NYC Apartment Tower Without Tenants for Sale as Buyers Swarm
- Developers seek to take advantage of Long Island City demand
- Building approved for rentals or can be converted to condos
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A newly built apartment tower in the Long Island City neighborhood of Queens hasn’t yet opened to the public nor found a single tenant, but the building is for sale.
The developer, Property Markets Group, has put the 45-story tower at 23-01 42nd Road on the market to take advantage of investor demand to own apartments in the area, just across the East River from Manhattan, said Kevin Maloney, the company’s principal and founder.