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.
World Wide Group
Earlier this year, 6sqft showed you new renderings of Archilier Architects’ “Hudson Rise” mixed-use skyscraper planned for Manhattan’s west side. Now the design firm has published their vision for a soaring, super-thin supertall at the former site of beloved dive bar Subway Inn at 151 East 60th Street. Kuafu Properties owns the 28,619-square-foot, six-building assemblage at 143-161 East 60th Street between Lexington and Third Avenues, which they acquired from the World Wide Group last year for $300 million, according to The Real Deal. Kuafu is one of the developers behind the Archilier-designed Hudson Rise development, thus these released renderings may indeed be working images of the planned project.
The slender tower shown would encompass 411,700 gross square feet of area and rise 1,240 feet high, just 10 feet shy of the Empire State Building’s height of 1,250 feet, despite containing just one-fifth of the floor space. The tower would technically be the tallest building on the Upper East Side (by far), but would be 158 feet shorter than nearby 432 Park Avenue in Midtown.
In October, 6sqft reported that a 1,000+ foot condo tower could rise on the former site of beloved dive bar the Subway Inn (which, after 77 years, had to relocate to a site around the corner in August 2014). The news came nearly two years after the World Wide Group bought a six-parcel assemblage on 60th Street between Third and Lexington Avenues. Then, this past summer, World Wide enlisted Cushman & Wakefield to sell the property, “using renderings of a glassy supertall tower and talk of nearby Billionaires Row to sweeten the deal.” Kuafu Properties bought the 19,685-square-foot plot for $300 million in the fall, and now Yimby has uncovered renderings of a glassy, slender tower proposed for the site.
It was almost two years ago that rumors starting circulating that beloved dive bar the Subway Inn would be forced out of its 77-year home in the wake of being purchased by the World Wide Group as one of six parcels on 60th Street between Third and Lexington Avenues. The bar did close in August 2014, but relocated to a new space around the corner on Second Avenue. This past summer, Cushman & Wakefield worked with World Wide to market/sell the assemblage, using renderings of a glassy supertall tower and talk of nearby Billionaires Row to sweeten the deal. Now, the Commerical Observer reports that Chinese developer Kuafu Properties bought the 19,685-square-foot plot for $300 million, getting one step closer to bringing the 1,000+ foot-tall condo to reality.