A development partnership led by Curbcut Urban Partners will construct a new, nine-story, 146,000 s/f mixed-use office, retail and community facility property at 38-01 Queens Blvd. in Long Island City.
Aaron Malinsky, president and CEO of Curbcut Urban Partners, said the new development, to be called QB38 Tower, is designed specifically for medical, community-based services and non-profit uses.
Non-profit brokerage veteran David Lebenstein, executive managing director of Cushman & Wakefield, is heading up an exclusive leasing agency team that includes Robair Reichenstein, Debra Wollens and Michael Blanchard of Cushman & Wakefield.
“This represents the first new development of modern, efficient office and community space in the area in more than a decade, and is specifically designed with the needs of community facility, medical and cultural non-profit users in mind,” said Malinsky.
“This development draws on our long experience in identifying sites and creating properties that support the economic growth and well-being of local communities.”
According to Malinsky, the property fills a void in the Sunnyside/Long Island City neighborhood for new, high-quality and efficient commercial space specifically geared toward medical and non-profit users that want modern space, great transportation and cost-effective solutions.
The glass and steel property will offer flexible, high-ceiling space for lease or for commercial condominium purchase. Located less than a minute’s walk from the subway, it provides a 15-minute commute to Grand Central Terminal.
Typical floor plates will be 18,500 s/f and dedicated ground floor entrances are available for large tenants. Scheduled for a Spring 2018 delivery, the project offers a 25-year ICAP real estate tax abatement and features rooftop amenity space and outdoor terraces, as well as indoor, on-site parking and bicycle storage.
“Many non-profit and community service oriented tenants have been squeezed out of prime Manhattan markets due to soaring rents,ˮ sai9d Lebenstein.
“Others are looking to capitalize on the Manhattan sales market and sell older buildings in favor of brand new space just minutes away by subway. This project is unique in the welcoming approach taken by the developers to respond to tenant needs through custom design and deal structure.”
Space is available for lease or sale.
The building will include 40,000 s/f of retail space being marketed by David Koptiev of Platinum Realty, one of the development partners for the project.
“A variety of community related retail uses are being considered for the space that will be geared to fill the service and shopping needs of both office users and the surrounding residential communities in Sunnyside and greater Woodside,” said Koptiev.
Curbcut Urban Partners is a private, family owned New York-based real estate acquisition and development company with more than 40 years of success in building visionary and cutting-edge properties.
Recent projects include the City Point development in downtown Brooklyn, Throggs Neck Shopping Center, River Plaza and Fordham Place in The Bronx, a mixed-use development on the site of the old Sears Building on Fordham Road in the Bronx that includes retail, a new office tower and middle school.