citigroup

City Living, Long Island City

Court Square Library, Queens Public Library, Long Island City

image via Google Earth

Two months after mega-retailer Amazon announced it was walking away from a lease at One Court Square, a Long Island City library branch that occupies space on the ground floor of the 53-story Citigroup building is facing the possibility of eviction according to non-profit publication The City. The lease on the 3,200-square-foot One Court Square branch of the Queens Public Library expires on August 31. The library has paid an annual rent of $1 since the building opened in 1989 as part of a deal with Citigroup, whose lease on the space ends in May of 2020, but a spokesperson for the library has said that the building’s owner has “indicated it is seeking market rent for the library space.” Last year, building owner Savanna was reportedly seeking $55 to $65 per square foot for space in the building.

A valuable community service in jeopardy

Long Island City, New Developments

long island city one court square

Image via LICtalk.com

Long Island City‘s most recognizable tenant is about to sell a prime piece of property in the heart of the neighborhood. According to the New York Times, the financial giant is putting up a one-acre development site, bound by 44th Road, 23rd Street and 44th Drive in Court Square, and it could fetch up to $150 million. Court Square’s proximity to Manhattan and plentiful transit has made the enclave one of Queens’ most sought-after areas for residential development. Mayor de Blasio is all for the sale and has plans of his own to rezone LIC to spur even more construction.

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