Caerus Group Retrofits Former Long Island City Facility
- May 24, 2018
Caerus Group has converted a former jewelry warehouse in Long Island City into a 34,725-square-foot office building. Newmark Knight Frank announced the market debut of the development on behalf of the developer, who performed a complete retrofit of the facility. Caerus is close to completing the project, with renovation scheduled to finalize by this summer.
Located at 11-20 46th Road, the four-story building offers views of the Manhattan skyline, half a block away from MoMA PS1 and near major transportation lines. The transformation entailed the demolition of the building’s base and the addition of 19,000 square feet of space on two floors. C3D Architecture was the designer of the new property.
The renovation process included a new lobby and facade, all new building systems, elevators and windows, high ceilings and large private terraces on the second, third and fourth floors. Each floor spans between 6,000 to 12,000 square feet.
Vacant office space
The boutique office building is currently available to prospective tenants. NKF Senior Managing Directors Bernard Weitzman and Eric Cagner and Associate Director Ryan Gessin were part of the team that acted on behalf of the developer. This is not the first time the two companies worked together. Last year, NKF Capital Markets arranged a $59 million financing for a Caerus Group-owned asset in Manhattan.
“We took a defunct jewelry manufacturing facility and turned it into a jewel framed by the spectacular setting of outdoor spaces on every floor and Manhattan’s skyline on the background,” said Caerus Group Project Manager Nadir Saigol, in prepared remarks.
Image courtesy of Caerus Group