- Alan Lupiani
- Jul 29, 2021
- 1 min read
...look no further. NOW is a great time to buy and Long Island City is the place to be!
The reasons are plenty. Here are a few:
1) location, location, location!
2) you can rent immediately
3) developers have loan payments coming due and need to make deals!
4) still favorable mortgage rates
Why pay a monthly rent that would be comparable to a mortgage payment?
All said, now is the time to get a deal. I just worked with a customer who negotiated a 10% down payment at closing and 15% off the list price and the developer was willing to pay for some closing costs. That is almost unheard of!
Also, the neighborhoods in LIC are evolving as fast as the new developments that inhabit them. Trader Joe's just opened close to Court Square, Target is on the way and Hunters Point is all the rage with Gantry State Park, a brand new NYC Public Library, and more new restaurants than I can name here have recently called Long Island City their new home!
If you would like to start the process of OWNING your next home, please feel free to reach out to me today and we can begin the process!
917.613.8135
pictures: Alan Lupiani
- Alan Lupiani
- Jul 21, 2021
- 1 min read
Updated: Aug 7, 2021
CHECK OUT THE VIDEO WALK THOUGH! This exquisite two bedroom apartment with TWO extra rooms on this top 2nd floor apartment on the LIC/Sunnyside border. This is a rare and desirable layout for work at home! Freshly painted an updated kitchen for immediate move in! There is a large bedroom in the front of the apartment with a separate room off the main hallway and a bedroom in the back with and extra room to its' side. A large living room and kitchen separate the bedrooms and extra rooms. Hardwood floors throughout with lots of light including east, north, and western exposures. Two minute walk to the laundromat on 48th Avenue. Be on a tree lined street with amazing Sunnyside shopping and restaurants including “I Love Paraguay,” “Taqueria Santa Fe,” and “Coffee Tossy” are nearby and you will have a short walk to the 40th Lowery St. 7 train! Thomas Noonan playground is a five minute walk. Cats only, Negotiable broker fee. Email me today for a viewing!
917.613.8135
- Alan Lupiani
- Jun 23, 2021
- 2 min read
If you are on the pulse of the NYC real estate market, you understand that there has been: 1) lots of new development 2) a recent upsurge in buying 3) a steadily strengthening post pandemic economy. As a result, there is a small window of time where developers have loan payments coming due and are looking to fill their vacancies as quickly as possible.
Secondly, the market has many different tiers to explore. Typically, I separate these tiers as traditional condo before 1999, older developments 2000 - 2015, and newer development 2016 - 2021. I generally use this distinction to focus on the different amenities offered, apartment size/style, tax abatement programs, and location.
For the under 30 crowd, I have been focusing on a first time buyer experience with a focus not only on livability, but also as an investment. Key features that designate both a good living experience and investment have generally gravitated towards newer developments in emerging neighborhoods with outdoor space and luxury amenities.
Location, Location, LOCATION!!
A condo buyer should take into many of the considerations a new business does. Key location elements include: 1) proximity to public transportation 2) north, east, west, southern exposures, 2) Nearby restaurants and general atmosphere of the neighborhood.
Also, for those pushing their finances to the max, I have suggested viewing studios as well. Studios have a good track record for renting especially regarding price per square foot. Larger apartments tend to cover approximately 50% of monthly mortgage payments, common charge, and tax expense, whereas studios tend to cover more of the monthly expenses, approximately 60 - 75%. These estimates depend on getting a good purchase price!
Now is the time to buy! You have a window right now before the market picks up steam again in the Fall of 2021. Don't miss out!
Please contact me if you would like to start viewing and I will find the best home to suit your needs from both a livability and investment perspective!
Contact me today!
Alan Lupiani - alan@modernspacesnyc.com 917.613.8135