BY JACKIE STRAWBRIDGE
A 12 year endeavor to bring a slew of luxury residences to the Long Island City waterfront saw a swift culmination this summer.
TF Cornerstone announced Monday that 4610 Center Boulevard, the sixth and final building of their East Coast development, reached 100 percent occupancy after five months on the market.
The 26-story, 584-unit tower is located in front of Long Island City’s iconic Pepsi Cola sign. 6,000 people now reside in all six waterfront buildings, according to TF Cornerstone.
At 4610 Center Boulevard’s Grand Opening in June, TF Cornerstone chairman Tom Elghanayan said he expected the building to lease up in seven to eight months. Sofia Estevez, TF Cornerstone executive vice president, said Tuesday that she was not surprised the leasing finished as quickly as it did.
“I think we were certainly helped by the fact that there was always pent up demand,” Estevez said. “They were lining up before we opened the door.”
Estevez also noted that two of the development’s other buildings – 4615 and 4540 Center Boulevard – reached 100 percent occupancy more rapidly, in about four months. “That was remarkable,” she said.
“The incredible speed with which these buildings fill up is really, really something to marvel at,” Councilman Jimmy Van Bramer (D-Sunnyside) said at the grand opening. “Everybody wants to come to Long Island City, live in Long Island City.”
For Estevez, one of the more significant aspects of 4610 Center Boulevard’s lease-up was that the bigger, more expensive units were nabbed before the studios.
“In all my years opening buildings, I’ve never had that experience before,” Estevez said. She suggested that the neighborhood’s suitability for families, including the nearby elementary school and playground, caused this shift.
TF Cornerstone’s work in the area is not finished. The firm is also developing phase two of Hunters Point South, a 5,000 unit waterfront complex also in Long Island City.
Reach Jackie Strawbridge at (718) 357-7400, Ext. 128, firstname.lastname@example.org or @JNStrawbridge.