Newmark Grubb Knight Frank (NGKF) has been selected to represent The Center Building in Long Island City, N.Y. on an exclusive basis.
Executive managing director Howard Kesseler and director Jordan Gosin will represent ownership, a new joint venture led by Madison Marquette, which purchased the 450,000 s/f, mixed-use commercial property at 33-00 Northern Boulevard in December 2012.
“The Center Building has an irreplaceable location and a blue-chip tenant base,” said Madison Marquette’s Ryan Colbert. “Howard and Jordan understand this dynamic neighborhood very well and we trust their ability to match our building with the proper mix of tenants.”
The Center Building sits literally above the M and R subway line stops and it is one block from the N and Q subway lines. The building also qualifies for the Relocation Employee Assistance Program (REAP), a New York City tax incentive program. “There is undeniable value given The Center Building’s location, space and amenities,” said Kesseler. “Its high ceilings, fiber optics and full REAP Benefits are extremely appealing.”
Lobby upgrades are scheduled for the property, which already has seen $13 million in capital improvements since 2007, according to Gosin.
There is 24-hour access, a direct meter to Con Edison, backup power, underground parking, as well as concierge and security services.
Immediate occupancy is available for the current vacancies: 38,801 s/f on a portion of the fifth floor and 10,000 s/f on a portion of the sixth floor. The rental rate is negotiable for terms between 10 and 15 years.