The Bindery Reaches 100 Percent Sold
The Long Island City condominium was inspired by the area’s rich bookbinding history.
Long Island City’s luxury condominium The Bindery has reached the 100 percent sales milestone, much to the acclaim of real estate and brokerage company Modern Spaces, the exclusive sales and marketing team. It is also one of the first residential properties in Long Island City that sold for over $1,000 per square foot with one of the homes selling for $1,166 per square foot after coming onto the market in April. The 20-unit residential building, which is named after the area’s rich bookbinding history, is located at 47-34 11th St.
“The tremendous pace at which the Bindery homes were sold speaks volumes of the continued demand of luxury living in the area,” said Eric Benaim, CEO and president of Modern Spaces. “Everything from the name to the design of the building hit a note with buyers and we couldn’t be more pleased to have brought this project to completion in less than a year.”
Developed by NY Lions Group and Craig Axelrod, The Bindery offers owners seven floors of flawlessly designed studios, one- and two-bedroom homes ranging from 494 to 971 square feet with prices starting at $450,000. Modern Spaces not only handled the sales and marketing of The Bindery, but were also instrumental in designing the interiors of the building, which feature wood flooring with a reclaimed effect throughout and exposed brick walls. Inspired by the historical book binding factories in the area, residents will enter the building through a library instead of a lobby.
“The success of The Bindery is owed to its personality – residents today are looking for more character in their homes and have really connected with the building’s homage to the neighborhood’s bookbinding history,” said Jennifer Dorfmann, managing director of sales for Modern Spaces. “The sell-out of the Bindery speaks to Long Island City’s continued transformation into a cultural hotspot.”