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New Hunters Point Zipper Building Lists Condos Starting at $650,000

The Zipper Building. (MAQE)

May 13, 2019 By Laura Hanrahan

The Zipper Building, a new luxury condominium development in Hunters Point, has officially placed all 41 of its units on the market.

The available condos, located inside the converted and expanded zipper factory at 5-33 48th Ave., range from studios to four-bedrooms. The units begin at $650,000 and go up to $2.5 million.

A unit inside the Zipper Building. (MAQE)

The new seven-story building, designed by RA Architecture + Engineering, retains many of the historical elements from the previous four-story factory, including its wood ceiling beams, factory-style windows and red brick exterior.

Inside, the building is outfitted with several high-end amenities including a fitness center with a yoga terrace, a furnished lounge with an outdoor terrace and a wet bar, a children’s playroom, in-unit washer and dryers, a bike room, and additional storage units. The building will also feature retail space on the ground floor.

“The Zipper Building will complement the budding Hunters Point neighborhood, which is in the midst of a real estate boom,” said Eric Benaim, CEO of listing brokerage Modern Spaces.

While construction on the property began in late 2015, developer Circle F Capital officially purchased the factory in 2017 for $24.5 million.

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15 Comments

Gerald

Great, more buildings for the rich and non-native New Yorkers to move into, while the native New Yorkers have to move further away just to find a place to afford.

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DB

The city is expensive. You won’t be able to find a cheap place to buy anywhere here no matter what people do. The only way to get closer to cheaper housing is to increase supply but we’re very far off from that making housing “cheap.”

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New Yorker

Once someone moves here, aren’t they a “New Yorker”? Once someone becomes a US citizen, aren’t they just an “American”? Or are we somehow saying there is some birthright New Yorker status for people born within the 5 boroughs that entitles one to subsidized housing? I was born in NYS, I consider myself a native New Yorker. Deal.

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Old is Gold

This building actually looks like it will have some pretty good values in it, especially given the price appreciation in the neighborhood. Unfortunately new construction just doesn’t have the same feeling of being “solid” like some of the old buildings. For example, the Solarium right next door is ok but definitely has problems that the skeleton of old buildings don’t have. There is even a building in court square designed to look like an old factory but was built in 2016 – the construction quality there is terrible compared to the “real” old buildings. I say stick with the stuff that was built a long time ago and recently renovated. Pre-war buildings are the best. They just don’t build them like they used to.

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Conversions

Don’t disagree, but the developer took away part of the original building from the north side and put it on top so part of the building is new and not original and I hear they cut corners so we shall see once residents move in.

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Hoping to buy!

That’s too bad. It seems like the smaller developers nowadays are just out to make a buck and cut corners left and right. Some of the bigger developers seem to have better quality products. I am looking forward to touring this building and hopefully being able to afford to buy soon (and hoping that they did not cut corners like what is found in some other LIC buildings)!

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Name

A new construction that close to Manhattan for $650k *is* insanely cheap! If you’re smart, you would buy 2 or 3.

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Merc

Eww… hated walking by that building. Always see rats and mice running in and out of that building.

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Mommyoftwo

I’ve been waiting for this building to come to market for years, was able to tour the other day and it looks great.

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MRLIC

How dare you trash talk real estate developers. They are great people just trying to make a buck, I love them so much I voted for one for president!

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IfYouDon'tHaveAnythingNiceToSay...

But we should listen to you, super trustworthy internet lady? Care to expound on your blanket characterization?

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