LIC has been building for years. historically been a lot of traffic congestion in that area going from Manhattan to the other boroughs to access the airports.

I'm the Chief Investment Officer of a Manhattan condominium fund with deep experience in real estate investment banking and equities trading. 

I am also looking at a property that is "luxury" in nature (relatively speaking - not Manhattan luxury, just the rents are $1,100 to $1,500) , and wonder if that's a bad move if the economy turns.

As young people are priced out of Manhattan, Brooklyn & Queens they will continue to seek out relatively less expensive areas like Jersey City that are within easy commute to NYC.

For my day job I design large scale multifamily (100-1000 units, highrises 35-55 stories) buildings in Manhattan, Brooklyn, Queens & the Bronx.

They could do more relatively easily, but the blame for most falls squarely on their own shoulders.Fancy Manhattan apt, private schools, fancy cars, etc. 

There is an event in Manhattan this weekend, I’ve been checking Loopnet religiously for new 16+ unit properties every few hours.

@Jonathan Farber I'm not too far from you although I work in Manhattan during the week.

Property is expensive in Queens because of its proximity to Manhattan.

I will be in New York (Brooklyn and Manhattan) this Thursday and Friday.