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TF Cornerstone Starts Leasing Market Rate Units at Hunters Point South in LIC

TF Cornerstone’s two-tower development on Parcel C at Hunters Point South. (Rendering courtesy of TF Cornerstone)

April 28, 2021 By Christina Santucci

Real estate development company TF Cornerstone announced Tuesday that it is now leasing market rate apartments at one of its new towers at Hunters Point South in Long Island City.

The apartments on offer are in its 45-story building at 52-41 Center Blvd. — part of TF Cornerstone’s two-tower development at Hunters Point South. Leasing at the other tower, the 55-story building at 52-03 Center Blvd., is expected to begin later this year.

The towers, which were designed by international architects ODA, have a total of 1,194 new residential units—with 60 percent of the total units to be permanently affordable to low, moderate and middle income residents.

The 52-41 Center Blvd. building, known as the south tower, contains 209 market rate apartments as well as 185 affordable units. The application period for the affordable apartments in that building ended last year.

The market-rate units listed at 52-41 Center Blvd. range in price from $3,520 for a one bedroom, one bath apartment to $5,990 for a two bedroom, two bath unit. However, special deals, including two months free rent are being offered.

The units hit the market at a time when the rental market is in a slump, given the pandemic. Multiple reports indicate that rental prices have fallen by approximately 15 percent in northwest Queens in the past year.

TF Cornerstone is marketing the apartments by highlighting their unobstructed views of the East River and Manhattan, their modern finishes, flexible layouts, large closets, private outdoor space and in-unit washer dryers.

Amenities in the buildings include terrace, roof, BBQ and sun decks as well as clubrooms, fitness centers, yoga studios, a lounge, children’s playroom, laundry facilities, bicycle storage and a co-working space, called HomeWork.

Residents of 52-41 Center Blvd. who opt into the amenity program will also have access to the amenities at 52-03 Center Blvd. when that tower opens.

The 55-story north tower will have 534 affordable and 266 market-rate units. The affordable housing lottery for these units has yet to be held.

TF Cornerstone also noted that the two towers are anchored by a new half-acre park designed by Mathews Nielsen Landscape Architects.

“Living on the Long Island City waterfront, surrounded by nature, while having the city that never sleeps only a train stop away, is a miracle of proximity and practicality,” said Zoe Elghanayan, principal and senior vice president at TF Cornerstone, in a statement.

“The breeze, the light, the trees, and the open space are rejuvenating in a way that we never fully recognized before the pandemic.”

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