Rockrose tops out Linc LIC - A $750 million Queens residential complex

Rockrose Development has topped out Linc LIC, its new residential rental complex in the Court Sq. area of Long Island City. The 42-story tower with 709 rental apartments will be completed and ready for occupancy in spring 2013. It is one of the tallest residential buildings in the borough. Two additional Rockrose parcels across the street will be developed sequentially, providing another 1,100 units. Total development costs are estimated to exceed $750 million. Justin Elghanayan, president of Rockrose, said, "I want to thank everyone who helped to achieve this milestone on time, on budget, and most of all, with the highest standards of safety and professionalism." He said, "Our goal is to enrich the vibrant core of the growing Long Island City residential community. These distinctive and attractive new apartments will offer exceptionally convenient access to Manhattan, just a three minute subway ride away." Seven subway lines are located within a three-block radius. In addition to offering convenience, Linc LIC will command sweeping river, skyline and city views in a full range of studio (174), one-bedroom (392), two-bedroom (120) and three-bedroom (23) apartments. Corner units will feature floor-to-ceiling windows, and many apartments will have balconies and washer/dryers. Parking and storage space will also be available. The full service building will offer a full range of amenities, such as a double-height fitness center, basketball and squash courts, tenant lounges, a game room, a children's play room and a roof deck with a great lawn, misting pods and barbecue grills. The area, home to the Citibank building and the United Nations Federal Credit Union, has recently welcomed Jet Blue, CUNY Law School and the New York City Department of Health to the Court Square neighborhood. Linc LIC is designed by Avinash K. Malhorta Architects, with interiors by Moed de Armas & Shannon. The landscape architect is Mathews Nielson. About Rockrose: Rockrose Development Corp. is a family-owned and -operated real estate company with four decades of experience. The company's visionary outlook and hands-on approach as an owner, developer and manager has established it as an industry leader that sets New York's standard for quality real estate. Rockrose has earned a reputation for architectural distinction, sensitivity to local communities and creative management. Many of Rockrose's projects have received favorable public reviews and design awards by landmarks and other governmental agencies. There are approximately 2,800 units in Rockrose's residential-rental portfolio. Rockrose is perhaps best known for developing The Archive residential building at 666 Greenwich Street in Greenwich Village and for developing luxury rental buildings in Long Island City. Rockrose is also known for developing commercial properties, including the trophy office property, Carnegie Hall Tower. Shown (from left) are Rockrose's reception at Linc LIC are: Richard Brancato, Rockrose; Ben Stacks, Capital One; Nora Smith, Judd Emin, Justin Elghanayan, H. Henry Elghanayan, Rockrose; Steve Kenny, Bank of America; William Iwasiw, Wells Fargo; James Mirman, Helaba Bank; and Greg Egli, Bank of America.