Meridian Negotiates $97M Sale of the Crescent Club in Long Island City
NEW YORK CITY — Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, has negotiated the sale of Crescent Club.
The Class A multifamily property is located in the Long Island City area of Queens and was sold to Weiss Realty for $97 million. Bonjour Capital was the seller. Lipa Lieberman of Meridian Investment Sales negotiated the transaction.
“The Crescent Club offers an exceptional blend of luxury amenities and accessibility in an area that has maintained its historic character,” says Lieberman. “The property has terrific interior design in the common areas and the apartments feature condominium-quality finishes, as well as 10-foot ceiling heights creating a high-end loft feel.”
The 140,000-square-foot property houses 130 apartments, 6,000 square feet of retail space and a 50-space parking garage. Crescent Club contains studio, one-, two- and three-bedroom apartments in addition to duplex penthouse units.
The property’s amenities include a fitness center and outdoor yoga area, a landscaped backyard with an outdoor pool, chaise lounge seating, sunbathing areas, outdoor shower, barbeque and dining areas, business lounge, resident’s lounge with billiards table, catering kitchen, lobby and the Sky Club featuring views of the Manhattan skyline. It was built in 2012.
Located at 41-17 Crescent St., residents of the Crescent Club are near the N, Q and 7 subway lines.
Long Island City includes a mix of restaurants, bars and retailers, as well as art and event spaces. The neighborhood also features Silvercup Studios, the largest production studio in New York City.
Meridian Capital Group is a commercial mortgage brokerage firm headquartered in Manhattan with offices in New Jersey, Pennsylvania, Maryland, Florida, Illinois, California and Texas.
— Haisten Willis