A group of experts recently gathered to discuss a “booming” topic – the Long Island City real estate market.
LIC Partnership hosted a real estate breakfast on May 15 at the U.N. Federal Credit Union, located at 24-01 44th Road, during which a panel of specialists spoke about the various industrial and residential developments expanding into L.I.C.
The panel was composed of Amy Scherber, owner and founder of Amy’s Bread; Amanda Fung, reporter from Crain’s NY Business; Bill Connor, senior real estate director with FedEx Ground; Doug Partrick of Heatherwood Communities; Sarah Obraitis, co-owner of M. Wells Restaurant; and Flint MacNaughton, founding partner of SunCap Property Group.
“I think the panel was an exciting panel because you have so many different representatives from different types of companies – you had food, you had FedEx which is kind of industrial, you had residential,” said David Brause of Brause Realty, Inc., who moderated the discussion. “A lot of new developments and a lot of new money is coming into L.I.C. to make a significant investment, so just the diversity of the people on the panel I think is what the nice takeaway is here – that there are so many opportunities for different kinds of businesses right here in L.I.C.”
Dan Miner, the senior vice president of business services for LIC Partnership, believes the panel’s message addressed the transformation of L.I.C. into a “diverse, dynamic, exciting, multi-sector business community.”
Throughout the discussion, the experts tackled what qualities make L.I.C. an ideal location for families, restaurants and businesses from all sectors.
“It didn’t take long coming to this area here – L.I.C. – to realize the potential, the growth and to see all that has transpired in a number of years, especially on the waterfront, and it is moving north here to the plaza,” said Partrick. “With the opportunities for high density construction, I just see a fantastic growth in the area and I think there is going to be a tremendous amount of change in years to come.”
Partrick went on to say that New Yorkers are being “pushed out of Manhattan” and L.I.C. is the “natural place for people to come.”
Fung said the neighborhood’s access to public transportation, proximity to the city and 20 to 30 percent cheaper rental rates have enticed many to make the move to the area.
The restaurant owners on the panel also expressed admiration for L.I.C., due to the community’s active residents and exciting environment.
“It is a wonderful place for professionals and for families,” Obraitis said. “What more could you ask for – eight train lines and a lot of exciting businesses and a lot of people who have built their own businesses. I think we make each other feel great and people want to stick around and grow their futures and their families in L.I.C.”