Long Island City
LIC Jewelry Factory Begins Second Life as Loft Offices
A former jewelry factory at 11-20 46th Rd. in Long Island City has come onto the leasing market as a… Read more
NW Queens Apartment Rents Take a Hit as Concessions Hit New High
Thanks to rising landlord concessions, northwest Queens’ median net effective apartment rents slipped by 11.7% for the 12 months that… Read more
Long Island City’s Apartment Boom Continues
Long Island City’s residential development boom of recent years is, if anything, picking up the pace. The LIC Partnership reported… Read more
Lightstone Makes Hilton Garden Inn Buy in LIC
Lightstone has added to its New York City hospitality portfolio with the $60-million acquisition of the Hilton Garden Inn in… Read more
Nespresso Brews Up Deal for New Midtown HQ
Nestle’s Nespresso unit is relocating its North American headquarters to 41,800 square feet at Empire State Realty Trust’s 111 W.… Read more
Hunter’s Point Cardinal Building Acquired, Preps for Reimaging
The Kaufman Organization acquired the Cardinal Building, a 65,000-square-foot property in Long Island City’s Hunter’s Point neighborhood, via a 99-year ground lease. The… Read more
Leasing in Gov’t, NFP Sector Hits Cyclical Peak
New York City’s not-for-profit and public sector reached a cyclical high for both leasing and sales activity in 2017, Cushman… Read more
Q&A with Lendlease’s Melissa Burch: Upside and Challenges in NYC Development
The headwinds facing developers in New York City are comparable to what Lendlease is seeing in other global gateway markets… Read more
“Creative Office” Redevelopers Pay $39M for Long Island City Industrial
Developers paid $39.1 million for an industrial building at 25-11 49th Ave. in the Long Island City neighborhood of Queens.… Read more
Sam Chang Borrows $17M to Buy and Complete Half-Finished Hotel
Sam Chang’s McSam Hotel Group borrowed $16.5 million from Madison Realty Capital (MRC) to buy a development site and complete… Read more
Developers Pay $6.7M to the 5Pointz Graffiti Artists
A federal judge awarded $6.7 million to 21 graffiti artists who once covered the 5Pointz building in Long Island City… Read more
$81M Loan to Transform Vacant Lofts in Long Island City
Normandy Real Estate Partners borrowed $81 million from Deutsche Bank to finance the acquisition and repositioning of 25-11 49th Ave.… Read more
$200-Per-Buildable-SF for Land in Long Island City
The Vorea Group paid $21.65 million for a site that would allow the development of 108,000 square feet of residential… Read more
More Apartment Construction in Long Island City than Any Other U.S. Submarket
Apartment developers are very, very busy in New York. For example: there are more new apartments under construction in the… Read more
Barone Management Breaks Ground on 100K-SF Spec Development
Developer Barone Management broke ground on the first spec development in decades of office and industrial flex space in the… Read more
$23M to Complete Condos at 5-33 48th Ave in Long Island City
Commercial banks are still lending to condominium developments. Circle F Capital borrowed $22.75 million from Centennial Property Finance to finish… Read more
Savanna Plans $35M Rehab at Falchi Building in Long Island City
Savanna plans to spend $35 million to renovate the Falchi Building, a five-story office and retail building in the Factory… Read more
Gotham and RiseBoro to Develop 1,200 Apartments on Hunter’s Point South
City officials picked a team led by the Gotham Organization and RiseBoro Community Partnership to develop two prime, City-owned sites… Read more
CBRE Promotes Michael Lee to Vice President
Michael Lee, a CBRE brokerage professional in the New York metropolitan area, has been promoted to vice president at the… Read more