JNY Capital and United Housing Company are working in collaboration on The Oasis, the country’s largest-ever Passive House office building at 38-42 12th Street, near the northern boundary of Long Island City. From Brooklyn-based design studio Archimæra, the building’s Passive House standard construction will incorporate extremely efficient mechanical and electrical systems, a low-emissivity glazing system that reduces energy costs related to interior temperature management, solar panels, and LED light fixtures, as well as an efficient building envelope and modern ventilation systems that work in tandem to improve indoor air quality.
“We are incredibly excited to bring to market a building that is a game-changer for the future of the city,” said Moshe Pinsky, vice president at JNY Capital. “We have created an eco-conscious building that offers a safer and healthier office environment for workers to return to and a benchmark for sustainability and innovation.”
The structure will comprise 425,000 square feet with a final height of 11 stories above grade. Interior volumes include 343,500 square feet of office space, a 17,000-square-foot roof deck that will accommodate a bar or restaurant, 30,700 square feet of event space, and 34,700 square feet of ground-floor retail.
Future tenants will also have access to 30,000 square feet of outdoor space, indoor dining options, and on-site parking for more than 650 vehicles.
Construction is expected to break ground in the second or third quarter of 2021. The anticipated date of completion is slated for the third or fourth quarter of 2022. Overall construction costs for the project are estimated at $175 million.
The property will be marketed primarily to biotech, life sciences, media, and engineering companies. Lee & Associates NYC has been retained as the exclusive broker to market The Oasis.