LIC’s One Murray Park Now 50 Percent In Contract

The Real DealAugust 10, 2012
One Murray Park, a once-stalled Long Island City condominium project, is now over 50 percent in contract, according to Core, the exclusive marketers of the building. Sales launched in the building, located at 11-25 45th Avenue, in mid-April.

Developed by Eyal Shuster of Shuster Development & Management and Jon Hendel of TerraMax Development, the condo is comprised of 10 studio units, 25 one-bedrooms and 10 two-bedrooms. A project rendering shows the property rises six stories in height. Doron Zwickel, an executive vice president at Core, is leading sales at the building, which was designed by Soho-based firm Fogarty Finger.

As The Real Deal previously reported, One Murray Park was the first new condo development to launch sales in the Long Island City market in more than a year.

Hendel originally envisioned the property in 2006 and had a proposed completion date of 2008, but the development fell victim to the recession. A partnership struck with Shuster last year brought the project back to life. shows five active listings for One Murray Park. The least expensive is a 529-square-foot studio with an asking price of $385,000. The most expensive is a $900,000, 1,085-square-foot home with two bedrooms and two bathrooms.

Building amenities include a library, gym, indoor parking and a common roof deck. The building is located on Murray Park, which recently underwent a $2 million facelift and now features a synthetic turf ball field and a new playground. Streeteasy also shows a project completion date for the building of Sept. 1 of this year. Zwickel told The Real Deal that the building is “99.9 percent complete.” — Zachary Kussin