A total of 1,412 units across six upcoming luxury buildings are expected to transform the Queens Plaza area in Long Island City by creating much-needed housing in the area.
All six projects are expected to be completed as early as this year and no later than 2026. As each project nears completion, the housing units will be put on the market.
One of the projects anticipated to be completed this year is the Noble, at 27-09 40th Ave. This luxury condominium building will consist of 46 units across six floors. Among the amenities for homeowners are indoor parking, bike storage, a residents lounge, a fitness center, rooftop terraces and personal storage lockers. The building is also pet-friendly. This project was developed by Gus Vorillas and Tony Raouf, and the architect is HCN Architect.
The other project expected to be completed in 2024 is the Mason, at 40-46 24th St. Another luxury condominium building, the Mason, will consist of 42 units across six floors. Amenities for each unit include washers and dryers and Latch keyless entry doors. A majority of the homes there will have private outdoor spaces. Jasper Wu is the developer of this project and the architect is My Architect P.C..
You can feel the rent trickle down already.
6 comments:
Cognitive dissonance hurts the Sheeple again !
Welcome to Biden’s Banana Republic
Ain't capitalism wonderful.
Some things never change.
Really? I thought they outlawed math in NY.
To be unbiased, technically its the democrats fault as well. The 30% of your income rent rule comes from public housing, which adopted a rule that nobody should pay more than 25% intially to prevent very low income tenants from being broke. That formula was used in many projects having nothing to do with traditional public housing. Public housing complexes realized this would drive higher and middle income tenants out since a household making 120k would have to shell out 3k in rent.
If you believe in the marxist concept of to a person's best of their ability to each needs, then a person should pay 3k a month for a studio for a single person or a couple at 120k and a family of 3 or 4 with children should get a 3 bedroom at 750 a month at an income of 30k. While absurd, this is the result also of the democrats. I'm no libertarian free market absolutist but let's credit blame where it's due. Of course those vacant 130% ami will now go to homeless and inflated over market rents,although since its rent stabilized over time it will be less than30%.
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