New office tower coming to LIC

June 17, 2008 10:31AM

Rockrose Development plans to build an 800,000-square-foot office tower in Long Island City, at a Jackson Avenue spot called 10 Court Square, near the Citibank tower. The asking price for the Skidmore Owings & Merrill-designed tower is expected to be in the $40s to $60s per square foot range because of development incentive programs in the area, including the city’s Relocation Employment Assistance Program and commercial rent tax abatement. Rockrose needs an anchor tenant to lease half the office space to launch the project. It had to buy out 12 property owners that occupied the space in low-rise buildings.

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