Long Island City, NY – February 19, 2019 – Cushman & Wakefield announced today that the real estate services firm has arranged a new full floor lease at the Lion Match Building located at 22-15 43rd Avenue in Long Island City, NY. Tri-County Care will occupy the entire top floor of the property totaling 17,060 rentable square feet (rsf).
A Cushman & Wakefield team consisting of Joseph Grotto and Edward Kent represented the building owners, working closely with the majority owner and managing agent, Werwaiss & Co., Inc. to complete the transaction. This new lease follows significant activity in the second half of 2018 during which three new leases were signed – with RCN Telecom Services of New York, L.P, ClearChoice Management Services, LLC, and Werwaiss & Co. Inc. Collectively, these four transactions bring recent leasing activity at the property to over 37,000 RSF reflecting the positive market reception to the recently completed renovations to the historic Lion Match Building.
“Long Island City is an exciting, high growth area attracting many new tenants due to its prime location as well as the availability of favorable economic incentives,” said Joe Grotto of Cushman & Wakefield. “More specifically, the Lion Match Building offers tremendous transportation access given its proximity to both Court Square and Queens Plaza, which was ideal for Tri-County Care and its employees as the company looked to expand beyond its existing Brooklyn and Queens locations.”
Tri-County Care is a one of only seven Care Coordination Organization Health Homes (CCO/HH) designated in New York State in which they provide the New York State Department of Health (NYSDOH) supported services including home care, personal care, health home care management, rehabilitation, weatherization, access to home, senior dining, social day care and Managed Long Term Care. The organization was represented by Jeff Unger from Kalmon Dolgin Affiliates, Inc in the transaction, and will use the premises for administrative offices.
Built in 1924 as a manufacturing and warehouse location for the Lion Match Company, 22-15 43rd Avenue is a four-story, 60,000 square foot boutique commercial office and retail building. The second and third floors of the building have recently been fully renovated with brand new tenant-controlled HVAC systems, as well as common corridors and bathrooms. In addition, the attended lobby also received a cosmetic refresh, including the completion of a full wall mural of the Queensboro Bridge.
The Lion Match Building is highly accessible by subway with close proximity to the Court Square, Queensboro Plaza and Queens Plaza transportation hubs, which provide access to the E, M, 7, R, N, W and G subway lines. The great transportation accessibility allows for the tenant’s staff to easily travel from points across New York City. The building also has available on-site tenant parking.
About Werwaiss & Co.
Werwaiss & Co., Inc. is a fourth-generation, family-owned business based in New York City. Werwaiss & Co., and/or its associated companies owns, develops and manages a long-term oriented portfolio of commercial, industrial and retail properties encompassing approximately 2 million square feet of space located in New York, Pennsylvania, and Florida. The Western Queens portion of Werwaiss & Co.’s portfolio includes more than 75 commercial, industrial and retail properties, including The Lion Match Building. To learn more, visit www.werwaissandco.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.