Less wild island: Electric Zoo organizers sell LIC condo for $3M

The 2,300 sf apartment is one of 237 units at Arris Lofts

TRD New York /
Mar.March 14, 2016 05:20 PM

The couple behind the annual Electric Zoo dance music festival sold a comparatively tame Long Island City abode for $3 million, according to property records filed with the city Monday.

Mike Bindra and Laura de Palma, who founded the popular electronic music festival, have owned the three-bedroom condominium unit at Arris Lofts, located at 27-18 Thomson Avenue, for eight years, records show.

The 2,339-square-foot unit — one of 237 apartments at Arris Lofts — features high ceilings and windows with airport glass “ensuring a perpetually quiet living space,” according to the listing. The buyer was not immediately clear, listed only as the Global Settlement Corporation, which is based in Great Neck. Sofia Falleroni of Town Residential had the listing.

Bindra and de Palma paid $2 million for the apartment in 2008, records show.

The “perpetually quiet living space” is in stark contrast to the couple’s neon-infused rager held each Labor Day weekend on Randall’s Island. Reporters descended on the couple’s Long Island City home in 2013 after two festival attendees died from drug-related incidents, the New York Times reported. The deaths caused the couple to cancel the last day of the festival that year. The theme of this year’s three-day event is “Wild Island.”

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