The Real Deal New York

Sales launch for LIC’s tallest condo

May 14, 2008 12:27PM
By Adam Pincus

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Sales have started on what will be Long Island City’s tallest residential condominium, a 25-story tower slated to open in winter 2009.

The Star Tower, planned by Manhattan-based Roe Development Corp., will contain 180 one- and two-bedroom apartments. They range from about $425,000 to more than $1 million and from 617 to 1,213 square feet.

The high-rise, three blocks from the Citicorp Building, will be among the tallest residential towers rising in Long Island City. Those include the 42-story City Lights cooperative, the 32-story rental Avalon Riverview and the 39-story rental Avalon Riverview North, all on the East River.

The building, located just south of Queensboro Plaza at 28-02 42nd Road, will include a number of luxury amenities, such as a roof-top pool, concierge service and a 5,000-square-foot mezzanine level lawn, the largest such space in the neighborhood.

Roe’s vice president, Robert Roe, said that despite the nationwide housing slump, the market remains strong in pockets of Queens, including Long Island City. About 30 units in the $100 million-plus development sold in the past week and a half, he said.

“The market is always a factor, and you have to look at supply and demand, but certainly areas in Manhattan and outside are still very strong,” he said. “We are seeing new (development) deals even now in Long Island City.”

He said he expected prices to grow from about $725 per foot to as high as $1,200 before the building opens.

Other big projects in the works for the neighborhood include the revitalization of Queensboro Plaza and Jackson Avenue, as well as Gotham Center, Tishman Speyer’s 3.5 million-square-foot office complex. 

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