Harvey Heit Residential and Commercial Rental Homes in Long Island: The shrinking LIC apt.

Forget huge condo apartments for large families. In Queens, particularly in Long Island City, the average size of a condo is shrinking. A new development in the neighborhood, Madison LIC, has one-bedroom units that are at least 25% smaller than those found an an older new development called the View, according to The Wall Street Journal. The smaller units are a result of soaring construction costs and the influx of cost-conscious buyers.
The average square footage of Long Island City condos that are for sale has fallen each quarter since the beginning of 2012, according to a new report by brokerage Modern Spaces. In the second 2014, the average condo size was 828 square feet, 29% smaller that it was two years ago.

Written by Amanda Fung .

Douglas Elliman Realty, Long Island City Office
47-37 Vernon Blvd, Long Island City, NY 11101