Leasing has officially kicked off at The Bridge, a newly renovated commercial property located near the southern boundary of Long Island City. The seven-story building is located at 24-02 49th Avenue and comprises approximately 830,000 square feet.
Redevelopment of the property was led by Innovo Property Group, also known as IPG, and Westbrook Partners. IPG then recapitalized the building in November 2019 through an equity joint venture with Nan Fung Group, a Hong Kong-based property developer and investor.
Fogarty Finger served as executive architect for the project.
IPG is specifically leasing the building’s ground-floor retail space, as well as the fifth and sixth floors. These upper levels measure approximately 105,000 square feet each and can be activated for co-working and shared office use, or as an exclusive duplex office suite. In addition to dedicated elevators and a private lobby, The Bridge also offers potential indoor and outdoor amenity space on the ground floor and the roof, as well as an adjacent lot to accommodate growth.
“Long Island City is an important part of IPG’s portfolio and we believe its popularity will continue to increase in the coming years,” said IPG founder and CEO Andrew Chung. “We are thrilled to officially launch leasing of The Bridge, a building with a vast amount of space that features new amenities and opportunities for growth.”
A CBRE leasing team led has been brought on board to assist in leasing the property.