REAL ESTATE Contamination cleanup of former 5Pointz graffi ti mecca coming soon 5 Pointz during demolition BY LIAM LA GUERRE [email protected] @LiamLaGuerre Environmental remediation of the former 5Pointz site, the next step to transform the former graffi ti mecca into a massive housing development, is set to begin soon following a public review. After investigating the Long Island City site, which comprises an entire block bounded by Jackson Avenue, Davis Street and Crane Street, developer Jerry Wolkoff and his fi rm G&M Realty LP proposed a remedial plan. The investigation results were reviewed by the New York State Department of Health and the Department of Environmental Conservation (DEC). The agencies found that the site “does not pose a signifi cant threat to human health and the environment.” DEC is accepting written comments from the THE COURIER/Photos by Liam La Guerre public about the proposed cleanup plan by G&M Realty until April 11. Residents can review the plan by reaching out to DEC’s Region 2 offi ce at 47-40 21st St. in Long Island City. The site is tainted by metals in soil, including mercury, lead and zinc, according to DEC, as well as organic compound contaminants. The nearly three-acre site was historically known as the Neptune Meter Company, which manufactured water meters from the 1890s until the 1970s. It became the graffi ti mecca later and also hosted other tenants. Following public comments, the state agency plans to revise the cleanup plan, and then the state Department of Health must approve it. After that, G&M Realty can begin cleaning up the site. About two months ago, The United States Patent and Trademark Offi ce denied Wolkoff’s application to trademark the 5Pointz name for the apartment towers planned for the site. Photo courtesy of Modern Spaces A condo at Arris Loft Mention Manhattan in listings for quickest Queens home sales BY LIAM LA GUERRE [email protected] @LiamLaGuerre For many, the 7 train is synonymous with sudden delays and shutdowns, but mentioning the line in a real estate listing could put the property on the fast track to a sale. Queens homes listed with references of easy access to Manhattan, such as the “7 train,” “minutes away,” and “Midtown Manhattan,” sell quicker than others, according to a report by real estate website StreetEasy.com, indicating that many home buyers prioritize access across the East River. “Getting around easily is top of mind for Queens home buyers,” said StreetEasy data scientist Alan Lightfeldt. “The borough’s larger units, new development buzz and relatively lower sales prices are major draws, but buyers jump at listings that highlight a relatively easy commute to the city.” The fi rm analyzed thousands of listings to fi nd which word pairs were associated with the fastest selling properties. “Subway lines” and “short walk” were also among the list of words that contributed to the fastest selling properties in Queens. StreetEasy also performed an analysis to fi nd the best months to lists homes in the borough for the quickest turnaround. March is the best time for sellers to list their properties, according to the analysis, which is based on past supply, demand and sales data on StreetEasy.com. Lightfeldt said historically highest demand for properties in New York City is in April, while top supply is in June. He added that listings sell faster before demand and supply peak. “Properties listed before supply and demand both peak are the ones that hit the sweet spot,” Lightfeldt said. “The discount rate is historically low in March as well, meaning the seller may get a greater share of their original asking price if they list now.” Visit http://streeteasy.com/blog/best-time-to-list-for-sale-nyc/ to see the full report. GOT A HOT REAL ESTATE STORY IN QUEENS? Contact Liam La Guerre Real Estate Editor EMAIL: [email protected] TWITTER: @liamlaguerre
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