Rise LIC

Mixed-use, mixed-income, entitled in seven months.

The Rise is a $60 million ground-up mixed-use project with a $35 million hard cost budget. The project is roughly 110,000 SF, 11 stories, with 10,000 SF of ground floor retail and 103 residential rental apartments, of which 30% are designated affordable housing through the Affordable NY program and the voluntary Inclusionary Housing program.

The property went through the NYS Brownfields program for environmental remediation, and received entitlements to proceed from all required NYC agencies within seven months of land acquisition. Designed by Fogarty Finger Architects, the building's amenities include a rooftop terrace, gym and dog wash; Butterfield Market signed a long-term lease for its 10,055 SF retail space in 2024.

• $60 million project · $35 million hard cost
• 110,000 square feet, 11 stories
• 103 apartments, 30% affordable
• 10,000 SF of retail · Butterfield Market
• Fully entitled within 7 months
• NYS Brownfields remediation
• 100% leased