LargaVista Companies is pleased to announce the purchase of 30-10 41st Avenue, Long Island City, an existing 65,000 sf office building adjacent to Sunnyside Yards at the intersection of Northern Blvd. and 41st Avenue. As a long-time owner in Long Island City, LargaVista is excited to play a part in the continued evolution of Long Island City and the Queens Plaza sub-district, in particular.
30-10 41st Avenue’s access to mass transit is superlative and its proximity to midtown Manhattan also provides a unique advantage that many users crave. LargaVista owns the adjacent building at 29-42 Northern Blvd. and is considering a creative office conversion and expansion though exact plans are not yet complete.
“We love the LIC market. It continues to evolve as a center for creative thinking, artistic expression and an ideal place to live and work. We think more and more companies want to feed off that energy and base their operations here,” says Marcello Porcelli, CEO of LargaVista Companies.
Adam Good, the Company’s COO adds, “We are looking at many options with respect to the repositioning of this asset. We not only want to enhance the desirability of this building for commercial tenants, but also activate the base of the building and provide a unique amenity for the surrounding area.”
Financing for the transaction was provided by TriState Capital Bank, a full-service commercial bank serving middle market businesses and their owners, which has established an active presence in New York City.