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Long Island City offering larger units with more bedrooms, report says

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It’s no exodus, but some New Yorkers want more space, and they’re finding it in Long Island City. Three-bedroom condo sales in LIC jumped to 62 percent of the market share during the second quarter, accoridng to a new report. According to data from Modern Spaces NYC, a real estate group with offices scattered across New York City, 62 percent of apartment purchases in LIC in the second quarter of 2016 were for three-bedroom apartments, compared to a 46 percent share in the first quarter. This demand for space helped push the average price for condos up to $1,235,524, from $1,178,304 in the first quarter. “There have been less and less three-bedrooms coming online over the years,” Modern Spaces NYC CEO Eric Benaim said. Benaim and the team at Modern Spaces NYC have pushed developers to…

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