Over the past few years and as recently as last spring, progress was slow at the Zipper Building, a Long Island City zipper factory being expanded by three floors and converted to residential at 5-33 48th Avenue. However, a recent site visit and a newly released teaser site show that things have picked up enough for developer Circle F Capital to hint at impending sales on the 40 studio through four-bedroom condos within.
The teaser site has a vintage look as if to reflect how the factory-style windows and red brick façade pay homage to the area’s history. The project will include ground-floor retail and no more than eight units per floor. Plans filed with the city state that residential amenities will include parking places, bike room, storage, and outdoor recreation space. An offering plan accepted in July does not list a sell-out price, but CityRealty data reports that median condo prices in Long Island City range from $680K for studios to $1.9 million for three-bedrooms.
In this article:
Construction in progress as of mid December 2018
The Zipper Building is taking shape across the street from Hunters Point Community Park and a short walk from Gantry Plaza State Park. The Vernon Boulevard-Jackson Avenue subway station is three blocks away to allow for an exceptionally quick commute to Midtown Manhattan. The building is also four blocks directly south of Amazon's future HQ2 location which will encircle Anable Basin.
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Michelle Merritt
Michelle is a contributing writer and editor for real estate news in New York City
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