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NKF gives LIC jewelry factory a second chance to shine

Newmark Knight Frank (NKF) has announced the market debut of 11-20 46th Road, a renovated 34,725 rentable square-foot office building in Long Island City.

Senior Managing Directors Bernard Weitzman, Eric Cagner and Associate Director Ryan Gessin are representing the developer, Caerus Group.

Caerus is close to completing the retrofitting of the former warehouse, which included demolition down to the building’s base and adding 19,000 s/f on two additional floors.

“Unlike many buildings in Long Island City, which are large industrial conversions in the Factory district, 11-20 46th Road is for all intents and purposes a brand-new building,” said Weitzman.

The gut renovation encompasses a new lobby, new façade, all new building systems, elevators, floor-to-ceiling windows and large private terraces on the second, third and fourth floors. Floor sizes range from 6,000 to 12,000 s/f.

“We took a defunct jewelry manufacturing facility and turned it into a jewel framed by the spectacular setting of outdoor spaces on every floor and Manhattan’s skyline on the background,” said Nadir Saigol.

The renovation is scheduled to be complete by summer 2018, and the property is eligible for REAP benefits.

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