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Five27 in Long Island City.
Condos in Long Island City are so hot real estate companies may need to hire bouncers for upcoming building openings.
A crazed buyer bum-rushed the door at the opening of Five27, a project in the popular Queens enclave where new construction condominiums are selling at neighborhood highs.
The excited customer was last on a line of 12 to 15 people at the 27-unit building.
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“He ran in by the agent after he was told to wait and tried to start looking around himself,” says Modern Spaces founder Eric Benaim, whose Long Island City-based agency is handling sales. “He hardly spoke any English. He was aggressive and we had to escort him out. I guess he really wanted to get in.”
Located at 5-27 51st Ave. steps to Vernon Blvd. and the 7 train, the building has studios, one-bedrooms, and two-bedrooms with prices ranging from $430,000 to $1.3 million for a penthouse.
Over half the homes are in contract in two weeks of sales. Units have sold for $5,000 to $60,000 more than listing. Already, developers requested nine price increases from the state Attorney General. Square-foot prices in the building have reached $956 — well above the neighborhood average of $870.
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It’s not on the waterfront, but insiders say the waterfront prices for the warehouse-style brick building make sense.
“This is the best facade in Long Island City,” Benaim said, citing other amenities. “There’s not much available so people looking know they have to act fast.”
The bum-rushing buyer was never seen again.
“He didn’t even bid on anything,” said Benaim.
