Although the Long Island City real estate market is scorching hot with thousands of apartments planned, last year there were no new condo units available, said Eric Benaim, CEO of brokerage Modern Spaces.
Meanwhile, the demand for condos in the burgeoning area is climbing as more people desire to settle down in LIC after renting there for a while.
To meet demand, some planned LIC condos will come to the market this year, including a building called The Corner at 47-28 11th St., which Modern Spaces recently announced will begin selling next month.
“We are excited because we know there is a lot of demand for condos,” Benaim said. “What tends to happen is people get introduced to the area through the rentals then they live here for a while, and then they are ready to buy.”
The Corner has 23 units, which are a mix of one- and two-bedrooms. The homes feature chef kitchens and oak flooring, and some units have private outdoor space. The building also offers designer-style bathrooms with Kohler tubs, Grohe fixtures and ceramic titles.
Additionally, there are numerous amenities through The Corner, such as a fitness center, sundeck and residents’ lounge.
The condominium is being built through a joint venture partnership between Kora Developers LLC and BK Developers.
Prices for the condos have yet to be announced, and the building isn’t planned to be completed until later this year, so new homebuyers won’t be able to move in until at least the end of the year.