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How Public Transportation Affects Real Estate Development

Real estate developers face numerous factors to coordinate development projects. Location is one of the most significant factors, and when building new units, transportation often plays a big part in rentability and pricing.

New York City is known for its old but efficient and varied public transit options. Here in Astoria, Queens, Literati.NYC takes into account commute times from its units to the nearest available train and bus stations as well as commute times into Manhattan.

The major train lines in Astoria are the N/W lines (incoming from Manhattan, passing through Long Island City and cutting through the western side of Astoria up to Ditmars station) and the R/M lines (eastern section of Astoria that goes through central Queens).

All of Literati Group's 110+ units are located within a 10 minute walking distance to the nearest train stations servicing these lines. Aside from the commute hours and distance to public transit, potential renters look for nearby establishments such as restaurants/bars, laundromats, grocery stores and leisure centers. While historically Astoria has been primarily a residential borough outside Manhattan taking in one influx of immigrants after another (Greeks, Italians, Irish, Eastern Europeans, Arabs), developers today are shifting focus on future developments for an unprecedented young millennial population.

Steinway Street, considered to run along the heart of Astoria, and the major avenues that run perpendicular - 30th Ave, Broadway, and Ditmars Blvd., are now peppered with restaurants, pubs, bars, and shops/workout centers to cater to a young and vibrant population. Bus systems also allow for local transport, in and around Astoria/Queens.

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Roam Co-Living Housing Complex in Bali
Roam Co-Living Housing Complex in Bali

As the millennial generation continues to grow and enter the adult world, trends in housing are changing all over the world. With the ever increasing cost of living, millennials are constantly searching for affordable housing options, as they prepare to enter the secular world and leave the nests they were raised in. Co-living, a recent ...

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10 Types of Roommates From Hell Based on the 7 Deadly Sins

1. Laziness. Messy is one thing, plain old dirty is another. That repulsive roommate who infiltrates the entire apartment including all common areas with their lack of hygiene, mistaking common areas as a public wasteland. Candy wrappers in bathroom floors, toothpaste on bathroom walls, dirty underwear that somehow led its way on random doorknobs.

2 ...

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The millennial generation is finding themselves all grown up and ready for the world. As opposed to the more conservative previous generations, Millennials are more open to different lifestyles and housing options that their predecessors would consider to be less traditional. New housing options such as co-living have been increasing in popularity, and following similar ...

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How easy is it to find an affordable and spacious apartment in New York City? Today, many might find this idea amusing. Why is that? Over the past few decades, the cost of living has skyrocketed, and many have found it tough to find affordable housing in major cities and even outlying neighborhoods. This problematic ...

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The Inseparable Relationship Between Venture Capitalists and Young Startups

In today’s business landscape, especially that of young startups, the role of venture capitalist firms are vital to the future growth and innovation of startups. Entrepreneurs all over generate great business ideas, but without proper funding specifically by VC’s, the ideas cannot materialize. There are currently a total of 700+ private equity companies ...

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Life in Astoria/NYC

Moving to New York is one of the most exciting decisions that someone can make. Living here, there is always something to do, a new restaurant to try, or a new event to attend. The excitement isn’t just limited to Manhattan either; outer boroughs such as Queens have a lot to offer to crowds ...

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Literati Group prides itself in dormitory style accommodations for recent grads, interns and working professionals.
Literati Group prides itself in dormitory style accommodations for recent grads, interns and working professionals.

Co-living

Also known as shared spaces, co-living is an ideal furnished housing option for millennials in New York City. What, exactly, is co-living? Co-living involves shared/communal living with added features, such as work spaces, recreational lounges and extracurricular activities.

With co-living, such as Literati.NYC or WeLive, millennials can save money on housing, and ...