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Queens, N.Y. — May 2, 2016 — A development partnership led by Curbcut Urban Partners will construct a new, nine-story, 146,000 square-foot mixed-use office, retail, and community facility property at 38-01 Queens Blvd. in the greater Long Island City market of Queens, N.Y.
Aaron Malinsky, president and CEO, Curbcut Urban Partners, made the announcement.
The new development, to be called QB38 Tower, is designed specifically for medical, community-based services, and non-profit uses, given the building’s proximity to the #7 subway/Queens Boulevard buses and convenience to both the Long Island City Central Business District and the highly desirable Sunnyside and Greater Woodside residential communities.
The property fills a void in the growing 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.
The new property is less than a minute’s walk from the subway, providing an easy 15-minute commute to Grand Central Terminal in Manhattan. Typical floor plates will be 18,500 square feet 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.
David Lebenstein, executive managing director of Cushman & Wakefield, is heading up the leasing agency team.
“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,” Laminsky said. "This development draws on our long experience in identifying sites and creating properties that support the economic growth and well-being of local communities.”
Lebenstein added, “Many non-profit and community service oriented tenants have been squeezed out of prime Manhattan markets due to soaring rents. 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.”
The building will include 40,000 square feet of prime retail space being marketed by David Koptiev of Platinum Realty, one of the development partners for the project.
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 successful City Point development in downtown Brooklyn, and 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 that includes retail, a new office tower, and middle school.
