Queens Plaza Condo Area
Up to Neighborhood Discussion
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Hey All,
What do you think about the area surrounding Queens Plaza? I am a bit hesitant because of the strip clubs, but with all of the development in the area, this should increase the property value enough to push them out. What do you think?
Thanks.
What do you think about the area surrounding Queens Plaza? I am a bit hesitant because of the strip clubs, but with all of the development in the area, this should increase the property value enough to push them out. What do you think?
Thanks.
Yuck.
Those strip clubs are there to stay for several more years...and that's being optimistic. Strip clubs are a mostly all-cash business...and when all-cash is involved so is organized crime...and gangs...and prostitution...both of which are in that area.
Not to mention the horrible air quality around there (and most of western Queens) with the QB Bridge and the #7/N/W trains...and the track noise from those trains.
Then again, if you're thinking long term...like a few decades, you'd probably make an insane profit...if you want to wait that long.
Those strip clubs are there to stay for several more years...and that's being optimistic. Strip clubs are a mostly all-cash business...and when all-cash is involved so is organized crime...and gangs...and prostitution...both of which are in that area.
Not to mention the horrible air quality around there (and most of western Queens) with the QB Bridge and the #7/N/W trains...and the track noise from those trains.
Then again, if you're thinking long term...like a few decades, you'd probably make an insane profit...if you want to wait that long.
I would not dismiss QP that fast. I think if office prices continue to be as high in Midtown as they are today QP might change faster than you think. I know that this has been said before but the new buildings around court square will help spread that growth north. Oddly enough I think that MetLife’s decision to move back to Midtown is a positive thing because it gave the city a weak-up call. This is why the city shortly there after announced the secured funds to redevelop the area.
However, I would watch the office market very carefully because if rents start falling in Midtown it will affect this area's redevelopment tremendously. You should also make sure that if you buy you are paying today’s price and not what the area will command five years from now.
However, I would watch the office market very carefully because if rents start falling in Midtown it will affect this area's redevelopment tremendously. You should also make sure that if you buy you are paying today’s price and not what the area will command five years from now.
QP is the lowest priced of any of the LIC new developments based on I assume the area, the questions around it, and the fact that a building will be built directly behind it blocking all views of Manhattan. But the apartments are quite nice and this section has in my opinion the potential to ultimately be the area with the greatest appreciation in property values in LIC as prices today are the lowest. It all depends though on what the city does to improve the area. There has been allot money invested into the area by developers, several big office projects are on the way,and plans and funding are underway to improve the area along with jackson avenue. But the city still has much to do to drive out the strip clubs. Its a good thing for all of LIC if the city really shows an even greater commitment to the area.