According to NYPost, many renters as well as purchasers priced out of not only Manhattan but also LIC, and Williamsburg have turned their attention to Roosevelt Island. Known for slower moving traffic, Manhattan views and green space, rentals can be had for about a 30% discount compared to Manhattan according to Brokers. Additionally, there is a co-op conversion (Island House) of a rental building that saw 100 visitors to their opening day. Two 3 bedroom duplexes which monthly maintenance of under $1800 are already spoken for at this time. There were asking just north of $1 million. Island House listings
Cornell’s $2B tech campus is already in the construction phase and if all that wasn’t enough, Starbucks has opened an outpost on the Island. A short tram ride over the East River or one stop on the F train awaits commuters who are much closer to Midtown than parts of Upper Manhattan or even parts of LIC and Williamsburg.
What’s your opinion? Is now the time to get something here before the prices rise like it did in LIC?