■REAL ESTATE BY LIAM LA GUERRE [email protected] I @LiamLaGuerre OLD LIC ZIPPER FACTORY WILL BECOME OFFICE AND RETAIL MIX Emmes Asset Management recently bought an old Long Island City zipper factory for $13.5 million, and will begin renovating it to lease as a mixed-use office and ground-floor retail building. The renovation of the four-story former factory at 47-16 Austell Pl. is expected to be completed by the fall of this year. Building renovations include a new façade, lighting, flooring, and development of a rooftop space with views of the Manhattan skyline. The former zipper factory is the latest Queens building Emmes has purchased to convert to office space. Last year, the Manhattan-based firm paid about $30 million to buy Astoria events hall Studio Square from S Hospitality Group and converted it to Offices at the Square, a mixed-use office and commercial space. Photo by Liam La Guerre Citigroup selling huge land near LIC tower Citigroup, which is known for building One Court Square — the city’s tallest building outside Manhattan — is looking to sell a massive development site near the tower, according to a published report. The nearly one-acre development site in Long Island City, which takes up about half a block and is bounded by 44th Road, 23rd Street and 44th Drive, is being marketed by Jones Lang LaSalle. The lot has up to 780,000 buildable square feet and could sell for as much as $150 million, according to the New York Times. Current zoning at the site allows for it to be developed into a mixed-use building with space for residential, retail, hotel or office space.
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