December 4, 2020
JNY Capital and United Hoisting Company have teamed to bring a roughly 425,000-square-foot $175-million commercial project to Long Island City. Known as The Oasis, it’s reportedly slated to be the largest spec office “Passive House” construction project in the country.
The 11-story Oasis at 38-42 12th St. recently entered the pre-leasing stage. The developers — who will build to suit — have targeted it as ideal for biotech, life sciences, media, engineering, commercial office and retail tenants.
The project, which will incorporate retail and event space along with office, is expected to break ground in the second/third quarter of 2021 and slated to be delivered in the third/fourth quarter of 2022.
“We have created an eco-conscious building that offers a safer and healthier office environment for workers to return to and a benchmark for sustainability and innovation,” said JNY VP Moshe Pinsky.
A Lee & Associates NYC team of Mitchell Salmon, Corey Abdo, Catherine O’Toole and Stephanie Moore is handling pre-leasing at the project.
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