Brooklyn, NY A new retail and office project is in the planning stages in Long Island City. According to project manager Michael Doyle, the new property is a 4-story mixed use building with sleek frameless storefront glass windows along the first floor façade.
The first floor will contain a retail tenant, geared specifically to food outlets. In the back will be an open courtyard for eating. The office design façade design includes five vertical steel columns framing a horizontal sunscreen on this architectural façade.
The project is located at 31-25 Thompson Ave., across the street from LaGuardia College area.
The project will break ground early Fall.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,