Renderings courtesy of Tribeca Investment Group
A 100-year-old property in Midtown South will be reimagined as a modern office building with courtyards and terraces, flexible workspace, and lots of greenery, amenities the owners hope will draw tenants back to in-person work post-pandemic. Tribeca Investment Group, PGIM Real Estate, and Meadows Partners announced this week plans for a $350 million redevelopment of 295 Fifth Avenue, also known as the Textile Building. The owners acquired a 99-year ground lease for the 17-story building in 2019 for $375 million.
Find out more
Luna LIC has kicked off leasing on its 124 rental homes priced a fraction less than similar units in Manhattan. Situated one subway stop from Midtown at 42-15 Crescent Street within the Queens Plaza section of Long Island City, the leasing team for a limited time is offering a month’s free rent and no broker’s fee for incoming lease signors. Current availabilities specify net effective rents beginning at $1,962/month for studios, $2,399 for one-bedrooms and $3,599 for two-bedrooms.
Find out what these prices get you
Watch out Hudson Yards, Midtown is moving east to Queens. Long Island City is sprouting a small city worth of skyscrapers, ushering in thousands of new residents, hundreds of hotel rooms, and a few hundred thousand square feet of office space. To help us visualize the neighborhood’s upcoming transformation, the dynamos at Rockrose Development commissioned visualization experts Zum-3d to produce this exceptionally accurate depiction of the changes afoot. Inspired by the rendering, 6sqft has put together a rundown of the nearly 30 under-construction and proposed projects for the ‘hood.
See the full roster ahead