Real Estate BY ANGELA MATUA Women’s fashion line Madewell is moving to The Factory in LIC J. Crew has just leased 60,000 square feet of office space at an increasingly popular commercial space in Long Island City. The space will be the new home for the clothing line’s Madewell division, which previously shared headquarters with J. Crew in the East Village. The 10-year lease features 17,433 square feet on the fourth floor and 42,183 square feet on the 10th floor penthouse, according to the New York Post. The penthouse features 35-foot ceilings, skylights and a roof terrace. The Factory, a 1.1-million-square-foot building that acted as a furniture warehouse for Macy’s in 1926, recently underwent an extensive renovation. Tenants such as Polo Ralph Lauren, Macy’s, Gwynnie Bee — a clothing subscription service, construction company TEI Group and data analysis company Applied Research & Consulting call The Factory home. Atlas Capital, Invesco and Square Mile Capital bought The Factory in 2014 and began a $20 million revitalization soon after. It included electrical and elevator upgrades, new lighting and renovating the lobby with public seating, art and historical artifacts, such as a 19th-century map of Long Island City. “Madewell saw the opportunity to become part of the authentic community we are building within the building,” said Brian Waterman of Newmark Grubb Night Frank, who represented the owners. MIDSIZE APARTMENT COMPLEX WITH EAST RIVER VIEW COMES TO ASTORIA A new boutique condo building is coming to Astoria‘s Welling Court. Once the brown brick structure is finished, it will include 27 apartments, 14 parking spots, a second-floor recreational room, a laundry room and a bike storage space inside the cellar, reports YIMBY. This complex covers a total of 19,475 square feet within the 27 apartments. With all that space, residents in the upper floors can gaze dreamily at the East River from their state-of-the-art glass balconies. The project was designed by architecture studio of Angelo and Anthony Ng from Maspeth. The developer is Astoria-based Halil Todic. But the art doesn’t stop there. The building is surrounded by the beautiful Welling Court Mural Project, first begun in 2010 by the Ad Hoc Art organization. This project looks to add a spark of creativity to the neighborhood as it invites artists both young and old to come appreciate ingenuity and freedom of expression. Ad Hoc Art also hosts a yearly summer block party to celebrate the new editions to the project as artists and residents alike join in on the celebration.
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