The Real Deal New York

Long Island City Clock Tower is officially a landmark

Property Markets Group to develop a 70-story building next door

May 12, 2015 05:30PM

Clock Tower of Long Island City

The Long Island City Clock Tower

The Landmarks Preservation Commission has unanimously decided that the 14-story Art Deco Clock Tower in Long Island City will be designated a landmark.

The vote comes less than a year after preservationists started a campaign to protect the iconic building, Curbed reported. According to the commission, the tower “represents a significant period of development in Long Island City,” the website reported.

Kevin Maloney’s Property Markets Group bought the building for $31 million last fall, as The Real Deal reported. Next door, PMG is planning to build a 70-story residential tower, which will be the tallest structure outside of Manhattan.

The Clock Tower, designed by Queens native Morrell Smith, was built in 1927 and was used as the Bank of the Manhattan Company Building. [Curbed] — Claire Moses