Safe Closings: Silverback Development Reinvents The Closing Process t HERO LIC

CityRealty_04.14.20

Silverback Development reinvents the closing process at HERO LIC

While New York State has declared that certain real estate work is critical, agents have been forced to get creative in order to move forward and complete various aspects of the home search/buying process in order to keep all parties safe and the outbreak at bay. Marketing plans for new condos all over the city now include personalized video tours, but what happens when a buyer has already made an offer that has been accepted and is ready to close the deal in this new setting?

The Real Estate Board of New York (REBNY) recognizes that a halt in apartment sales throughout New York would cause tremendous hardship during an already difficult economic period, and has thus implemented a set of new practices to expedite remote real estate transactions. Board packages are now available electronically, and board interviews can be conducted via FaceTime, Skype, or Zoom. Furthermore, escrow closings and virtual closings eliminate the need for all parties involved in a sale to physically attend the closing and instead allow them to sign documents and exchange funds electronically. Early in the COVID-19 crisis, Governor Andrew M. Cuomo issued an executive order allowing for virtual notarization of documents, paving the way for virtual closings.

Silverback Development’s striking new condo tower, Hero LIC, puts these into practice and offers an innovative approach for buyers looking to close during these unprecedented times. The 109-unit high-rise stands as an uplifting beacon at Queensboro Plaza, Queens’ most ceremonious gateway. The Woods Bagot-designed addition, which is elevated on top of a beautifully preserved early 20th-century loft building, is distinguished by an ever-changing array of curving balconies that pay homage to the Art Moderne style. The remaining sponsor residences in the newly completed building are reasonably priced, ranging from $600,000 to $1.3 million. The building also has a sought-after 15-year 421a tax abatement, which will be passed on to all units.

 

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Model home at HERO LIC courtesy of NestSeekers/Silverback Development

 

 

 

The timely closing method is the most recent example of how Hero LIC has set new benchmarks for its neighborhood. Whereas much of the emerging Long Island City skyline has been devoted to mundane glass edifices, Hero LIC stands out for going above and beyond by preserving the site’s pre-existing building while also providing an eye-catching design above. All apartments have a combination of oversized and picture windows, open-concept layouts, sleek contemporary kitchens, and ample closet space. Some homes have large balconies, but nearly all have spectacular views of one of the world’s great man-made wonders, the New York City skyline.

 

Among the over 15,000 square feet of thoughtfully curated amenities are a wellness center and separate yoga studio, a zen garden in the lobby, a roof deck with BBQ grills, a Sky Room lounge with pool table, and a 3,000-square-foot open-air veranda with dramatic 30′ ceilings.

 

 

 

Among the over 15,000 square feet of thoughtfully curated amenities are a wellness center and separate yoga studio, a zen garden in the lobby, a roof deck with BBQ grills, a Sky Room lounge with pool table, and a 3,000-square-foot open-air veranda with dramatic 30′ ceilings.

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(CityRealty)

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