Brewery deal highlights commercial appeal of newly constructed residential building
LONG ISLAND CITY, QUEENS, April 25, 2022 – Rosenberg & Estis, P.C., New York City’s premier real estate law firm, successfully negotiated a 15-year lease with Finback Brewery in The Durst Organization’s Sven residential tower in Long Island City, a new development that incorporates the restored landmarked Clocktower Building.
The agreement calls for Finback Brewery to open an approximately 3,800-square-foot taproom and microbrewery in early 2023 at the base of Sven, a 67-story residential tower at 29-59 Northern Boulevard. Jolie Meer, a member at Rosenberg & Estis and co-chair of the leasing sub-group within the firm’s Transaction Department, represented The Durst Organization in the transaction.
“Finback Brewery’s choice of Sven highlights the appeal of the property as a destination with premier residences, panoramic views and modern amenities,” Meer said. “Sven offers ideally located commercial space that is increasingly attractive as New York City continues to bounce back from the pandemic.”
Sven offers a total of 12,839 square feet of retail space featuring expansive storefronts, tall ceilings and direct adjacency to Sven’s residential lobbies. One space is located in the lobby of the historic Clocktower Building, serving as a hallmark space with soaring ceilings and unique historical detailing.
The second-tallest building in Queens, Sven’s 958 residential units range from studio to three-bedroom apartments, including 288 income-restricted apartments. Each residence features floor-to-ceiling windows, washers and dryers, hardwood floors, and kitchens and bathrooms with premium finishes and fixtures. Designed with smart, environmentally friendly features, Sven is the first residential skyscraper in New York City to offer View Glass technology, allowing residents to optimize their indoor comfort, views and sunlight via tinted windows controlled with a phone app.
The property offers residents over 50,000 square feet of amenities, including a landscaped terrace with an outdoor swimming pool, a resident lounge, coworking space and a 10,000-square-foot state-of-the-art fitness center. Developed by The Durst Organization and designed by Handel Architects, the 755-foot glass, concave facade overlooks Dutch Kills Green Park.
Finback Brewery’s new Sven outpost will be the brewery’s third, including its first home, opened in 2013 in Glendale, Queens, and a Gowanus, Brooklyn taproom that debuted last year. The brewery, which has a reputation for India pale ales and stouts, will emphasize fruit-forward sour beers at Sven, with beer finished in wooden foeders and ceramic fermentation crocks. Long Island City proved an ideal spot for expansion because it’s fast become one of New York City’s hottest residential neighborhoods. The former industrial hub has morphed into a mix of new housing, greenspace and attractive retail and restaurant options.