The Reel

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A blog for breaking sales and neighborhood real estate news.

By: Massey Knakal Director of Sales Evan J. Daniel

Well it's about time!

 Anyone that has invested or lived in Long Island City and Astoria during the last few years can certainly relate to that statement. A 2001 zoning change to allow for a greater density of mixed-use and residential development led to the growth of a neighborhood that ran rampant through the peak years of 2006 and 2007. Long Island City was among the hardest hit when the economic downturn set in from late 2008 through 2010, a period where the vibrant growth of the area appeared almost frozen in time. Residents moving into their new homes were surrounded by stalled developments, abandoned warehouses, and vacant stores. The reality of the neighborhood they joined was an incomplete picture of where it was going just years before.

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Neighborhoods: Long Island City