$564M Lumen LIC Tower Wraps Exterior Work in Queens

Key Points:

💸 Lumen LIC is a transformative 66-story structure located at 23-15 44th Road.

🏡 The project will yield 938 rental units, including a significant portion of affordable housing.

🏢 High-end amenities are designed to attract tenants in a competitive market.

Exciting developments are underway at Lumen LIC, a striking 66-story mixed-use and residential tower that stands tall at 23-15 44th Road. With a height of 754 feet, this innovative project is poised to dramatically alter the Long Island City skyline, representing a considerable investment from FSA Capital, who secured the site for $200 million in 2022.

Development Overview

Designed by Hill West Architects, Lumen LIC stretches across an impressive 855,400 square feet and will offer a total of 938 rental units. Among these, 282 units will be allocated as affordable housing, tapping into New York City's housing incentives and addressing the growing demand for diverse living options in the area.

Deal Highlights

FSA Capital is spearheading this project, under the creative guidance of Hill West Architects. The site was acquired from Stawski Partners for $200 million in March 2022, and construction is financially supported by a $364 million loan from Wells Fargo. To enhance the leasing process, JLL is on board for office leasing and marketing. In addition, the ground level will feature 17,400 square feet of retail space alongside office facilities on the lower floors.

Residential Layout and Offerings

Residential units commence on Level 4, with each floor accommodating up to 16 apartments. Average unit sizes of 910 square feet align with Long Island City's trend for larger rental options. The strategic positioning of Lumen LIC, situated between 23rd and 24th Streets, enhances its appeal and accessibility through an alternative entrance at 43-30 24th Street.

Amenities That Attract

FSA's approach emphasizes a comprehensive amenities package, designed to establish Lumen LIC as a desirable living space. Notable features include a 75-foot temperature-controlled indoor pool, a luxurious spa with a sauna and steam room, and a full-service fitness center offering a range of activities from yoga to aquatic classes. Pet owners will appreciate the dedicated pet amenity suite, which includes grooming, daycare, walking services, and veterinary visits. Additional perks encompass a business lounge on the third floor, a demo kitchen, a landscaped terrace, and children's play facilities, alongside in-home concierge services for residents.

Convenient Transportation Access

With its proximity to the Court Square station complex, which services the G, 7, E, and F lines, Lumen LIC ensures seamless connectivity to both Midtown Manhattan and Brooklyn, a crucial factor for professionals and commuters alike.

Prospects for Success

Residential occupancy is already underway, positioning Lumen LIC to effectively leverage Long Island City's strong demand for high-rise rental properties. With the growing interest from institutional investors in the region, the scale and mixed-use nature of this project place it among the most significant residential developments in the borough. Anticipated completion is set for the end of 2025 or early 2026, solidifying Lumen LIC's role as a landmark project in the evolving landscape of Long Island City.