Long Island City is set to become a hub for office development in the outer boroughs. While some builders hope to put up massive commercial towers like One Court Square, others are creating office space in the neighborhood’s warehouses and loft buildings. One developer, Caerus Group, decided to convert and expand a two-story industrial building at 11-20 46th Road, a few short blocks from Court Square.
The Landmarks Preservation Commission recently approved an application that will see a TriBeCa building grow in height, but not in residential unit count. 51 White Street will go from five stories with 13 units to seven stories with nine units, in addition to office space on the ground and cellar levels.
RJ Capital Holdings is planning to develop an eight-story, 136,000-square-foot commercial building at 107-02 Queens Boulevard, located on the corner of 70th Avenue in Forest Hills.
After two years of negotiations, Related Companies has reached a deal to lease 15 contiguous floors, or 850,000 square feet, to BlackRock, the investment management corporation, at its planned 2.9-million-square-foot, 985-foot-tall office tower 50 Hudson Yards. The building is located along Tenth Avenue, between West 33rd and 34th streets, in the Hudson Yards district.
Boston Properties is conducting a $150 million renovation on the six-story, 200,000-square-foot commercial building at 159 East 53rd Street, in Midtown East. The structure, known as the base component of the 59-story former Citigroup Center at 601 Lexington Avenue, will receive a redesigned façade with larger windows and a new private lobby and entrance. The ground-floor and below-grade retail spaces will also see renovations, as well as the installation of a food hall and dining area, Crain’s reported. A renovation to the public plaza beneath 601 Lexington is also in store. Since the complex was designated an individual landmark on Tuesday, the Landmarks Preservation Commission must approve any exterior alterations. The building is currently vacant.