43-05 Crescent Street Update 07/09/24

Developer Lands $25.1M Loan for LIC Rental Project

has just secured a $25.1 million loan for a 9-story, residential development, set to rise at 43-05 Crescent Street (alternately addressed as 25-10 43rd Avenue) in Long Island City, Queens. Issued by Ponce Bank, this influx of capital will help to fund construction costs.

Known as "LIC Loft", the building will contain rental apartments and square feet of commercial space. This will likely come in the form of ground-floor retail. Plans also call for a cellar level and a fitness center.

Designed by , the structure will stand feet tall and total square feet. An existing, 2-story commercial building, is currently being demolished in order to make way for the new development.

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