First phase of large-scale redevelopment
project in Long Island City offi cially begins
BY ANGÉLICA ACEVEDO
Newmark Knight Frank
(NKF), a leading commercial
real estate advisory firm, has
announced that the large-scale
redevelopment project, Elms
Realty for Urban Yard in Long
Island City, has begun its first
phase.
NKF, who will represent the
Elms Realty project, revealed
that the first phase will consist of
renovating an 87,000-square-foot
office building on 40-09 21st St.
The project is set to create 400,000
square feet of office, retail space
and a parking garage in five connected
buildings surrounding a
large courtyard in LIC.
According to NFK, upon
completion, 40-09 21st St. will
feature 15,000-square-foot floor
plates with oversized windows
on three sides.
Other additions will include a
renovated lobby, tenant amenity
center, large elevators, and outdoor
areas with serene landscaping
and seating. The building
will also be equipped with new
mechanical systems, including
tenant-controlled HVAC.
Urban Yard is located near
the F, N, W and 7 lines. It’s also
a one-minute drive from the
Queensboro Bridge and a fiveminute
drive from the Midtown
Tunnel.
NKF’s Senior Managing Director
Bernard Weitzman and
Managing Directors Ryan Gessin
and Jordan Gosin will represent
ownership.
“We are very excited to
represent Elms Realty for this
very significant redevelopment
project,” Weitzman said. “Once
renovated, Urban Yard and 40-
09 21st St., as the first phase of
the project, will become one of
the finest new available office
options in Long Island City.
Ownership envisions making
Urban Yard an amenity-rich environment
where like-minded
companies can acquire talent,
collaborate and thrive.” A rendering of the 40-09 21st St. redevelopment project by Elms Realty. Photo courtesy of NFK
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