JNY Capital, United Hoisting to Develop $175M Office Project in Queens

NEW YORK CITY — A partnership between boutique investment firm JNY Capital and United Hoisting Co. will develop The Oasis, a $175 million office and life sciences project in Queens. The 11-story building will be located at 38-42 12th St. in the Long Island City neighborhood. The Oasis will consist of 343,500 square feet of traditional office and life sciences space, 34,700 square feet of street-level retail space, 30,700 square feet of event space and a 17,000-square-foot rooftop bar/restaurant. The Oasis will also feature 30,000 square feet of terrace and outdoor green space and parking for more than 650 cars. Construction is expected to begin in the second or third quarter of 2021 and to be complete in the third or fourth quarter of 2022. Lee & Associates is marketing the property for lease.