Leasing launches at Queens’ second tallest tower, with rentals priced from $2,950/month
Leasing officially kicked off this week at the second tallest building in Queens, a 71-story rental in Long Island City. Located at 27-29 Queens Plaza North, the building, dubbed Sven, has 958 apartments, with a mix of studios to three-bedroom units priced from $2,950/month. Originally expected to become the borough’s tallest building when plans were announced, the tower was surpassed by the Skyline Tower in 2019. Not only do the rentals come with stunning skyline views, but the building is the first in New York City to offer “Spireworks,” an app that lets users change the colors of lights at…
Date 2021-11-19
Author Devin Gannon
New tower gives residents exclusive app that controls NYC spire colors
Residents of a new Queens rental can soon light up the city that never sleeps Sven, a 958-unit Durst Organization property in Long Island City — where 288 apartments are income-restricted — will offer a dazzling amenity far beyond the typical luxury-market trappings of a screening room, a gym and a pool. When leasing soft-launches on Monday, Sven will become the first building in New York where residents can illuminate the tippy tops of city towers — such as the 300-foot spire at One Bryant Park in Midtown — with just the tap of a finger. Every tenant will receive…
Date 2021-11-18
Author Zachary Kussin
2021 Commercial Observer Owners Magazine: Douglas Durst, Chairman at The Durst Organization
Starting about seven months ago, or so, there was a prevalent belief that the worst of the pandemic was behind us We had a vaccine. There was a rollout plan. Jabs were going into arms at a pace (at first) that was the envy of the developed world. Companies confidently predicted that we’d get back in our offices by Labor Day, and many were readying themselves for the greatest nationwide blockparty to hit the U.S. since VJ Day. What the hell happened? Out of the furthest reaches of the internet crawled paranoia, fear, and such a wild distrust of science…
Author Commercial Observer
Durst accuses MTA of stalling East Harlem development
Lawsuit: East 125th Street sites sat vacant while talks dragged on
Date 2021-11-15
Author Akiko Matsuda
Vornado, Trump Refinance 1290 Avenue of Americas With $950M CMBS Loan
JPMorgan Chase, Citigroup, Goldman Sachs and Bank of Montreal have teamed up to originate $950 million in debt to refinance Vornado Realty Trust and Donald Trump’s Midtown skyscraper at 1290 Avenue of the Americas, according to ratings agency analysis of the deal Months after Vornado reportedly wanted to buy out Trump’s 30 percent stake in the 43-story asset, following the the end of his presidency and the Jan. 6 insurrection attempt, the pair have nabbed a long-awaited refinancing, Bloomberg reported, citing recently released data from Kroll Bond Rating Agency (KBRA). JPMorgan Chase took down roughly $475 million, or half, of…
Date 2021-11-09
Author Mack Burke