New Gen CRE (New Generation Commercial Real Estate) is a blog taking the pulse of Queens & Brooklyn’s commercial real estate, humbly reporting the action and shamelessly giving opinions.
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Turtle & Hughes, a leader in distribution of Electrical and Industrial Equipment is relocating from Long Island City further east to Glendale. Its operation at 4939 Van Dam Streetwas simply not large enough, and with industrial rents in and around LIC going up – a result of higher property taxes, strong demand for space close […]
We took this shot from across the park – John F. Murray Playground, that is – from 45 Rd (the back side of LIC Post Office). One Murray Park, at 11-25 45 Avenue, developed by the same team that brought Casa Vizcaya and yet-to-be-named new condo on 50th Ave, is a 6-story condominium accurately named […]
Up until recently, the Chocolate Factory Theater was the only commercial space on 49th Avenue west of Vernon Blvd. When Case Enrique, a Mexican cuisine restaurant opened last week next to what locals call the Shady Park (official name is Andrews Playground), we started to predict a new retail block for Hunters Point. There is […]
Finally something happening on the empty lot on 51st Avenue between Vernon Blvd and 5th Street. The 10,000-plus square foot site of previously-rumored Met Foods at 5-29 51 Ave was purchased in November 2011 for $2.5 million, to soon become the newest condo development in Hunters Point. A development team behind similar small condominium project […]
A taxi cab fleet owner told that when he first came to NYC in 1986, he drove someone else’s cab, and by 1994, he managed to own two, managing the business best he could after long shift behind the wheel. By the late 1990’s he owned several and using cell phone and computer, he was […]
It is difficult to pinpoint what one technological advance made the greatest impact on the good ole, brick-n-mortar and relationship-based real estate industry. The Internet made access to information easy and universal. As recently as 20 years ago, a handful of commercial firms and a few hundred residential firms controlled 90-plus percent of the real […]