CBRE to Lease Long Island City Office Building

February 23, 2023

Opus Point rendering.

Opus Point rendering. Image courtesy of CBRE

CBRE has been selected to head up leasing and marketing for a planned office building in Long Island City, N.Y. The Class A asset, Opus Point, is a 400,000-square-foot project expected to deliver in the second quarter of 2025.

Owned by Dynamic Star, the office property is set to be developed on a 0.59-acre lot, according to CommercialEdge data.

Situated at 23-10 Queens Plaza S., Opus Point will be a redevelopment of the former Eagle Electric Co. headquarters. A public exhibit dedicated to the company is set to be included in the final design, next to the lobby. Also adjacent to the lobby will be a 2,400-square-foot community space on the 23rd Street frontage.

READ ALSO: Office Sector Shifts to Continue in 2023

Amenities at Opus Point will include an 8,000-square-foot ground-floor gym, half-court basketball court, fresh air ventilation system, UV air treatment, touchless building systems and openable windows. An incubator market on the lower ground-floor level is set to have local chefs and artisans using percentage leases. Plans have the market connected to an additional 2,600-square-foot public outdoor roof plaza.

On the fifth floor of the project, a restaurant and bar featuring outdoor seating is planned. Tenants will also have access to an additional 6,000-square-foot indoor recreational space surrounded by a 15,000-square-foot roof garden and a top floor featuring a landscaped terrace, 4,000-square-foot conference space and skyline views.

Floorplate layout designs are 9,400 square feet, 14,400 square feet, 19,800 square feet and 33,600 square feet to offer flexibility to a variety of tenants. The anchor tenant will have access to an illuminated rooftop sign for advertising. Lower and main ground-floor retail tenants are set to include an organic grocery store, café and restaurants.

Located just off the Ed Koch Queensboro Bridge, Opus Point tenants will have access to seven subway lines in four nearby stations. DOT’s proposed Queensboro Bridge pedestrian path can offer more walkability to dining, retail, entertainment and living spaces.

Dynamic Star and SLCE Architects, MG Engineering, MPFP Landscape Architects, Lemay + Escobar Interiors, LIVunLtd and CBRE’s Energy and Sustainability Services team are designing Opus Point to be up to WELL Building Institute’s WELL Building Standard.

John Reinertsen, executive vice president, and Michael Lee, first vice president, will lead the CBRE marketing team for Opus Point.

Long Island City office space faces headwinds

Despite Amazon pulling out of a decision to build a campus in Long Island City, and subsequent economic struggles throughout COVID-19, the area’s commercial real estate market has continued to perform well.

While Long Island City has outperformed some of its negative outlooks, the area did see an office availability increase for the first time in more than a year in the fourth quarter of 2022. According to a Newmark report, the rate rose by 220 basis points to 25.5 percent.

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