Riverview Apartments, created from the former Eagle Electric Company factory on 21st Street in Long Island City, have been given the green light to open.
“We have been approved [to sell] and will begin to market,” said Joseph Pistilli, Chief Operating Officer (COO) for Pistilli Realty Group.
“We are very excited about this project for many reasons,” said Vincent Reilly, sales and marketing director for Riverview Apartments.
The complex lies between 24th Avenue and 23rd Terrace on 19th and 21st Streets. Apartments on the 19th Street side will have views of Astoria Park, the East River and the Triborough Bridge.
“There are river views, but actually, all three sides of the building have really nice views,” Pistilli said.
The 188 units at Riverview are also very large. One-bedroom apartments will range from 650-square-feet to 865-square-feet, an average two-bedroom is 1,400-square-feet, and an average three-bedroom is 1,750-square-feet.
“The apartments are [each] very different,” said Pistilli. “They’re not square, they’re not boxy, they’re very artistic.” Some three-bedroom units will include lofts and mezzanines.
Half of the apartment units are located in the three-story Eagle Electric Company building, erected in the 1920s. Three more stories were added to the original building during redevelopment.
The remaining units are located in a new five-story building built next to the old factory, and are linked together.
Heat is included; gas, electricity and parking are all additional. A door attendant will stand at the 24th Avenue main entrance and security personnel will be on site.
At this time, Riverview Apartments can only be offered for sale as a cooperative development and not as a condominium. Even though co-ops and condominiums are “common interest developments,” a co-op building is owned by a cooperative housing corporation. In a condominium, each unit owner owns his/her individual apartment.
The plan is to eventually refinance Riverview. “When the [cooperative] board takes over, there is an opportunity to convert from co-op to condo,” said Pistilli.
“The beauty of this development is the value. We’re competitive,” said Reilly.
“The best way to find out a [unit] price is to call Mr. Reilly to make an appointment and come on down to see an apartment and get a feel for the building,” Pistilli said.
Reilly can be reached at 718-204-1600.
Courtesy of The Queens Gazette.