Rendering by Binyan.
Sept. 27, 2024 By Ethan Marshall
The real estate developer TF Cornerstone announced the launch of leasing for the South building of the new Malt Drive development in the Hunter’s Point South section of Long Island City on Monday, Sept. 23.
Located at 2-20 Malt Dr., the South building is the smaller of the two-building, three-tower development. It has 575 total apartments, ranging in size from studio to two-bedroom. A housing lottery will be offered for 173 of these units, for those earning 130% of the area median income.
Rendering by Binyan.
The starting monthly rental prices for the units in this building are $3,600 for studios, $4,495 for one-bedroom and $6,085 for two-bedroom. Both appointments and walk-ins are now welcome at the on-site leasing office, which is open daily from 10 a.m. to 6 p.m.
Rendering by Binyan.
Amenities in the South building include shared laundry facilities, washers and dryers in each unit and, for many of the units, high ceilings ranging from 11-15 feet, extensive pantry storage, walk-in-closets, private terrace space and flexible layouts with alcove space. There is also an outdoor pool there, accessible for residents of both buildings. JoJo and Co. Pet Club, located off the lobby of the building, also offers pet care services to all Malt Drive residents, including doggie daycare, grooming, training and more.
The dog grooming space. Rendering by Binyan.
“The launch of leasing at 2-20 Malt Dr. comes with a real sense of pride as we continue to build on our tradition of Class A construction, stellar management and a commitment to enhancing and enriching the communities our buildings become part of,” TF Cornerstone Principal and Senior Vice President Zoe Elghanayan said. “Malt Drive is a prime example of that tradition. After more than two decades of developing and contributing to the Long Island City waterfront, we’re excited to keep growing alongside the Hunter’s Point South community.”
Rendering by Binyan.
Leasing for the North building, located at 2-21 Malt Dr., is expected to launch before the end of the year. That building will have 811 apartments available, including 244 through the housing lottery for those earning 130% of the area median income.
This building features a long corridor featuring artistic and whimsical elements, including custom mirrors by Bower Studios and Caviar Sconces by Chen Chen and Kai Williams, made from steel shot and meant to infuse the space with a sense of place.
The first 100 residents of the Malt Drive development will receive a free charcuterie board as a move-in gift from custom furniture maker Mark Jupiter, who created nine bespoke pieces for the co-working and lounge spaces across both buildings.
The children’s playroom. Rendering by Binyan.
The roof deck. Rendering by Binyan.
Amenities offered at both buildings include on-site parking, bicycle storage, co-working spaces, lounges, fitness centers, shared laundry rooms, children’s playrooms, roof decks with barbeque grills, sundecks and courtyards.
The fitness center. Rendering by Binyan.
The co-working space. Rendering by Binyan.
The interior architecture and design studio C McKEOUGH unLTD. designed the lobbies, mailrooms, laundry rooms, interior amenities and residential corridors of both buildings.
“TFC’s values very much align with our design vision. Together we set out to create an environment where timeless beauty meets functional sophistication, offering residents an enriching living experience every day,” C McKEOUGH unLTD. Founder Caroline McKeough said. “The interiors were designed with a strong linear rhythm softened by a botanically inspired palette and wrapped in varying textures distilled from nature. Contrast is a key element throughout, from the dramatic sense of arrival in the lobbies to the intimate, thoughtfully considered amenity spaces. I’m excited for residents to experience the beauty embedded in the details.”
Malt Drive is integrating two new blocks into the community. The development as a whole spans 1.43 million square feet. Its name is meant to refer to the site’s past as a sugar cane processing facility-turned-beer distribution center. Additionally, artifacts salvaged during the construction process have been turned into decorative features throughout the development. Such features include a mooring post, two roof vents, five star anchor plates, three anchors and one striated specimen boulder.
TF Cornerstone’s Malt Drive project is bringing in 1,386 new rental units, bringing their total in Hunter’s Point South up to more than 5,100 units. In addition to providing more housing to the area, Malt Drive also significantly expands the Hunter’s Point South waterfront, delivers new open space for both residents and the public to Newtown Creek for the first time and offers great views of Manhattan, Brooklyn and Queens.
The new Malt Drive Park, created by SCAPE Landscape Architecture, has enhanced waterfront access, expanded park space from the adjacent Hunter’s Point South Park by three-and-a-half acres and extended public pathways along Newtown Creek. Flood-resistant features have been integrated with native plantings at Malt Drive Park, helping to create a community-focused environment that is weather-resistant.
TF Cornerstone has also made efforts to reinforce its commitment to the Long Island City community by sponsoring Culture Lab LIC. It was through this sponsorship that Culture Lab LIC renamed its stage the Malt Drive Stage. During the summer, TF Cornerstone bought two sculptures from Culture Lab LIC, which are now featured at the North building. The sculptures, “Dancing Ants” by Judith Weller and “Octopus” by Christine Galvez, were purchased from Culture Lab LIC’s female sculptor show. Additionally, TF Cornerstone also sponsored a grant to the Hunter’s Point Parks Conservancy.
The development’s retail component features 25,000 square feet of space along Second Street inspired by the Meatpacking District. This includes storefronts that open to the public sidewalk, overhead industrial marquees and outdoor seating. Among the new new leases TF Cornerstone signed for the site are JoJo and Co. Pet Club and Stepping Stone Cafe, which offers food and drinks made by the popular Maman brand, at the base of the South building. Additionally, the Asian eatery FER Restaurant and sundays Studio, a high-end salon specializing in non-toxic nail care and self-care experiences, are new leases signed for the base of the North building.
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