Owners of industrial sites in Queens have seen their property values rise a staggering 60 percent over the past year as developers increasingly warm up to the borough, according to a new JLL report. And as the supply of industrial properties continues to shrink, rents are seeing marked increases. Epitomized by the likes of the Durst Organization snapping up a site in Hallets Point for $130 million and speculators looking to gentrify gritty parts of Long Island City, industrial property values have risen 60 percent year-over-year, according to JLL. And now many of those industrial properties – concentrated near John F. Kennedy International Airport and neighborhoods such as Long Island City, Astoria, Maspeth, Flushing and Jamaica – are seeing rising rents.
3 comments:
I think we need to start deporting these illegals and stop legal immigration for a while. How many more foreigners does nyc and America have to take in before they say that enough is enough? America gives out 1 million visas a year and it seems like half of those people come to live in nyc. Nyc has become a third world cesspool and it's only getting worse. I was reading an article yesterday where it said that there is a property in brooklyn that was sold to the Chinese government. Why was the chinese government allowed to purchase USA property? Something is not right within the nyc government.
This is probably part of the reason allied extruders is leaving review ave. - they were a steady local employer for decades. Rumor is they closed up and moved down south somewhere.
I can't wait for them to build housing there next to 2 trash transfer stations, 2 superfund sites and the sewage plant across the creek. Oh and let's not forget the oil spill... At least the neighboring dead people are quiet...
Anon #1 - you said it! Check out Flooshing, Corona and Elmhurst if you have any doubts.
But of course the readers of QC already know the score - thanks Crappy!
Post a Comment