Eric and Erica Dean show Pearson Court Square, a 197-unit apartment building in Long Island City with studios through 2-bedrooms. The building has a rooftop sky deck, gym, and parking. A 421a tax exemption expires soon, creating rent-growth potential for investors.
Welcome everyone to the Pearson Court Square. This is a 197 unit apartment building here in the heart of Long Island City. This area is unbelievable. If you have not been out here lately. Erica Dean and I just came from our office on Fifth Avenue, 45th Street. We were here in under 20 minutes. There is so much going on in this area. Just ask Eric who's lived here for several years.
Yep, James. My family and I moved here a few years ago because we were drawn to the Trader Joe's. The target, the number of parks, the preschools. It's really a family friendly neighborhood. The and this building in particular, the Pearson caters to that type of renter. We have families in the building in the spacious two bedrooms, we have studios in ones with our young affluent professionals. The amenities here are top notch with nice places like this rooftop sky deck with one of the best views of Manhattan that you'll get anywhere in the city. And of course the full suite of gym, storage, bike room, parking, everything that you need. This building is really top notch and very clean.
This building was built just under 10 years ago, so we have a 421A that's expiring in a couple years. So you can unlock tremendous potential upside in the rents here and you'll have a truly fair market building. How rare is that today in New York City? So as always, if you want more information you go to avisandyoung.com Tri State Investment Sales.
