Search
 

Normandy Buys Stake in LIC Redevelopment

NEW YORK CITY—Normandy and Kassabian Realty plan to immediately begin a capital improvement program at the property located at 43-10 23rd St. The capital improvements at the property will include a full gut rehabilitation, new systems, renovation of the lobby and the addition of multiple outdoor spaces.

By John Jordan | johnjordan | Updated on May 30, 2017

43-10 23rd St. in Long Island City 43-10 23rd St. in Long Island City will be converted from an industrial building into an office-loft style property.

NEW YORK CITY—Normandy Real Estate Partners has purchased  an undisclosed stake in the planned redevelopment of an industrial building on 23rd Street in Long Island City.

The real estate operator and investment fund manager headquartered in Morristown, NJ reports that with the capital infusion, Normandy and partner Kassabian Realty plan to immediately begin a capital improvement program at the property located at 43-10 23rd St. The capital improvements at the property will include a full gut rehabilitation, new systems, renovation of the lobby and the addition of multiple outdoor spaces. The redevelopment at the property will transform the industrial building into a Class A loft-style office building.

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.