New York City has always had a rotating cast of neighborhoods-of-the moment – buzzed-about areas where the hottest bars and restaurants, the coolest attractions, burgeoning businesses, and alluring residential properties all seem to cluster.
One of those neighborhoods is Long Island City in Queens. Last September, The Wall Street Journal turned an eye toward the area’s condo scene (specifically The Harrison at 22-21 44th Drive, a 27-story building with a gym, lounge, children's room, and rooftop access), and observed that while sales in the area bottomed out in 2011 in the wake of the financial crisis, things are looking up. That said, much of the heat surrounding these brisk purchases can be attributed to a limited supply of units in the neighborhood, as much of the residential stock is still comprised of rentals.
So what should the enthusiastic market spectator think of Long Island City? The Cooperator spoke with several real estate professionals with strong ties to the area to discuss the finer points of the neighborhood, its condo scene, and its future.
A Neighborhood Anew
Over the past few decades, Long Island City has come a long way from its industrial roots, and few have observed its transition more closely than Brian Dusseau, a real estate agent with brokerage firm Halstead who not only works in the neighborhood but lived there from 1996 until 2015.
“[Long Island City] is a brand new neighborhood in the sense that it has changed due to rezoning from light industry to residential,” says Dusseau. “But you certainly still have the townhomes and walk-ups that have been there forever, along with iconic Italian restaurants like Manetta's, and families that have been there from the ‘70s or earlier.