Our well-defined neighborhoods shape the city and set the tone for the dynamic epicenters of living, working, shopping, dining, staying and playing. All of the components work in harmony and give urban dwellers a true sense of happiness. Let’s explore.
It was not too many years ago that self storage was the “bastard” of the real estate industry. Fast forward; there are now five publicly traded self storage REITS on the New York Stock Exchange with Public Storage, the leader in our industry, listed on the Standard & Poor index of top 500 companies in the U.S. Yes, self storage has grown to be the “darling” of real estate investors because of its predictable, steady cash flow and is now regarded as a hedge stock/equity to own in recessionary times.
It has been a busy summer in the land sales world. In this month’s piece, I will focus on this summer’s development activity in Astoria and Long Island City. The average price per zoning floor area in this area equates to $261/ZFA this summer. Below I will highlight 10 development site sales for June, July and August. (Price per ZFA is calculated using as-of-right s/f only):
When people think of popular and lively Brooklyn neighborhoods, Williamsburg, DUMBO, and even Park Slope come to top of mind, while Cobble Hill ever so rarely seems to land on the coveted list. Though the enclave may be flying under the radar, the real estate market here is booming. Cobble Hill is accessible by many modes of public transit, and there is plenty to see, do and love.