June 26, 2020
Innovo Property Group (IPG) launched leasing of the top two floors as well as ground-floor retail at The Bridge, 24-02 49th Ave. in Queens’ Long Island City neighborhood. Totaling 830,000 square feet across seven stories, the project offers two floors of approximately 105,000 square feet each, enabling a collaborative work environment.
“Long Island City is an important part of IPG’s portfolio and we believe its popularity will continue to increase in the coming years,” said Andrew Chung, founder and CEO of IPG.
A CBRE leasing team lead by Paul Amrich has been brought on board to assist in leasing the property. “This building is truly exceptional with its large floor plates and proximity to transportation and we expect the leasing campaign to be a huge success,” said Amrich.
The bulk of the property has been leased to the New York City Housing Authority, which occupies 600,000 square feet.
IPG recapitalized The Bridge for $438 million in November 2019 through an equity joint venture with Nan Fung Group.
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