Keystone Buys Retail Condo in Long Island City
Keystone Equities is pleased to announce our closing on the purchase of the vacant retail condo unit at 42-60 Crescent Street in the new Factory House development in Long Island City, New York. At closing, Keystone signed a lease for the 2,245 square foot bi-level space to an experienced restaurant tenant.
Long Island City has been experiencing tremendous growth (with over 20,000 residential units and over 4 million square feet of office space in the development pipeline). However, the area still lacks sufficient retail that is needed to cater to this growth. Keystone is confident that the condo unit will further appreciate in value and generate attractive investment returns as demand in the surrounding area continues to increase.