Though thousands of residential units are slated to open in Long Island City in the coming year, these developers are bringing in commercial and retail space to the neighborhood.
The Paragon Building, located at 21-00 49th Ave., and the Blanchard Building at 21-10 51st Ave. were recently purchased by Related Companies and GreenOak Real Estate and developers are planning to attract a beer hall and food and retail tenants to the spaces.
VaynerMedia, a digital agency, has signed a lease for 43,000 square feet to house their production studio at the 51st Avenue location. Both buildings will become known as The Point. The building spans 220,000 square feet and will feature an indoor and outdoor lobby cafe and courtyard. The Blanchard Building will be available for occupancy in spring 2017.
The Paragon Building will span 130,000 square feet and will include a penthouse roof terrace. It will also be seven stories and is expected to open in fall 2017.