Real Estate BY ANGELA MATUA Rendering courtesy of Simon Baron Development Luxury Huge loan will help build the newest luxury apartment tower in Long Island City By Angela Matua Quadrum Global and Simon Baron Development have recently secured a $150 million dollar loan from AIG that will go toward the construction of a 42-story tower in Long Island City. Located at 29-26 Northern Blvd., the building will have 467 apartments and amenities such as an indoor swimming pool and fitness center. Construction has already started and the building is set to be finished in early 2018. The real estate development firms have partnered before to erect several apartments at the site of the old Paragon Paint Factory at 45-40 Vernon Blvd., which has been met with resistance by Long Island City residents. Matthew Baron, president of Simon Baron Development, called Long Island City “one of the great emerging neighborhoods in New York City.” “We’re excited to be a large part of the growth here in LIC,” he said in a statement. New Heights This is what the future tallest building in Long Island City will look like www.qns.com i LIC COURIER i January 2017 17 By Angela Matua Architects working on Long Island City’s looming Court Square City View Tower have recently released renderings for the future tallest building in the neighborhood. Flushing-based developer Chris Jiashu Xu filed plans for the mixed-use building at 23-15 44th Drive last February. The plans were altered last May so the building would span 79 stories and 984 feet instead of the formerly proposed 963 feet. But, according to architectural firm Hill West’s website, the plans have been scaled back to construct a 66-story tower with 802 units. The property will still beat out other future towers, including the planned 70-story Queens Plaza Park, which would rise 915 feet. The design is described as “sleek” and “monolithic” and two shades of glass — “neutral blue” and “clear green” — will cover the exterior. A mezzanine lounge will overlook a pool on the third floor and the fifth floor will contain an outside terrace. Other amenities include a fitness center, sauna, spa, yoga room, parking and storage. The rendering also depicts several storefronts on the first floor. Plans show that about 20,000 square feet are allotted for retail on the ground floor. Construction is slated to begin this year and is expected to be completed in 2018. CityRealty first reported about the new renderings. Photo credit MAQE via Hill West The property will still beat out other future towers, including the planned 70-story Queens Plaza Park, which would rise 915 feet.
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