Case Study

10-27 46th Avenue Office Lofts Long Island City 10-27 46th Avenue Office Lofts Long Island City 10-27 46th Avenue Office Lofts Long Island City 10-27 46th Avenue Office Lofts Long Island City 10-27 46th Avenue Office Lofts Long Island City 10-27 46th Avenue, Long Island City 10-27 46th Avenue Middle Space 10-27 46th Avenue North Space 10-27 46th Avenue North Space 10-27 46th Avenue North Space 10-27 46th Avenue South Space

10-27 46th Avenue

Warehouse to Office Conversion

Location
Long Island City, Queens, NY
Building Size
60,000 square feet
Floors
4 stories

Project
  • Building was 100% Leased at 70% below market rents for one year after acquisition.
  • Conversion of Artist Lofts to Modern Office usage.
  • Full building renovation including new building lobby & entrance, new windows throughout, façade restoration, new elevators, new restrooms, fire & life safety system, building security/key-card access.
  • Launched a successful marketing campaign and leasing strategy for asset.

Results
  • Project completed in 4Q 2018 with YTD 98% of the building currently under lease contract.
  • Tripled rents previously achieved and increased the NOI by 474%.



Before And After

Location

Map for 10-27 46th Avenue

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