June 19th, 2004, 11:06 PM
A suburban style office development in Queens.


Insignia/ESG, exclusive leasing agent, targets single or multiple users for build-to-suit on Northern Boulevard

New York, NY -- (May 7, 2002) -- A new state-of-the-art Class-A office building is set to rise at 30-30 Northern Boulevard in Long Island City as soon as a single tenant or multiple users pre-lease all or a substantial part of the planned 655,000-square foot 15-story property, to be located just north of Queens Plaza between 40th Avenue and 40th Road.

Offering brand new, high-tech office space, a five-minute subway commute to midtown, and rents at nearly a third of the price for comparable space in midtown Manhattan, the building will be developed by New York-based Edward J. Minskoff Equities, Inc. (EJME). The Insignia/ESG team of Richard Karson, Gregory P. Knoop, Eric Engelhardt, John Reinersten, Dina Raynolds, and Roni N. Horenstein has been named exclusive leasing agent, and Perkins Eastman Architects PC has been retained as project architect.

"30-30 Northern Boulevard presents an unprecedented opportunity for a company to occupy a world-class office building, literally minutes from Manhattan, at prices in the mid-20's per square foot," said Mr. Knoop. "It's a very economically seductive scenario. The State and local economic development corporations are providing excellent financial incentives for companies to move to Long Island City. Transportation is already in place with subway connections to Manhattan via the E, V, N, R, W, F and 7 lines, and direct automobile and bus access via the Queensboro Bridge. Plus, the planned East Side Access project, which will enable Long Island Railroad to access Grand Central Terminal, will soon materialize."

According to Richard Karson who was instrumental in establishing Insignia/ESG's Long Island City office several years ago, "This is an unprecedented and highly financially viable opportunity for a Manhattan-based company to bifurcate its operations between the City and Queens."

Mr. Minskoff has plans in place and can construct a state-of-the-art building in as little time as 18 months.

"Our site is not an assemblage and consists of 100,000+ square feet located within two blocks of Long Island City's major transportation hub," said Mr. Minskoff. "What's significant is that the site is close to MetLife's new premises at 27-01 Bridge Plaza. It will also benefit from all the re-development activity expected to ensue in the newly re-zoned LIC district and our tenants will be eligible for the REAP, ICIP, energy programs and rent abatement benefits available through the economic development authorities."

Insignia/ESG is targeting banks, insurance companies and other institutional tenants who need staff offices, a call center, data/tech building, disaster recovery facilities, or payroll/processing location in close proximity to Manhattan. "We're marketing to tenants in midtown, situated between 34th Street and 59th Streets, who seek a cost-effective alternative to Manhattan in which to house satellite or head-office operations."

Amenities at 30-30 Northern Boulevard, among others, will include access to fiber optic systems for high-speed Internet access, cable television access, state-of-the-art security systems, an institutional-quality main entrance lobby with security desk, and parking for 150 vehicles.

Edward J. Minskoff Equities, Inc. owns leases, and manages more than four million square feet of commercial property. It has developed 1325 Avenue of the Americas and 101 Avenue of the Americas in Manhattan, the recently completed regional headquarters building for the Federal Aviation Administration in Queens, and owns a condominium interest at 1166 Avenue of the Americas. The company also manages the IBM building at 590 Madison Avenue, 825 Seventh Avenue and Niketown. Edward Minskoff was formerly chief executive officer of Olympia & York, which developed many of the office buildings in the World Financial Center and more than 27 million square feet of office space throughout the country.

Insignia/ESG is one of the largest commercial real estate services providers in the United States, with comprehensive brokerage, consulting, property management, fee development, investment sales and debt placement operations. The company operates in top U.S. markets, including New York, Chicago, Los Angeles, Boston, Philadelphia, Atlanta, Miami, San Francisco, Dallas, Phoenix and Washington, D.C. Nationally, Insignia/ESG provides services for a property portfolio spanning approximately 230 million sq. ft. Insignia/ESG also delivers advanced commercial real estate services in the United Kingdom through Insignia Richard Ellis, and in France through Insignia Bourdais, as well as through other Insignia subsidiaries in Europe, Asia and Latin America. Insignia/ESG is a subsidiary of Insignia Financial Group, Inc., a publicly traded real estate company listed on the New York Stock Exchange under the symbol IFS.


Stats: Completion: 04 Height:15 flrs GBA: 655,000 sf



June 20th, 2004, 12:04 AM
I look for permits on the NYCDOB site sometimes and nothing so far...

June 20th, 2004, 01:18 AM
This has been talked about for years, but at least it seems to be moving fed finally. I don't really like the design, but at least it's glass and it's starting to create a back office corridor in the area. It's too prime to look as it does. This, plus the mega development across the street of that horrific parking lot will really set the area off. I just hope it really happens. Maybe they can steal some tenants from JC with enough incentives and low rents.

Pretty big floor plates, though. 655k in only 15 floors. Wish it could go to 30, but what can you do?

And I wish they would do something with the Sunnyside rail yards not too far away. I believe it's about 175 acres over there.

June 20th, 2004, 03:25 PM
...Maybe they can steal some tenants from JC with enough incentives and low rents...

...And I wish they would do something with the Sunnyside rail yards not too far away. I believe it's about 175 acres over there.

Maybe they steal tenants from manhattan. I usually don't like offices in the boroughs but if they keep tenants from leaving the city and not go to JC then it is all for the best.

Maybe the rail yards can be use to built with more affordable housing. Queens needs more housing.

June 20th, 2004, 03:31 PM
How close will this building be to Citibank? A couple of blocks?

June 20th, 2004, 05:57 PM
Its good to see some plans going through in LIC. The area will inevitably be built up, I am surprised it has taken this long.

TLOZ Link5
June 20th, 2004, 10:43 PM
How close will this building be to Citibank? A couple of blocks?

A bit further than that. This is a bit before the bridge over the railyards.

February 27th, 2006, 07:15 PM
what ever happened to this one?

February 28th, 2006, 11:58 PM
Hopefully nothing. The design is terrible.