Home  /  NYC · Queens  /  Long Island City
Long Island City, Queens · New York City

Long Island City, NY.

Glass towers, one stop to Grand Central, and the densest concentration of new-development condos in the city. LIC is a condo market with its own rulebook - tax abatements, sponsor units, presale ratios. Brian Marchand runs the whole spectrum, warrantable and not.

5.0★ average rating
New-development condo financing
Licensed across New York State
Answers days, nights & weekends
Your Long Island City loan consultant

Home financing,
the way it should be

LIC condos are not hard to finance. They're hard to finance if your lender has never done one. Sponsor control, presale percentages, budget adequacy and abatement math all sit between you and a clear-to-close.

Brian Marchand handles new-development and resale condos across the waterfront and Court Square, including non-warrantable buildings that conventional lenders won't touch. Every number explained before you sign anything.

If a lender denied you over the building rather than the borrower, bring it here. Yes, when other lenders say no.

Brian Marchand, mortgage loan consultant serving Long Island City, Queens NY
What actually moves your number

Three things that decide
a Long Island City payment

In LIC the building's paperwork decides as much as your credit score. Three things to know.

421-a abatements are temporary

Many LIC towers carry a 421-a tax abatement that phases out on a set schedule. Your tax line can multiply over time. Lenders may qualify you on the abated figure, but you should see the full post-abatement number before you commit - Brian shows both.

New development has its own review

Lenders check presale percentage, sponsor-held units, budget adequacy, reserve funding and commercial space ratio. Newly converted and still sponsor-controlled buildings often fail standard warrantability - which doesn't mean no deal, it means a different one.

Jumbo starts sooner than you think

A large share of LIC condos price above the conforming limit, which puts you in high-balance or jumbo territory with tighter reserve and documentation standards. Knowing which side of that line you're on changes your whole strategy.

Getting to know Long Island City

A snapshot of
Long Island City, Queens

~70,000Population
~$1.05MMedian condo price
~$900Typical common charges / mo
Class 2NYC tax class

The fastest-transformed skyline in New York. LIC stacks new-development towers along the East River and Court Square against a still-working industrial grid and a serious arts presence. Buyers here are trading Manhattan square footage for waterfront views, amenities and a commute measured in single-digit minutes.

Pockets & landmarks: Hunters Point · Court Square · Vernon Boulevard · Gantry Plaza · Queens Plaza · Dutch Kills

Population, price and income figures are approximate estimates drawn from public data and recent Queens market reporting, rounded for illustration. Property taxes, maintenance and common charges vary building by building and address by address. Nothing here is a quote or a commitment to lend. Equal Housing Lender.

The real numbers

What it costs to buy
in Long Island City

Condo carrying costs split into two lines - common charges and your own tax bill. Abatements change both.

What the monthly carry looks like
$1.05MMedian condo price
→
~$1,205Est. charges + taxes + insurance / mo*
  • Common charges$900
  • Property taxes, abated (est.)$250
  • HO-6 condo insurance$55
  • Principal & interestRun yours →

*Illustration only, built on the rounded figures above. Your actual taxes, maintenance, common charges, assessments and insurance premium will differ by building and by unit. Principal and interest are not shown because they depend on your credit, program, down payment and the market the day you lock — use the calculator or call me for real numbers. Not a commitment to lend. Equal Housing Lender.

Run your own numbers → Get pre-approved

Property taxes and the abatement cliff

LIC condos are Class 2. With a 421-a abatement running, the monthly tax line can sit near $250; fully phased out on the same unit it can approach $1,000 or more. Ask the seller for the abatement expiration and the step-up schedule - it belongs in your budget, not in a surprise.

Warrantable vs non-warrantable

A building is non-warrantable when sponsor ownership, presales, commercial square footage, litigation or reserves fall outside agency rules. That rules out standard conventional financing, not all financing - portfolio and non-QM programs exist for exactly this, typically with more down payment.

You may not need 20% down

LIC condos work at as little as 5% down on warrantable buildings, high-balance and jumbo above the conforming limit, and non-QM or portfolio financing when a building isn't warrantable. Self-employed buyers can also use bank-statement programs.

See loan programs →
Getting in and out

The Long Island City commute

Commute drives price in Queens more than almost anything else. Here's how this pocket connects.

Seven lines, one neighborhood

7, E, M, G, N, W and the LIRR at Hunterspoint Avenue. Vernon-Jackson to Grand Central runs about 10 minutes.

Ferry and bike

NYC Ferry from Hunters Point to Midtown East and Wall Street, plus the Queensboro Bridge bike path straight into Manhattan.

Why it prices the way it does

It is the shortest commute in the outer boroughs, paired with new construction and amenities. That combination is what carries LIC pricing.

From New York clients

Real buyers.
Real results.

★★★★★
They stayed on top of the contract the whole time and took care of all the financing. Any questions I had were answered within a short time.
DDavid W.
Verified client · Zillow
★★★★★
Answered every question, was available at any time, explained everything, and worked around our anxiety. Truly a five-star experience.
YYolanda S.
Verified client · experience.com
★★★★★
Brian was an absolute pleasure to work with. Super responsive, knowledgeable and compassionate. Thanks for all your help!
SSerena F.
Verified client · Google

Verified reviews from Google & Zillow · See all 166+ reviews →

Good to know

Long Island City mortgage
questions, answered

What is a 421-a tax abatement and why does it matter to my loan?+
It is a temporary property tax reduction granted to qualifying new developments, which phases out over a set schedule. While it is active your monthly tax line can be a few hundred dollars; once it fully burns off the same unit can owe several times that. Lenders may qualify you on the current abated amount, so it is on you to budget for the step-ups. Always get the expiration date and the phase-out schedule in writing.
What does non-warrantable mean and can I still get a mortgage?+
Non-warrantable means the building falls outside Fannie Mae and Freddie Mac condo rules, usually because of sponsor-held units, low presale percentage, too much commercial space, litigation or thin reserves. Standard conventional financing is off the table, but portfolio and non-QM programs finance non-warrantable condos regularly, typically with a larger down payment and a slightly higher rate.
How much down do I need for an LIC condo?+
On a warrantable building, conventional financing can start at 5% down for a primary residence. Above the conforming loan limit you are into high-balance or jumbo territory with stricter reserve requirements. Non-warrantable buildings typically want 15% to 25% down.
Is a condo easier to finance than a co-op?+
Generally yes. A condo is real property with a deed and title insurance, there is no board approval or board package, and lower down payments are available. Condos usually cost more up front for the same square footage, which is the tradeoff.
Can I buy an LIC condo as an investment?+
Yes, though down payment requirements are higher and the building must allow rentals - some restrict them. DSCR financing, which qualifies on the unit's rent rather than your tax returns, is often the cleanest route for investors.
How fast can I get pre-approved?+
Often the same day or the next. You can start your pre-approval online anytime, or book a quick call with Brian.
Are you actually available on nights and weekends?+
It's the single most common thing clients mention. Offers in Queens don't wait for business hours, so Brian doesn't either - call or text and you'll hear back quickly, even after hours.

Looking at other parts of the borough? See all nine Queens neighborhoods →