After Five Years of Sales, The View Sells Out

The View, a luxury 184-unit condo building in Long Island City, sold out after five years of sales. The Real Deal reports that the building first hit the market in 2008 with prices around $1,000 per square foot, but during the recession prices fell as low as $700 per square foot. TRD suspects that The View “hit the market at perhaps the worst time in the last decade.”

When the market picked up units typically sold between $1,100 and $1,200 per square foot. This building now houses the most expensive condo on the market in Queens, and last year a duplex penthouse set a record here selling for $3,100,000. Eric Benaim, of Modern Spaces, gives this development lots of credit for setting the scene for the luxury market in LIC: “I think this building … pretty much set the standard and was a helping hand in raising the prices in the rest of the neighborhood. Developers [there] should thank the builders of the View.”

Five Years Later, Recession-Hit LIC Condo the View Sells Out [TRD]
The View in LIC has Sold 90% of its Units [Q’Stoner]