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RIPCO Real Estate has been hired to sell 47-16 Austell Place, also known as the Zipper Building, in Long Island City

RIPCO Lists Long Island City’s Zipper Building 

RIPCO Real Estate has been selected to handle the sale of 47-16 Austell Pl., also known as The Zipper Building, in Long Island City. An asking price wasn’t disclosed. 

Seller EIB Austell LLC is being represented by RIPCO’s Stephen R. Preuss Sr. and Andreas Efthymiou. Built in 1992 and renovated in 2018, the four-story, 51,200-square-foot loft office building has convenient access to both the 7 subway line and the Long Island Rail Road. Current tenants include Joffrey Ballet School, Dr. Smood and Metro Vein Centers. 

“47-16 Austell offers investors the opportunity to own a building with a 15-year ICAP Abatement in place, which commenced in the 20/21 tax year,” said Preuss. “The building is ideally located in the growing creative district also known as the Factory District of Long Island City, which is home to a variety of mixed-use properties specifically in the arts and culture industries.” 

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Inside The Story

RIPCO's Preuss and Efthymiou

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

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