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Fast and furious at Five27

July 9, 2013

Long Island City luxury condominium, Five27 has reached the 50 percent sold milestone in two weeks since the launch of sales with Modern Spaces as the exclusive sales and marketing team.

The 27-unit condominium, designed by interior design and architecture firm Fogarty Finger, is only one of two buildings on the market in the area this year.

Located on 5-27 51stAvenue in Long Island City, move-in for a buyer is expected to take place in September.

“The rapid pace at which we were able to reach this sales milestone is a testament not only the top-quality construction of Five27, but the growing demand for luxury homes in Long Island City,” said Eric Benaim, CEO and president of Modern Spaces.

Five27 is comprised of four floors encompassing 27 studios-, one-, and two-bedroom residences ranging from 490 to 1368 s/f with prices starting at $395,000.

The building was developed by Shuster Development, a local Long Island City developer who has built several luxury buildings in the neighborhood including The Badge, Ten63 Jackson and One Murray Park.

The luxury condominium will feature a red brick facade with large windows marrying contemporary design with Long Island City’s traditional low-rise and row house architecture scheme.