TheRealDeal.com "Condo Developers Have Big Plans For Long Island City"
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With Long Island City land prices blowing up and the neighborhood’s demographics shifting to an older, more monied crowd, developers are increasingly considering condo development in this area dominated by rental apartments. Developer Sam Charney, who is building condos in the neighborhood with partner Ascent Development, said: “We witnessed this neighborhood go from a renter’s neighborhood where people who couldn’t afford to be in Manhattan moved here in their mid-20s… Now they’re in their mid-30s, having children, and they’ve saved up a little money,” according to Bloomberg.