QSB Northern Boulevard – Long Island City, New York
Quadrum acquired the freehold interest in a site on an off-market transaction in April 2014. The site was acquired fully entitled with a 15 year real estate tax exemption and has been developed into a luxury, high-rise rental property with 100% free market units.
The site is well located in the Long Island City submarket of Queens and is immediately adjacent to three subway lines (Q, E, 7) providing three or four stop access to Manhattan and easy connections to the rest of the city. Additionally, the site offers close proximity to Roosevelt Island, the location of Cornell University’s future $2 billion Tech Campus.
Demolition is complete and construction is underway. Once developed, Northern Boulevard will have 467 units averaging 729 sf plus 20,500 sf of retail space and 91 parking spaces. The development will offer spectacular Manhattan views and one of the most comprehensive amenity packages in the area.