Real Estate BY EMILY DAVENPORT MNS Real Estate expands footprints in LIC Move over, Manhattan — Queens is becoming the borough to beat in terms of residential and commercial development. Companies such as MNS Real Estate are recognizing the potential of settling down, commercially or residentially, in Queens. In particular, MNS is seeing the potential of Long Island City. MNS was founded in 2006 by Andrew Barrocas. As the CEO of MNS, Barrocas has grown the company to have more than 125 people. The company is based in Williamsburg, but MNS has been taking the opportunity to expand its work into Long Island City. “It’s a great market. There are a lot of positive signs for it,” said Barrocas, who noticed how Long Island City is growing in terms of commercial and residential real estate. “One thing that Long Island City has that others don’t is that it’s gaining a lot of commercial tenants.” It’s true — more shops and industries have been settling down in Long Island City. For example, in the past couple of years, fashion companies such as Macy’s, Ralph Lauren and Brooks Brothers have been taking office space in LIC, making the neighborhood into the leading fashion district in Queens. More families are also starting to move to Long Island City as well, and MNS is making strides to give incoming residents a place to settle down. MNS has many upcoming residential projects in Long Island City. One of them is called 5Pointz, located at 45-46 Davis St. With 1,200 rental units available, it offers the most rental space out of all of MNS’ rental projects in Long Island City. MNS is also working on a project called Tower 28, located at 42-12 28th St., which will feature 479 rental units. Additionally, MNS is in the works of opening rental units at 44-72 11th St., which is currently leasing, and rental units on Northern Boulevard, 36th Street, and Crescent Street. This is not the first time MNS has reached out into the Long Island City market. MNS also has rental properties at Jackson Avenue (26-14 Jackson Ave., 94 rental units), 11th St (46-09 11th St., 70 rental units), Queens Plaza (41-26 27th St., 66 condo units), Echelon (1311 Jackson Ave., 54 condo units), and View 59 (24-15 Queens Plaza North, 44 condo units). So what does the future hold for Long Island City? With its growing industry, proximity to the subway, and amazing views of the highrise buildings in Manhattan, Long Island City is quickly becoming the place to be whether you want to settle down in Long Island City or open an office space. “It’s starting to come into its own,” Barrocas said. “I believe you’ll see continued growth in the area.” MNS Queens Rental Market Report Snapshot Average Prices (as of May 2016): LIC Studios $2,430 • LIC One-Bedrooms $2,947 • LIC Two-Bedrooms $3,758 For info on our listings and upcoming projects call us at 212-475-9000 SPONSORED STORY
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