Brand new building|9 floors|51 units|Completed in 2024
Jerry Wang’s pertinent assessment
Buildings – small and medium-sized developments, a few units I think are too small and not square, and the long-term investment appreciation space is somewhat hindered.
Transportation – The location in Long Island City is right south of Queensboro and should be okay in the long run, with Astoria to the north and the largest social housing in New York City to the west, but still some distance away, and to the east where it is still developing. Conveniently located and the surrounding restaurants still need to be enhanced, but to the south of Queensboro is a fast-growing area with buildings slightly away from traffic/subway noise.
Value – In the long run, new construction projects in Long Island City should maintain their value/appreciate steadily, but the house type is key in Athena, and the price of new homes in the area is slightly slower due to the large number of overseas people, the majority of people like to buy new homes, and the price of new buildings has pushed new highs in the past 10 years.
Miscellaneous – Personally, I still like the waterfront and courthouse square in Long Island City, but the south side of Queensboron is okay in the long run, and the future development potential is OK, especially in areas that are as far away from the noise of the subway and bridge, and social housing. The surrounding area should be able to accept a lot of Chinese food (both advantages and disadvantages)
Suitable for – People who like brand new buildings, easy access and reasonable monthly costs.
Basic Information
Located in the heart of Long Island City, New York, Athena LIC is a modern 9-storey boutique residence conceived by Ismael Leyva that combines a simple and stylish architectural aesthetic with a high-quality urban living concept.
The architectural design features a glass curtain wall that allows natural light to flow into each unit while creating a transparent and bright living atmosphere. All residents enjoy access to a state-of-the-art fitness centre, rooftop terrace and social spaces, as well as unrivalled conveniences.
Brand new building in 2024
9 floors
51 households
Studios to 3 bedrooms
Single room price: from $690,000
1 bedroom price: from 820,000 USD
2 bedroom price: from 1,220,000 USD
3 bedroom price: from 2,350,000 USD
facility
A party room with a dining area and a kitchen
Casual party room
Video game lounge
Dedicated playroom for children
State-of-the-art fitness center
Tranquil outdoor meditation terrace (3rd floor)
Spacious and convenient terrace (9th floor)
Panoramic terrace/roof (top floor)
location
Located at 27-20 42nd Rd in Long Island City, LIC, Athena LIC is one of the fastest-growing high-end residential and commercial districts in New York City in recent years.
Adjacent to multiple subway lines, a few minutes’ walk to E, M, R, N, W, and 7 subway stations, 5-10 minutes to Midtown Manhattan, 10-15 minutes to Times Square, and 20 minutes to the Wall Street Financial District, Long Island City’s transportation advantages make it an ideal place for many people in the financial, technology, and creative industries.
Long Island City is one of the fastest-growing areas of New York City’s real estate market, once an industrial area that has been transformed into a modern, high-end residential and commercial hub that attracts businesses and high-income individuals.
There are supermarkets such as Trader Joe’s and Whole Foods Market, as well as well-known restaurants such as Murray’s Cheese and Casa Enrique.
Athena LIC is adjacent to Gantry Plaza State Park, located on the East River with views of the Manhattan skyline, as well as promenades, running areas, outdoor seating, and leisure facilities for residents to enjoy the tranquility of nature in the midst of a bustling city.
Floor plan and interior
Athena LIC offers a wide range of floor plans from studios to three-bedrooms, making it suitable for single professionals, couples, small families and high-end owner-occupiers. Each unit emphasises the use of space, daylight and modern design to provide a high-quality urban living experience.
Cell
Size: Approximately 421 – 450 sqft
Bathroom: 1
Characteristic:
The open layout effectively enhances the sense of space, which is suitable for single people or short-term living needs
Floor-to-ceiling windows provide plenty of natural light and views of the city
The kitchen is equipped with stainless steel appliances and quartz countertops, which are sophisticated and functional
Modern bathroom design with high-quality tiles and glass-enclosed showers for a simple and stylish look
Suitable for: Young professionals, urban commuters or investors
One-bedroom units
Size: Approximately 505 – 595 sqft
Bathroom: 1
Characteristic:
The open-plan living and dining area is visually more spacious and airy
The master bedroom can accommodate a Queen Size bed set and has a built-in wardrobe
A modern kitchen with high-end appliances and exquisite cabinets to enhance the quality of life
Large windows and balconies (some units) offer views of Long Island City or Manhattan cityscapes
Suitable for: Single professionals, couples or buyers looking for extra living space
Two-bedroom units
Size: Approximately 768 – 901 sqft
Bathrooms: 1 to 2 rooms
Characteristic:
Both bedrooms have plenty of space and natural light, and some master bedrooms have walk-in closets
The open-plan living and dining area is ideal for everyday life and small gatherings
Some units have two bathrooms for added privacy and convenience
Sophisticated interior materials, such as white oak floors, stainless steel appliances and marble bathrooms, reflect modern luxury
Suitable for: Small families, co-residents or professionals who want extra workspace
Three-bedroom units
Size: Approximately 1471 – 1599 sqft
Bathrooms: 3 rooms
Characteristic:
The spacious master bedroom features an en-suite bathroom and walk-in closet for privacy and storage
The two secondary bedrooms can be used as children’s rooms, guest rooms or study rooms to meet the needs of different families
Large living room and open kitchen for family gatherings and daily socialising
Some units have river or city views, with large floor-to-ceiling windows on the upper floors offering the ultimate view
Suitable for: Medium-sized families, long-term residents or buyers looking for a high-end living experience
Suitability for investment
Long Island City, where Athena LIC is located, has one of the fastest-growing areas of New York’s real estate market in recent years. Driven by regional growth and a high-demand rental market, property values continue to rise, making it a prime choice for both owner-occupancy and investment.
Long Island City’s real estate market has strong potential for value-added
Long Island City is only a ten-minute subway ride from Midtown Manhattan, but home prices are still lower than in the core of Manhattan, which gives investors a good room for appreciation. Over the past decade, home prices in Long Island City have shown steady growth as businesses move in, infrastructure development and the supply of high-end homes increases, and the potential remains high.
Stable leasing demand, investment income can be expected
Long Island City is home to professionals in the technology, finance, creative industries, and academic institutions, and many people who work in Manhattan choose to live here for better value for money and a better place to live. In addition, the proximity to the Cornell Tech Campus and other institutions of higher learning has also brought a steady demand for student and academic rentals. These factors make Athena LIC a stable rental market that offers investors a good rental yield.
Investor-friendly market environment
The New York City government’s efforts to promote urban development in Long Island City, including the expansion of Hunter’s Point South, the construction of a riverfront park, and transportation infrastructure upgrades, have increased the residential and investment value of the area. In addition, real estate in Long Island City continues to attract the attention of international buyers and local high-net-worth groups, and the real estate market has remained dynamic and resilient for a long time.
conclusion
“Athena LIC is the ideal choice for both livability and investment value.”
With its prime location, modern architectural design, complete living functions, stable rental demand and long-term growth potential, Athena LIC offers excellent value for both owner-occupancy and investment.
For owner-occupiers, it offers easy commuting conditions, a high-quality community environment and comprehensive living functions, suitable for professionals and families looking for a sophisticated urban lifestyle.
For investors, Long Island City’s high rental demand, steadily increasing home prices, and continued infrastructure development make Athena LIC a high-quality asset with steady growth.
If you’re looking for a home that combines modern urban living, a prime location and investment value, Athena LIC is the place to be.
Listing Credit：Acre NY Realty
