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Construction progress at The Paragon as of late April 2026 (CityRealty)
In April 2024, when developer ZD Jasper purchased the development site at 45-40 Vernon Boulevard on the Long Island City waterfront, a spokesperson for the deal said, "This is arguably the best development site in all of Long Island City." More recently, new development Paragon represents the combination of parts of the former Paragon Paint Factory and a new 23-story tower that took shape there. The design by Archimaera nods to Long Island City's industrial history with oversized, casement-style windows that promise abundant natural light.
Prices for the 186 apartments will start at $655K for studios, $940K for one-beds, $1.5 million for two-bedrooms, and $2.15 million for three-bedrooms. The building is now in presales with a public launch on the horizon and the first move-ins estimated for Q4 2026.
"This is the only condo that directly touches the water at Anable Basin, and that opportunity hasn’t existed in LIC until now" - Kayla Lee, SERHANT.
Rendering of Paragon (ZD Jasper)
Lobby rendering (Redundant Pixel)
Residents will arrive to an attended lobby, and amenities are set to include a package room with cold storage and Amazon hub, a state-of-the-art fitness center, a golf simulator, an outdoor pickleball court, a children's playroom, a karaoke room, an indoor/outdoor Sky Lounge, and a landscaped roof terrace with BBQ grills. Another perk will be a central address near Gantry Plaza State Park, Culture Lab LIC, popular restaurants lining Vernon Boulevard, and transportation options like the Court Square subway hub and the Long Island City ferry terminal.
CityRealty spoke to Kayla Lee of SERHANT. about Paragon's distinctive design, desirable location, and other factors that set it apart in the Long Island City condo market.
CityRealty: How did you come to represent The Paragon?
Kayla: This project has followed me for a long time. Back when I was at Modern Spaces, I was already involved in early conversations about what kind of rentals should go here. Years later, after I moved to SERHANT., I worked with Jared [White, Managing Director of Quadrum Global, a former owner of the Paragon site] on The Huron, which was his first major residential project.
When The Paragon site came back into play, I was speaking with several developers. ZD Jasper ended up making a bid, and Jared made it clear that he wanted me involved. I had already been pitching him on a number of projects, so it came together naturally. I’m thrilled to represent this building.
CityRealty: What makes The Paragon stand out in the Long Island City market?
Kayla: This is the only condo that directly touches the water at Anable Basin. In Long Island City, especially along Center Boulevard, we’ve seen a huge number of renters and condo residents who have been waiting for an opportunity to buy something like this. That hasn’t existed until now.
We’ve built an interest list of several hundred people, which is something we haven’t seen before. There’s a lot of demand for something that feels new, polished, and elevated in LIC, and this really delivers that.
CityRealty: How would you describe The Paragon in one sentence to a buyer choosing between LIC, Brooklyn, and Manhattan?
Kayla: This is a rare opportunity to own a true luxury condominium on the Long Island City waterfront, with top-of-the-line finishes, in a location where most future buildings will likely be rentals.
CityRealty: The project incorporates elements of the former Paragon Paint Factory. How was that balance achieved?
Kayla: The original paint factory dates back to 1931, and it had a very strong concrete and iron structure. The base of the building reflects that history, with loft-style layouts, higher ceilings around 10 feet, and large, punched-out windows.
As the building rises, the tower transitions into more modern construction with 9.5-foot ceilings and floor-to-ceiling glass. The façade was designed by Archimaera, with MAWD handling interiors, and you’ll notice fins around the windows and a slightly antique tone that references the solidity of the base.
We also brought in subtle color references to the Paragon Paint legacy through materials and finishes, like soft greens and bronze tones, rather than anything overly bold.
We also brought in subtle color references to the Paragon Paint legacy through materials and finishes, like soft greens and bronze tones, rather than anything overly bold.
CityRealty: What can buyers expect from the amenity offering?
Kayla: We have several floors of amenities, and the focus was on creating spaces that people will actually use. There’s a grand staircase, a large amenity level on the second floor, and features like a yoga court and pickleball court on the fifth floor.
We’re also doing things like a karaoke room, which adds personality and makes the building feel more social. The idea was to go beyond typical amenities and create something that feels engaging and different.
CityRealty: How are residences priced and positioned within the market?
Kayla: We’re offering studios through four-bedrooms, starting around $655K. From a pricing perspective, we’re very focused on comps, generally landing in the $1,650 to $2,000 per square foot range.
We also like to reward early buyers. Right now is the best time to come in because pricing will increase over time. As the building progresses and more lines sell, we expect values to rise, particularly for the more desirable exposures.
West-facing units, for example, tend to be the most sought after because of the light and views, while east-facing units get beautiful morning light. The larger two-bedrooms offer generous living space, even if the focus is more on layout than view.
CityRealty: How would you describe the Hunters Point waterfront lifestyle?
Kayla: I used to live on Center Boulevard, and what people often say is that Hunters Point is the original Long Island City. Vernon Boulevard is the main street, and it has a very different feel from Court Square.
Court Square has developed into more of a “mini Manhattan” with transportation and density, while Hunters Point has stayed more residential, cozy, and family-friendly. You have the waterfront parks, tree-lined streets, and a real neighborhood feel.
You’re also just a block from the ferry, with open green space, restaurants, and a strong sense of community. It feels like a small town within the city.
"Hunters Point has stayed more residential, cozy, and family-friendly" - Kayla Lee, SERHANT.
CityRealty: What should buyers know about future development in the area?
Kayla: I always try to be transparent. This is New York City, and if there’s available land, something will eventually be built. I encourage buyers to look at resources like the LIC Partnership to understand what’s planned.
That said, the Paragon site itself is being designed with a lot of thoughtful outdoor space. On the south side, there will be a lush, landscaped garden, and on the north side along the inlet, there will be retail and public-facing outdoor areas with seating and greenery. It will connect nicely to the waterfront and Gantry Plaza State Park. Even as the neighborhood evolves, the goal is to enhance the experience of living here, not take away from it.
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