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Will EastCoast 3 Make or Break Long Island City?

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Broker-blogger Andrew Fine checks in with the Queens West chunk of Long Island City, where Rockrose's third EastCoast building (and first EC condo) is currently getting bricked. He writes:

The building will not be named "East Coast", but I am not at liberty to divulge the name of what is to be a high end condo project. There will be terraces o'plenty, incredible unobstructed views, and prices to start at "over $1000 per square foot and average $1150 per square foot" according to a reliable source. Sales for the building are expected to begin in the spring, although there are unsubstantiated rumors that Rockrose may be considering a late change to rentals. Forget the rumors, because Rockrose has extremely high expectations for this 20-story building. While buildings like the Toll Brothers' nearby Fifth Street Lofts seemed to top $1,000/sf almost as if by accident, EastCoast 3 plans on marching right out of the gate with record-setting LIC prices. It's shaping up to be the ultimate test of the state of the New York City market: new construction with amenity overdrive, charging Manhattan prices for non-Manhattan real estate. Will it work? We're psyched to find out. And if you forget where EC3 stands in the grand scheme of Queens West, we snapped a picture of the model when we checked out EastCoast 2 for Curbed Inside.


· East Coast 3 LIC Gets Bricked! [A Fine Blog]