Tag Archives: Eric Benaim\

Report shows size of LIC homes shrinking, prices rising


| lguerre@queenscourier.com

Chart courtesy Modern Spaces

Long Island City home sizes are shrinking, but the prices are not.

A report by residential brokerage firm Modern Spaces shows that while the average square footage of apartments of new developments are decreasing in the burgeoning neighborhood, the average price per square foot is rising.

In LIC, the average apartment size in new developments has decreased 41 percent from Q1 2013 to just 828 square feet by the first half of 2014. But during that same period, the average price per square foot of homes in the neighborhood has risen 23 percent from $768 to $944.

Despite the rising prices, Eric Benaim, founder and CEO of Modern Spaces, said the decreasing sizes are actually helping to keep prices from skyrocketing in the community.

“Demand for new homes is very high in Long Island City and Astoria and we are seeing an increased number of developments in both areas,” Benaim said. “In Long Island City, developers are building more efficiently-sized residences, helping to keep overall home prices down. This trend is helping to differentiate Long Island City from the rest of the New York market. People can buy beautiful new homes in a prime location with incredible amenities without over-the-top home prices.”

The report also found the trend of rising prices in Astoria. Average price per square foot for new homes jumped to $820 per square feet by the first half of 2014, up 32 percent from Q1 2013, when it was $619.

 

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LIC Summit to highlight booming western Queens neighborhood


| editorial@queenscourier.com

Photo: Peter Aaron/Esto. Courtesy of Museum of Moving Image

The various traits that contribute to the boom of Long Island City will be the talk of a day-long conference dedicated to the western Queens neighborhood.

The Long Island City Partnership, along with co-hosts Modern Spaces and The Queens Courier, will showcase the first LIC Summit, called “LIC Now: Perspectives and Prospects.” The day-long event will take place on Tuesday, June 17, at the Museum of the Moving Image, located at 36-01 35th Ave., starting at 8 a.m. and will be followed by a cocktail reception and networking at 4:30 p.m. at Kaufman Astoria Studios.

“The summit is intended to really highlight the incredible authentic mixed-use community that is Long Island City and it is important not just locally but citywide and nationwide,” said Elizabeth Lusskin, president of the LIC Partnership. “It’s also an opportunity to dive into the issues that are continuing challenges for the community and a moment to take stock on how we should plan for the future.”

The LIC Summit will highlight Long Island City’s real estate market, infrastructure, arts, cultural, television and film community, industrial sector and expected future as a technology hub.

“Long Island City is experiencing an explosive change right now and is a huge economic driver for not only western Queens, but the city as a whole,” said Eric Benaim, CEO and president of Modern Spaces. “This summit was created to address the ongoing and emerging trends and needs of this transformative neighborhood.”

The keynote address will be delivered by the city’s Deputy Mayor for Housing and Economic Development Alicia Glen, and other featured speakers include Borough President Melinda Katz, Councilman Jimmy Van Bramer and many more.

“This is really meant to be a dialogue between the panelists with the audience. Everybody who is there is part of the content of the conference,” said Lusskin, who hopes the LIC Summit will become an annual event. “We really hope that we will have a really diverse and high quality audience that is both local constituents and citywide leaders.”

For more information and to register click here.

 

Below are the categories for the LIC Summit panels, which will each be moderated by experts and leaders in their industries.

Keynote Panel – LIC: Big City, Big Picture 9:15–10 a.m.

Services & Amenities: Current Successes, New Opportunities – 10:15-11 a.m.

Television & Film – 10:15-11 a.m.

Commercial & Industrial Real Estate
11:20 a.m.-noon

Keynote Speaker: Deputy Mayor for Housing and Economic Development Alicia Glen
1-1:45 p.m.

LIC as a Tech District – 2-2:45 p.m.

Residential Real Estate – 2-2:45 p.m.

Arts & Culture – 3-3:45 p.m.

 

 

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Woodside luxury building The Icon52 fully leased


| aaltamirano@queenscourier.com

Photos Courtesy of Donna Dotan Photography

Western Queens real estate continues to show that it is hot, as another luxury building becomes fully leased in less than two months.

The Icon52, a 66-unit apartment building located at 52-05 Queens Blvd., has been 100 percent leased by real estate and brokerage company Modern Spaces. The building is the company’s first rental project in Woodside.

“Being able to completely lease out the building in such a short amount of time is extremely gratifying, given it was our first project of what we hope will be many in the neighborhood,” said Eric Benaim, CEO and president of Modern Spaces. “We predict The Icon52 will set the standard for future rentals coming to the Woodside area.”

Each unit in The Icon52, ranging from studios to two-bedroom apartments, features hardwood floors, high ceilings, kitchens with stainless steel appliances and modern bathrooms. Rental prices range from $1,500 to $2,600.

Amenities include a virtual doorman, laundry and bicycle storage room. Residents also have access to a landscaped rooftop deck with chaise lounges, parking garage, barbecue and sitting areas.

The Icon52 also has convenient access to the No. 7 subway line and is just minutes away from Manhattan.

 

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LIC luxury condo The Bindery reaches 100 percent sold mark


| aaltamirano@queenscourier.com

Photo Courtesy of Donna Dotan Photography Inc.

Long Island City real estate continues on its hot streak, as another luxury condominium reaches its 100 percent sold mark.

The Bindery, a 20-unit residential building located at 43-37 11th St., has been completely sold by real estate and brokerage company Modern Spaces. The building is one of the first residential properties in the area that sold for over $1,000 per square foot with one of the homes selling for $1,166 per square foot after coming onto the market in April.

