SB Development and Hazelton Capital Group have secured a $62 million loan to facilitate the completion of Nova, an 86-unit condominium tower at 41-05 29th Street in Long Island City, Queens. Designed by Fogarty Finger, the residential collection will range from studios up to three-bedroom layouts, with no more than five units per floor. The loan was provided by Northwind Group, a Manhattan-based real estate private equity firm.
“This loan was sourced directly by our team in an off-market transaction,” said Ran Eliasaf, founder and managing partner of Northwind Group. “We continue to believe in the long-term success of the NYC residential market and continue to provide loans even in current market conditions to properties and borrowers that meet our underwriting criteria.”
The design team drew inspiration from Manhattan’s Flatiron Building, creating a similar triangular form. The façade will include a mix of pale terracotta and floor-to-ceiling windows at the ground-floor lobby and retail space, and a more typical punched window system above the second floor with dark gray metal accents.
Amenity spaces will include an open-air terrace and an indoor lounge on the roof, a library with an attached terrace, a fitness center, a children’s lounge, pet grooming areas, and bike storage.
Rendering illustrates ground floor and street view of Nova at 41-05 29th Street – Fogarty Finger
Ground floor rendering of NOVA at 41-05 29th Street – Fogarty Finger
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Meh. It’s better than average for new LIC. The triangular shape is its most interesting aspect and that was just luck.
More than meh.
Given the constraints of the site, the architects were successful in creating a sleekly integrated , visually engaging and varied facade, in terms of the massing of window elements, their borders, and the use of coloration / building materials.
Their effort to go a bit beyond the ordinary paid off..
Is the sprawling grassy area in the foreground a planned park or just part of the rendering?
Its part of an MTA property thats just empty land between Sven and the midtown access tunnels