Strong demand for LIC projects

The Long Island City Business Development Corp. recently held a panel discussion at which developers who are constructing new buildings in Long Island City talked about the strong demand for new residential developments in the area. Among the panelists were a representative for Toll Brothers, which is building the Fifth Street Lofts at 48th Avenue and Fifth Street. About half of the building’s 117 units–which range in price from $400,000 to over $1 million–have sold in the past two months. more [NYDN]