Lightstone’s ARC Is Fully Leased

Lightstone’s luxury rental property in Long Island City leases all 428 units in 10 months

LONG ISLAND CITY, N.Y.Aug. 16, 2018 /PRNewswire/ — National real estate investor and developer Lightstone today announced that ARC, a 428-unit luxury rental property in the Dutch Kills section of Long Island City, is fully leased just 10 months after opening its doors to renters. The building, which offers 50,000 square feet of indoor and outdoor amenities, completed its initial leasing ahead of schedule and at record prices.

Located at 30-02 39th Avenue, ARC houses the largest and most diverse lifestyle-driven amenity program in New York City. The property features a newly opened rooftop pool club with a 70-foot long environmentally-friendly salt water pool, lounges, barbecues, cabanas for outdoor dining, and bocce courts, along with stunning views of the Manhattan skyline.

“We are gratified that our vision for a unique living experience featuring great architecture and design with amenities and activities that create community has been so overwhelmingly received by our new residents,” said Lightstone President Mitchell Hochberg.

As part of its active lifestyle program, ARC features a staffed health club with a state-of-the-art fitness center, spin room, yoga studio, private training facilities, locker rooms, basketball court, and golf simulator.

ARC also offers residents a private courtyard park with a greenhouse for year-round gardening and private events, as well as a residential lounge, library, club room, game room, private and collaborative workspaces, entertainment areas, and a gourmet catering kitchen with private dining. A full-time lifestyle director manages the building’s robust amenity program, catering to the specific needs of each resident.

Additional amenities include a 24-hour concierge doorman; valet services that include dry cleaning and apartment cleaning; bike storage; and an on-site indoor valet parking garage with direct access to the building.

“Today’s tenants are looking for more than just a place to sleep, which is why we put so much   emphasis on the amenities and lifestyle programming at ARC,” said Scott Avram, Senior Vice President of Development at Lightstone. “We’re proud of the multitude of uses, especially the outdoor luxuries including the salt water pool and rooftop lounge.”

Residences include a mix of studios, one-bedroom, and two-bedroom apartments, all of which feature over nine-foot-high ceilings, expansive casement style floor-to-ceiling windows, Bosch appliances, custom cabinets, and quartz stone countertops. Bathrooms feature beautifully-appointed tile with custom brass fixtures. All residences offer in-wall heat pumps with remote digital thermostats and in-unit Bosch washers and dryers.

ARC is conveniently located within walking distance to a number of Long Island City’s best attractions, restaurants, and bars, including Dutch Kills Centraal, LIC Beer Project, M Wells Steakhouse, Dutch Kills Bar, LIC Market, Silvercup Studios, MoMa PS1, and the Fisher Landau Center for Art. ARC’s central location is immediately adjacent to the N and W train stop with access to Midtown Manhattan in less than 10 minutes. Other nearby trains include the E, M, R, and 7 lines.

The American Institute of Architects (AIA) BrooklynQueens and Bronx Chapters recently honored ARC with the 2018 Brooklyn + Queens Design Award (BQDA) People’s Choice Award for Queens.

Additional information on leasing can be requested at www.ARCLivingLIC.com

 

About Lightstone:

Lightstone, founded by David Lichtenstein, is one of the largest and most diversified privately held real estate companies in the United States. Lightstone is active in 28 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With over 175 existing properties, Lightstone’s $3 billion portfolio currently includes over 6 million square feet of office, retail and industrial commercial properties, over 15,000 residential units, and 4,000 hotel keys. Lightstone also owns over 12,000 land lots across the country.

Headquartered in New York City, Lightstone continues to grow its development portfolio with approximately $3 billioncurrently under development in the residential and hospitality sectors spread across New York CityLos Angeles, and Miami.

 

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August 16, 2018