“The tremendous pace at which the Bindery homes were sold speaks volumes of the continued demand of luxury living in the area,” said Eric Benaim, CEO and president of Modern Spaces. “Everything from the name to the design of the building hit a note with buyers and we couldn’t be more pleased to have brought this project to completion in less than a year.”

The condominium, developed by NY Lions Group and Craig Axelrod, is made up of seven floors including studios, one- and two-bedroom apartments. The interiors of the building feature wood flooring with a reclaimed effect throughout, exposed brick walls, gourmet kitchens, luxury bathrooms, and many of the units come with their own private balconies, terraces or garden.

“The success of The Bindery is owed to its personality – residents today are looking for more character in their homes and have really connected with the building’s homage to the neighborhood’s bookbinding history,” said Jennifer Dorfmann, managing director of sales for Modern Spaces. The sell-out of The Bindery speaks to Long Island City’s continued transformation into a cultural hotspot.”

Some of the amenities of the building include a landscaped rooftop, fitness center and a virtual doorman. To enter The Bindery, residents will go through a library instead of a lobby, keeping up with the inspiration of the historical book binding factories in Long Island City.

The Bindery is also close to the E, M, 7 and G subway lines, and is just minutes away from Manhattan.

 

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Court Square’s first feng shui residential building hits 100 percent sold mark


| aaltamirano@queenscourier.com

Photos Courtesy of Donna Dotan photography

One feng shui-certified luxury residential building in Long Island City has reached the top.

Real estate firm Modern Spaces announced the luxury condominium called The Vista, located at 44-15 Purves St., has hit its 100 percent sold mark.

The Vista was feng shui-certified by consultant Laura Cerrano of Feng Shui Long Island. Cerrano advised the developers on every part of the design and construction of the building since the beginning.

In accordance to feng shui principles, the luxury building does not have a fourth floor, residences do not have balconies adjacent to the living room and entrances to each home will not face another interior door.

“Working with a feng shui master during the entire process of this project has been an incredible learning experience for us and has provided even further insight into the fen shui principles,” Eric Benaim, CEO and president of Modern Space said. “It’s interesting to see how every layout, every wall has been meticulously designed and built to embrace the feng shui beliefs.”

The Vista has 15 floors with 48 studios, one- and two- bedroom apartments which range from 475 to 965 square feet and with starting prices of $360,000. The residences include hardwood-oak flooring, gourmet kitchens, and spa-like master and guest baths.

The building features solar panels, and a glass façade with bay windows and balconies. Some of the amenities include a landscaped rooftop terrace, fitness center with a yoga room, entertainment room, Wi-Fi, doggie spa, bike storage and a parking garage.

It was developed by Lions Group and Emmy Homes and has access to the E, M 7 and G subway lines.

 

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Real estate panel discusses booming Long Island City


| aaltamirano@queenscourier.com

THE COURIER/Photo by Angy Altamirano

The Long Island City real estate community gathered for a morning discussion of the area’s market at a special breakfast on Thursday, April 25.

Local real estate entrepreneurs met and shared their ideas over bagels and coffee. At a panel discussion moderated by realtor David Brause, participants shared views on the booming LIC real estate industry’s present and future.

Panelists included Eric Benaim, president and CEO of Modern Spaces, Jonathan Miller, president and CEO of Miller Samuel Inc., Andrew Nimmer, principal of The Local Hostels, Michael Phillips, chief operating officer of Jamestown and Jason Sheftell, real estate editor for the New York Daily News.

 

The panelists discussed what they believe makes LIC a destination for visitors and people looking to settle down. They noted the easy public transportation access, closeness to Manhattan and the affordability of the community’s real estate.

According to Benaim, whose business has gone from residential sales and leasing to project development and marketing, prices for real estate in the area range from about $2,500 to $50,000,

“I think Long Island City is the gateway to all of Queens,” said Sheftell. “It’s the very beginning for this neighborhood.”

 

The Industry Arrives in Long Island City


| smosco@queenscourier.com

Photo Courtesy of Modern Spaces

The expansion of LIC continues. On October 19, Eric Benaim and Ted Kokkoris of Modern Spaces hosted at a premier party to announce that the real estate firm is now marketing The Industry – a condo developed by Silvercup Studios. Guests packed the space at 21-45 44th Drive and were treated to music by DJ Cerok, food by LIC Market and photography by Jesse Winter.

This luxury 76-unit condominium apartment building in vibrant LIC was developed by Stuart and Alan Suna, founders of Silvercup Studios – the city’s largest full-service film & television production facility. The studio is also in LIC and it’s iconic sign can be seen from The Industry’s magnificent rooftop.

With beautiful views of the Manhattan skyline, modern amenities, a landscaped rooftop terrace, and state-of-the-art fitness center, The Industry has everything you need for luxury living in historic, exciting LIC. Check out www.theindustrylic.com for more info.

New condo, The Industry, opens in Long Island City


| editorial@queenscourier.com


The expansion of LIC continues. On October 19, Eric Benaim and Ted Kokkoris of Modern Spaces hosted at a premier party to announce that the real estate firm is now marketing The Industry – a condo developed by Silvercup Studios. Guests packed the space at 21-45 44th Drive and were treated to music by DJ Cerok, food by LIC Market and photography by Jesse Winter.

This luxury 76-unit condominium apartment building in vibrant LIC was developed by Stuart and Alan Suna, founders of Silvercup Studios – the city’s largest full-service film & television production facility. The studio is also in LIC and it’s iconic sign can be seen from The Industry’s magnificent rooftop.

With beautiful views of the Manhattan skyline, modern amenities, a landscaped rooftop terrace, and state-of-the-art fitness center, The Industry has everything you need for luxury living in historic, exciting LIC. Check out www.theindustrylic.com for more info.