Search
 

Citibank To Sell LIC Parcel, Office Space

NEW YORK CITY—The bank is expected to get offers of more than $140 million for the site, which likely will become a multifamily project.

By Rayna Katz | Updated on February 24, 2015

NEW YORK CITY—GlobeSt.com has confirmed that Citibank is selling off a development site adjacent to One Court Square—an asset formerly owned by Citi that is now leased by the firm—in the buzzy Long Island City section of Queens. The firm also is selling off the floors it owns at Two Court Square.

As part of the sale, GlobeSt.com has learned, Citibank plans to immediately lease back its Two Court Square office space for several years, leaving its headcount at the building unchanged. Industry sources say the development site likely will become a multifamily complex. Citi declined GlobeSt.com’s request for comment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.