The Blanchard Building in Long Island City will get a $15 million renovation along with a beer hall and food and retail tenants.
Located at 21-09 Borden Ave., the 168,000-square-foot property was purchased by Related Companies in March. It was previously owned by J.F. Blanchard who was a manufacturer of fire proof doors and shutters, according to Forgotten NY.
Joanna Rose, a spokesperson for Related Companies, indicated the renovations will include significant upgrades to the building’s aesthetics, mechanical systems and amenity packages. The company has not chosen an operator for the ground-floor beer hall or how many square feet it will be. They will also market the office spaces to food and retail vendors.
Related Companies also purchased the 7-story Paragon Oils Burners Building, located at 21-00 49th Ave., and will pour $30 million into renovations for all new windows, elevators and a penthouse roof terrace. The building was previously used as a storage facility.
Patrick Sweeney, a senior vice president at Related Companies told The New York Times that asking rent will be in the $40s and $50s per square foot.
“We are transforming these ideally located buildings into premier office space and an important piece of our strategy is creating dynamic amenities for gathering , including indoor and outdoor public spaces, restaurants, shops and cafes that will be appealing to workers and residents of the community alike,” Rose said.
The buildings will open in 2017 and expect the tenants to open their doors to the public then as well,” she said.
Developers have increasingly been renovating large warehouses and office buildings including The Factory at 30-30 47th Ave., which is home to Madewell, Polo Ralph Lauren and Gwynnie Bee.
Alma Realty, who redeveloped the former Apple Tag Label building located at 30-30 Northern Blvd., plan to lease office space to major technology and media companies.
The Paragon Oils Burners Building/Photo via Property Shark
