NEW YORK, NY - Stribling & Associates, New York's premier residential brokerage, is further expanding into Long Island City with new office space. The firm announced it will open in the new WeWork Center at 27-01 Queens Plaza North, slated to launch in March. According to Stribling's Fourth Quarter 2017 Market Report, the average sales price of property in Long Island City is approaching $1 million, signaling the neighborhood's transformation into a full-service luxury community. Patrick W. Smith, Stribling's Long Island City specialist who joined the brokerage last year, will oversee operations at the new space.
"Over the past decade, Long Island City has experienced growth like no other neighborhood in New York. We felt Stribling needed boots on the ground to fully take part in the exciting evolution here, and WeWork provided the right opportunity to hit the ground running," said Smith.
In addition to a thriving residential market, Long Island City is also home to several large companies including JetBlue's corporate headquarters and Silvercup Studios. There is also buzz surrounding whether LIC, dubbed the fastest growing neighborhood in the country, would be in the running for Amazon's new headquarters. There is also an abundance of transportation options, including the E, F, M, R, N, W, 7 and G trains as well as major cultural institutions such as MoMA PS1 and the Museum of the Moving Image.
"The fact that WeWork is in Long Island City speaks volumes about the neighborhood's tremendous growth. LIC is a vibrant and exciting place to live and work, and space in the middle of it all will allow Stribling to have a physical presence with the flexibility to grow and shift as the market requires," said Stribling President Elizabeth Ann Stribling-Kivlan, adding, "There is no better person to oversee Stribling's foray into LIC than Patrick."
Smith, a longtime Long Island City resident, will draw upon 15 years of experience to help grow Stribling's footprint in Long Island City. In addition to consulting with developers and handling resale transactions, he has tracked Long Island City data for the past 11 years, and created his own proprietary market report. Over the course of his career, he has led teams that sold more than 200 condominiums in Long Island City, and leased-up numerous buildings in Manhattan.
Previously an Executive Vice President with real estate consultancy Nancy Packes, Inc., Smith specialized in the creation of market reports, research, sales, leasing and marketing for high-end residential developments. He has also held similar roles at Brown Harris Stevens Project Marketing.
About Stribling & Associates
Stribling & Associates, Ltd. is a premier residential real estate firm with over 300 agents throughout three locations in Manhattan and one in Brooklyn. As one of the most renowned brokerages in New York, Stribling uses its respected expertise in the current market to provide individualized services to both buyer and sellers. Stribling agents specialize in the sale of luxury townhouses and cooperative and condominium apartments. The company's philosophy is based on professional, personalized services coupled with exceptional knowledge of key residential market trends. Stribling Private Brokerage specializes in the discreet marketing of properties over $5 million and commands a prominent market share in that sector of Manhattan residential real estate. Through strategic partnerships with Miami's Cervera and international estate services firm Savills, Stribling's global reach extends to more than 700 offices worldwide.