Long Island City Terminalsign.

NEW YORK CITY- JRT Realty Group,a national commercial real estate provider, has brokered three ofthe ten largest commercial real estate leasing transactions for2019, more than any other firm listed in the top ten. JRT closedthe large leases in the burgeoning Long Island City, which hasexperienced a surge of new business after Amazon announced it wasgoing to move to the submarket and after the e-commerce behemothpulled out.

The three large leases included alease transaction where JRT, DY Realty Group and Cushman &Wakefield represented the New York City Department of Health &Mental Hygiene for new office space spanning 80,340 square feet atThe Factory at 30-30 47th Ave., a former Macy's warehouse in LongIsland City. JRT, DY and Cushman & Wakefield currentlyrepresent half of the City of New York's entire real estateportfolio.

The other JRT transactionsinclude two leases at Court Square Place at 24-01 44th Rd. in LongIsland City, representing the landlord United Nations FederalCredit Union on a new lease with The New York Times andrepresenting the tenant Collins Building Services, a majorfacilities maintenance firm, on a lease renewal andexpansion.

The New York Times moved its350-person digital advertising team from the New York TimesBuilding to a 57,846-square-foot office space on floors 9 to 11.Existing tenant Collins Building Services upgraded to 30,760 squarefeet across two full floors on 12 and 15.

"These three tenants areindicative of the diversified profile of companies calling LongIsland City home," Jodi Pulice, founder and CEO of JRT Realty, saidin a prepared statement. "The neighborhood has a greattransportation system, new luxury residential buildings, popularrestaurants and available waterfront land with fantastic views ofthe Manhattan skyline, but importantly, the area offers larger andless expensive office space in Class A facilities."

The strong leasing resulted fromthe significant growth Long Island City experienced in 2019 whenAmazon announced its second headquarters move to the submarket,although it later fell through. However, businesses saw thesubmarket in a new light, gleaming with advantages for newcommercial space. 

"Amazon pulling out of LIC was aloss at the time," said Pulice. "However, it put LIC and Queens ingeneral on the map in a more significant way. The world, not justNew York, now not only knows where LIC is but also has developed ahunger to learn more. We are highly active in Western Queens and weare seeing firsthand that interest has exponentially gone up fromAstoria to LIC."