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11-36 45th Road
Update
07/27/23
Drilling Begins for 7-Story Mixed-Use Project in LIC
Drilling and excavation work is now underway at 11-36 45th Road, in Long Island City, Queens; a site which will soon be occupied by a new, 7-story, mixed-use building.
Developed and constructed in-house by , the structure is set to contain rental apartments and 22,940 square feet of community facility space. Plans also call for an enclosed parking garage, with enough room for vehicles.
Designed by , the glass-clad development will stand feet tall and total square feet.
The structure will consist of 2-rises, connected by a single-story podium with a courtyard on its roof. The development replaces a 2-story, commercial building, which was demolished a few months ago.
Project financing recently came in the form of a $69 million loan. Issued by BHI, with Be Aviv joining in to provide the mezzanine debt, this influx of capital will be used to fund all construction costs from the ground up.
Sitework is currently in the early stages, but as drilling continues, we should start to see excavation ramp up as well. Construction is ultimately anticipated to finish by the winter of 2025.
