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Durst Organization Reaches 100% Lease-Up at SVEN in Long Island City

The Durst Organization said its SVEN rental apartment property in Long Island City, the second tallest tower in Queens, has completed a rapid lease-up barely a year after opening. One hundred percent of the market rate apartments at the 70-story SVEN have now been leased.

The lease-up was achieved without any rental concessions, bucking a standard industry practice when opening new residential buildings to secure initial resident, according to The Durst Organization. The owner-developer said SVEN has built a strong base of long-term residents that will contribute to its stability and success.

“SVEN has been recognized for its creative design, modern amenities and unparalleled commitment to sustainability,” said Jody Durst, president of The Durst Organization. “SVEN is the most advanced residential building that The Durst Organization has ever built, and we are proud to be the world’s first LEED v4 Platinum multi-family building with this elite tier of certification.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Lease
  • ◦Development
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