Brand new Long Island City rental tower in Opportunity Zone tower hits the market

Building at 41-32 27th Street is known as Steel Haus
By Eddie Small | June 28, 2019 07:00AM

Steel Haus at 41-32 27th Street in Long Island City

Steel Haus at 41-32 27th Street in Long Island City

A brand new luxury apartment building from the Hakimian Organization in Long Island City is hitting the market, according to sources familiar with the property.

The building at 41-32 27th Street is known as Steel Haus and stands 15 stories tall with 46 units. It includes a 15-year 421a tax abatement and is located within an Opportunity Zone. The building is expected to fetch in the $40 million range, sources said.

Cushman & Wakefield's Stephen Preuss

Cushman & Wakefield’s Stephen Preuss

A Cushman & Wakefield team led by Stephen Preuss is marketing the property, which spans about 30,000 square feet overall.

The building is still without a temporary certificate of occupancy but construction is completed.

The Hakimian Organization purchased the site in 2014 for $5 million, according to property records.

The company recently purchased a development site in Woodside for $33 million where it plans to build a mixed-use project. It also landed a $240 million mortgage from JPMorgan Chase and Citi Real Estate Funding for its Hell’s Kitchen office building at 636 11th Avenue.