ZL Capital Breaks Ground on 51-Unit Athena LIC Condo Project in Long Island City
NEW YORK, Aug. 26, 2021 /PRNewswire/ -- ZL Capital held a groundbreaking ceremony on August 25, celebrating the start of construction of its new project, Athena LIC.
The Athena LIC in Long Island City is ZL Capital's latest condominium development project. The 9-story boutique building will consist of 51 residential units and 4 retail spaces. Construction is expected to be completed in early 2023.
Project Athena LIC, at 27-20 42nd Road, in the Hunter's Point section of Long Island City, is in an impeccable location. Besides the wide range of dining and entertainment options available nearby, with eight subway lines within walking distance, residents have multiple transportation choices for commutes to anywhere in Manhattan, Brooklyn and Queens.
ZL Capital acquired the Hunter's Point industrial building for $15.5 million in 2020, with plans to transform it into the Athena LIC. Taxi-meter manufacturer Pulsar Technology Systems was the seller.
"Project Athena LIC's mission is to provide its residents with an unmatched quality of life. From the design and the selection of materials and appliances to the completion of construction, we want to make sure that residents feel they have made the right choice every time they step into their home. Athena LIC is where luxury meets comfort, fully meeting quality-of-life expectations," ZL Capital founder, Yu Liu said.
Interested investors can contact ZL Capital's investor relations team at 212-287-5253 or [email protected].
"I love Project Athena LIC because I believe in its intrinsic value. The most convincing thing for me was its prime location, which is always the first consideration when exploring real estate opportunities; second, the developer has always maintained the highest standards when selecting materials and design. Based on these two reasons, I believe there is big upside potential for my investment," Carol Luo, an investor in Project Athena LIC, said.
Long Island City is one of city's fastest growing neighborhoods, ranked by Niche.com as "one of the best places to live in New York." Over the past ten years, LIC's population grew 3x faster than that of NYC overall while the number of jobs located in the neighborhood expanded at more than twice the rate for the city as a whole. A vibrant and liberal culture, home to a growing number of tech companies, 15 bus and 8 subway lines, steps away from a convenient ferry ride to Manhattan's Midtown, best-of-the-borough bars and restaurants, several art museums led by MoMA PS1 and Hunter's Point South Park's 11-acre waterfront open space together make LIC a dynamic place to live and work.
About ZL Capital
ZL Capital LLC, established in 2017 in New York City, is dedicated to investment in and development of the primary real estate market. The firm has a team of committed professionals with decades of experience in real estate private equity management. ZL Capital carries out a detailed due diligence and evaluation process to screen and monitor all its projects to ensure the safety of investors' funds and the success of each project.
Despite the pandemic-driven economic downturn, ZL Capital, as co-developer, completed its latest project - Nexus LIC (41-14 27th Street, Long Island City) during 2020. The project is a 10-story mixed-use building with 32 residential units and 2 commercial spaces. All of Nexus LIC's residential units were sold within 3 months of going to market in November 2020.
To learn more about ZL Capital, please visit: https://www.zl.capital.
Media Contact:
Public Relations
ZL Capital
299 Broadway, Suite 200
New York, NY 10007
[email protected]
212-287-5253
SOURCE ZL Capital
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