Real Estate Weekly
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Retail

RKF gets to work at The Factory

RKF has been selected as the exclusive retail leasing agent for The Factory, a one-million-square-foot, multi-tenant commercial building located at 30-30 47th Avenue in Long Island City, Queens.

Situated in the up-and-coming Hunter’s Point section of Long Island City, and occupying the entire block from 47th to 48th Avenues and 30th Place to 31st  Street, the retail space at The Factory consists of 23,564 square feet on the ground floor and 21,854 square feet on the building’s lower level. RKF Executive Vice President Barry Fishbach and Director Young Kim are bringing the opportunity to market for Atlas Capital Group, who recently acquired the property.

According to Mr. Fishbach, the building’s retail space offers a “unique opportunity” for a restaurant/bar, food commissary, art gallery, furniture retailer, health club or bicycle shop looking to establish a foothold in the emerging commercial district.

“This is a rapidly changing section of Long Island City that is quickly evolving from industrial to a 24/7, mixed-use community, driving up demand for new retail,” said Fishbach. “With thousands of new residents and businesses continuing to flock to Long Island City, The Factory is a transit-oriented property offering incredible value and extremely desirable amenities.”

BARRY FISHBACH
BARRY FISHBACH

Built in 1926 and originally used by Macy’s as a furniture warehouse, the new ownership has commissioned a major renovation to transform and modernize the property into a hub for office, creative and technology tenants. Upon completion, the historically significant, 10-story property will include a newly-designed lobby and food marketplace, a modernized lobby, parking and bike storage, and private roof decks.

The Factory is located near the 33rd Street and Court Square subway stations, as well as the Long Island Rail Road Station at Hunterspoint Avenue. It’s directly adjacent to LaGuardia Community College, which has an enrollment of over 50,000 students, and the historic Falchi Building, which houses technology, engineering and media companies, in addition to cheese shop/café Artisanal Premium Cheese and a number of food vendors at the ‘Food Box’ market. Current tenants at the Factory include Sterling National Bank, Kyocera and Robert F. Wagner Jr. Secondary School.

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