Olmstead Properties and Newmark Holdings are in contract to acquire the six-story, 225,000-square-foot commercial building at 43-01 22nd Street, in the Queens Plaza/Court Square section of Long Island City. The building currently houses office and design spaces, with Reis Studios, Concept Press, and interior designer Christian Liaigre leasing space at the property. The building is expected to trade hands for more than $60 million, according to Commercial Observer. The new owners plan to renovate the building by upgrading the lobby and replacing the windows and elevators. Roughly 50,000 square feet of commercial space is currently available.
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