If luxury LIC rentals faced a big hit from the pandemic, the developers of the giant B4 tower (18 Sixth) have to be wary of a 2021 opening

The Real Deal 1/29/21 published Two huge Long Island City rentals see occupancy plummet, notably:

At Tishman Speyers’ 1,871-unit Jackson Park, occupancy declined from 96 percent in 2019 to 59 percent as of September 2020...
Nearby, RockRose Development’s 715-unit Linc LIC, at 43-10 Crescent Street, saw occupancy decline from 91 percent in 2019 to 67 percent in the third quarter of 2020.

The article notes that amenities planned for these luxury buildings--fitness center, clubhouse, etc.--are made less attractive by the pandemic, but the developers expect occupancy to rebound once the pandemic is under control.

What that means, though, remains unclear, especially since some percentage of wealthier young people--the target audience for such rentals--may decide to work from home from another location.

Bottom line: developers of large towers in Atlantic Yards/Pacific Park have to be watching this. 

What about B4?

For example, 18 Sixth Ave. (B4) is slated to include 860 units, with 258 of them income-linked ("affordable") and 602 at market-rate. 

The first residents--likely including those in affordable units--may arrive by the end of the year. It's hard to imagine that the pandemic will be fully under control.

We don't have official details for that tower, and plans can change, but, as I wrote in May 2019, one person associated with the project once described space for a Equinox fitness club as well as an outdoor swimming pool--amenities with a cloud, for now.

That tower is being developed by both Greenland Forest City Partners, the project's master developer (owned nearly completely by Greenland USA), and The Brodsky Organization--though the map supplied at the meeting (above) only mentions GFCP.