properties plans 37-story mixed-use tower in LIC
Werwaiss Properties plans 37-story mixed-use tower in LIC
One Court Square tower in Long Island City (Getty)
Target is coming to Long Island City
Target is coming to Long Island City
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...