Sales at the Clock Tower Lofts in Long Island City jumped to $2 million per unit this June, following the debut of the new 29th Street park. The development at 29-16 Queens Plaza South has seen a surge in buyer interest since the greenspace opened its gates on June 1.

Demand for new construction in Long Island City has hit a post-pandemic high as the Clock Tower Lofts, located at 29-16 Queens Plaza South, broke the $2 million mark per unit in June. Real estate agents and residents credit the surging popularity to the much-anticipated opening of the Murray Park extension at 29th Street, transforming the area’s appeal overnight. According to Corcoran’s Diana Wang, prospective buyers are asking for park-facing units and closing quickly, sometimes within two days of a viewing.

The Clock Tower Lofts project, which launched sales late last year, had previously lingered in the $1.5–1.7 million range through the spring. Since the 29th Street park’s opening on June 1, the developer, Silverback Partners, closed eight contracts at or above $2 million in just three weeks. “Families who once looked at Hunters Point or Greenpoint are now calling me about these Lofts,” Wang told NYC Pulse from her office on Vernon Blvd.

Neighborhood change is also being driven by the new greenspace, which features playgrounds, pickleball courts, and direct access to Queens Plaza subway stations. Local café owner Samir Patel, whose espresso bar opened at 28-59 29th Street in May, said foot traffic doubled after the park launch: “We had a line for cold brew last Saturday that wrapped around the block.”

Developers are already eyeing adjacent parcels for new projects, with zoning applications for a 15-story mixed-use tower at 29-22 Queens Plaza South filed on June 18. Brokers say the $2 million Loft price could become the new normal for LIC if transit and public space upgrades continue.

Frequently Asked Questions

Where are the Clock Tower Lofts located?

The Clock Tower Lofts are at 29-16 Queens Plaza South in Long Island City, Queens. The building sits steps from the new Murray Park extension on 29th Street, making it a focal point for recent neighborhood growth and real estate buzz.

What features does the new 29th Street park offer?

The Murray Park extension opened June 1 and includes new playgrounds, pickleball courts, picnic tables, native plant gardens, and a dog run. It also has pathways connecting directly to Queens Plaza subway access and nearby bike lanes.

How much have sales increased since the park opened?

Since June 1, Clock Tower Lofts sales jumped by approximately 40%, with eight contracts closing above $2 million in three weeks. Real estate agents attribute the spike to the park’s popularity and increased walkability in the immediate area.

Frequently Asked Questions

Where are the Clock Tower Lofts located?

The Clock Tower Lofts are at 29-16 Queens Plaza South in Long Island City, Queens, steps from the new Murray Park extension on 29th Street.

What amenities does the new 29th Street park offer?

The Murray Park extension includes playgrounds, pickleball courts, picnic tables, native plant gardens, a dog run, and direct pathways to Queens Plaza subway access.

How much did Clock Tower Lofts units sell for after the park opened?

Clock Tower Lofts units averaged $2 million each as of June 2024, with eight contracts closing at or above that price in three weeks after the park opened.

How much did sales increase at Clock Tower Lofts after the park opened?

Sales at Clock Tower Lofts increased by approximately 40% month-over-month following the park’s opening on June 1.

What impact did the new park have on the local neighborhood?

The park’s opening led to increased buyer interest in the area, higher real estate prices, more foot traffic for local businesses, and new development proposals nearby.

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