From the February issue: The former industrial hub-turned-development mecca of Long Island City continues to be ground zero for real estate projects in Queens. Like its neighbor Long Island City, Astoria has been a magnet for investors, with some 3.5 million square feet of development projects in its pipeline, including 4,132 residential units.
The low-rise neighborhoods of Sunnyside and Woodside are less than six miles from Midtown Manhattan, with the latter being a roughly 10-minute train ride to Penn Station On The Long Island Rail Road. Serviced by several subway lines and relative bargains compared to LIC and Astoria, Elmhurst and its neighbor to the north, Jackson Heights, are being touted as the next frontier of rental neighborhoods in Queens.[more]