Long Island City

New Owners Plan Commercial-Office Renovation at Seven-Story Property, 24-02 49th Avenue, Long Island City

11:00 am on July 26, 2016 By Reid Wilson

Innovo Property Group and Westbrook Parters have acquired, for $195 million, the seven-story, 640,000-square-foot office-industrial building at 24-02 49th Avenue, in southern Long Island City. The purchase was financed with a $136 million mortgage, Commercial Observer reported. The building is nearly completely leased, with the New York City Housing Authority (NYCHA) occupying 480,000 square feet across five floors. The new owners plan to not renew NYCHA’s lease, which expires in 2020. The plan is to renovate the property to include modern and creative office space. The property is right across the street from the Hunters Point Avenue station on the 7 train and the Long Island Rail Road.

Ten-Story Hotel Over Halfway Up at 29-12 40th Avenue in Northern Long Island City

4:00 pm on July 22, 2016 By Vitali Ogorodnikov

A hospitality haven is rapidly rising at the northern fringe of Long Island City, in an area that overlaps into Dutch Kills to the east and Ravenswood to the west. Despite its convenient location just minutes away from Midtown via subway, the neighborhood north of Queens Plaza was largely ignored by the city and developers for most of the 20th century. During that time, local street character ranged from quiet residential enclaves to fenced-off commercial and industrial facilities to seedy, crime-ridden nooks that the casual visitor best stay away from. Since Long Island City has become one of the city’s hottest neighborhoods, a dozen hotels sprung up within its northern portion, with several more currently in progress. Upon completion, the 10-story one at 29-12 40th Avenue, which will be run by a yet-to-be-announced operator, would bring 75 rooms to the booming neighborhood.

Two-Story, Two-Unit Mixed-Use Building Filed At 86-01 Range Street, Queens Village

3:00 pm on July 22, 2016 By Reid Wilson

Property owner Syed S. Hassan has filed applications for a two-story, two-unit mixed-use building at 86-01 Range Street, located on the corner of Hillside Avenue in the Ballaire section of Queens Village. The structure will measure 6,278 square feet. It will host 1,860 square feet of medical offices on the ground floor, followed by two residential units on the second floor. The units should average 930 square feet apiece, indicative of family-sized configurations. There will also be three off-street parking spaces, one of which will be housed in a 280-square-foot garage. Nasir J. Khanzada is the applicant of record. The 50-foot-wide, 5,000-square-foot property is currently occupied by a two-story, single-family house. Demolition permits were filed in last December.

10-Story, 79-Unit Residential Building Tops Out at 41-29 24th Street, Long Island City

1:00 pm on July 22, 2016 By Reid Wilson

Since being two stories up in January, the 10-story, 79-unit residential project under development at 41-29 24th Street, in the Queens Plaza section of Long Island City, has topped out. A picture of the construction site…

10-27 47th Road, rendering by Jorge Mastropietro Architects

Revealed: Long Island City Townhouse at 10-27 47th Road

7:00 am on July 13, 2016 By Rebecca Baird-Remba

Most of the new construction in Long Island City dwarfs what it replaces, whether the new buildings are 50-story towers or mid-rise apartment buildings. However, every once in a while, someone tears down a wood frame house to build a slightly larger townhouse.

38-23 28th Street, image via Google Maps

Permits Filed: 38-23 28th Street, Long Island City

7:00 am on July 12, 2016 By Rebecca Baird-Remba

Brooklyn and Queens may already have more hotel rooms than they need, but developers keep building hotels in Long Island City. Last week’s crop of filings brought plans for a five-story hotel at 38-23 38th Street, between 38th and 39th avenues in the Dutch Kills section of the neighborhood.

Reveal for Two-Tower, 1.1-Million-Square-Foot Office Complex at 28-07 Jackson Avenue, Long Island City

6:30 am on July 12, 2016 By Reid Wilson

A rendering has been revealed of Tishman Speyer’s planned two-tower, 1.1-million-square-foot office complex at 28-07 Jackson Avenue (a.k.a. 28-10 Queens Plaza South), in the Queens Plaza section of Long Island City. The towers – dubbed One and Three Gotham Center – will stand 27 stories, or 396 feet, in height. As YIMBY reported in June, new building applications indicate a common four-story base will include roughly 30,000 square feet of retail space, restaurants, a food hall, and a parking garage for cars and bikes. The rendering also depicts an outdoor terrace on the fifth floor. 800,000 square feet of office space in the complex has already been pre-leased. One tenant includes WeWork, which is set to take 250,000 square feet. Another is Bloomingdale’s, which has reserved 550,000 square feet of office space, Crain’s reported. Doha-based Qatari Diar is co-developing the project, while Financial District-based MdeAS Architects is designing. Excavation is expected to begin in early 2017, with completion scheduled for 2019. One and Three Gotham Center will join the 22-story, 700,000-square-foot Two Gotham Center located immediately to the north. Tishman Speyer developed that in 2011.

The Hunters Point Library, photo by Tectonic

Hunters Point Library Takes Shape on Long Island City Waterfront

7:00 am on June 30, 2016 By Rebecca Baird-Remba

The partially affordable towers of Hunters Point South have formed a neighborhood within a neighborhood in Long Island City, and like any thriving community, they need a library. Now, the new library, with its unique cut-out design, is coming along nicely on the East River waterfront.

Office Conversion Planned for Four-Story Industrial Building at 47-25 34th Street, Long Island City

11:00 am on June 22, 2016 By Reid Wilson

Metropolitan Realty Associates and TIAA are in contract to acquire the four-story, 342,000-square-foot industrial property at 47-25 34th Street, located on the corner of 48th Avenue in the Dutch Kills section of Long Island City. The property is being sold for $90 million, according to Crain’s. The eventual new owners plan to convert the building into modern office space to the tune of more than $10 million. The property is currently 55 percent vacant, with the occupied portion is being utilized as warehouse and showroom space. The sale comes two years after Brickman acquired the building for $60 million. Future office tenants will be located two blocks from the 33rd Street stop on the 7 train.

Liv@ Murray Park South, 11-30 45th Road, Long Island City, Tops Out at Six Stories High

6:30 am on June 14, 2016 By Vitali Ogorodnikov

While the towers rising by the Hunters Point waterfront and around Queens Plaza and Court Square command attention of Long Island City real estate watchers, a number of smaller-scale, residential projects are steadily rising along the quiet, rowhouse blocks between the two development hotspots. In our April 2014 interview, Sam Charney, who is currently developing The Jackson a few blocks to the south, referred to the neighborhood as Hunters Point East. One of such projects is the six-story, 24-unit Liv@ Murray Park South at 11-30 45th Road. Its concrete shell and metal-framed bulkhead have reached their highest point, and the structure awaits curtain wall installation. The building is developed by the Century Development Group and designed by architect Raymond Chan, who is credited with a handful of projects scattered around the neighborhood. Triborough Construction Services Inc. is the general contractor.

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