The Plan: In Long Island City, an Old Paint Factory Pops as Condos

A paragon of royalty, their loyalty is to Long Island City.

ZD Jasper Realty’s latest condominium project in Long Island City, Queens, is a 23-story, 182-unit luxury property that pays homage to the area’s industrial past while helping to expand its future as a premier residential neighborhood. 

Located at 40-45 Vernon Boulevard, the Paragon condo building — so named as it sits on the site of the former Paragon Paint factory — will offer owners studio to four-bedroom residences ranging from $685,000 to $3.5 million. 

“To us, the Paragon Paint factory represented the old, but also provided a kind of colorful palette,” Kayla Lee, a broker with marketing and sales agency SERHANT, told Commercial Observer. “We wanted to go a little bit more bold than what you typically see in LIC. In LIC, you could walk into three different buildings, and they almost look identical. Here we wanted to play with color.” 

At the Paragon, those colorful elements are bold marble, warm tones and green tile in the bathrooms, while penthouse marbling will have elements of purple, and the amenities spaces will pop with bright and vibrant shades. 

Condo features also include keyless entry, city and waterfront views, with some residences coming with private outdoor space. Ceilings reach up to 12 feet, while hardwood oak floors run throughout each home. The kitchens feature marble stone countertops, Bosch and Gaggenau appliances, and there are custom wood vanities in the bathrooms. 

“We’ve already put a whole bunch into contract,” Lee said. “A lot of larger units have been moving very fast, because there’s not a lot of three- and four-bedrooms in Long Island City that can meet everybody’s needs.”

Lee, who had lived in Long Island City for 12 years, said she’s been noticing more residents, particularly young families, staying in the area rather than exiting for the suburbs. She said the Paragon meets the needs of people who don’t want to have to leave the city when the kids hit a certain age. 

“Before, when your kid hit the third grade, you would move to the suburbs,” she said. “Now, different buildings have different amenities that are more child-friendly, more schools have been set up in the area, and we’re definitely seeing families staying longer.”

The Paragon, which is one of eight Long Island City properties listed in ZD Jasper Realty’s portfolio, will feature a mix of public and private amenities. 

Residents alone will get to enjoy a landscaped rooftop featuring pergolas and grills, a sky lounge on the 20th floor with indoor and outdoor seating, a fitness center, a pickleball court, a children’s play center, and a coworking lounge equipped with a pool table. Amenities will also include a golf simulator space, and a karaoke and entertainment room. 

“What’s great is, as part of the selling process, we tell people these are the amenities that not only are you going to be using, but also, down the line, if you’re selling or renting, it’s going to help you maximize value,” Lee said. 

Amenities open to the public will include lower-level retail space and a large open space with a waterfront park and a walkway that connects to the East River. 

ZD Jasper Realty expects closings at the Paragon to begin in November. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com