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LIC Luxury for Under $500 a Foot? It Just Happened!

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Might the winds of change be wafting up over Newton Creek from Greenpoint into Long Island City? (That would explain the smell.) Yesterday we learned that Greenpoint's Pencil Factory has knocked prices down into the $500-per-square-foot range, and now a 1,050-square-foot 2BR, 2BA condo in LIC's L Haus has just closed for $519,307. That's $494/sq. ft., homeboys! Now, the fine print: It's a second-floor unit without a river view (but it's also not looking right at the Pulaski Bride) that was originally listed for $605,000. The current crop of L Haus 2BRs start at $610,000. Is this sale an anomaly? Well, one other 2BR unit in the building has closed: A slightly bigger apartment one floor up that was asking $645,000. It sold for $623,000, or $581/sq. ft. Not bad. Sound the alarm: Rooftop cabanas and washer/dryers for all!
Here's the floorplan for #2B, which is the one that went cheap:

· 11-02 49th Avenue #2B [StreetEasy]
· L Haus [Official Site]
· L Haus coverage [Curbed]

L Haus

11-02 49th Avenue, Long Island City, New York 11101 Visit Website