THE REJUVENATION LONG ISLAND CITY

This was the beginning of the story of the cultural re-emergence of Long Island City.

After going dark in the 1920s, the lights were turned back on at the old Astoria Film Studios in Long Island City in 1976, stoking the potential for the industrial neighborhood as a base for film and television production.

Within six years, Silvercup Studios, Eaves & Brooks Costume Company, Bond Film Storage Service, Variety Scenic Studios and Film Treat International had relocated to Long Island City.

In 1984, Citibank acquired a 2-acre, 82,000 square foot trapezoidal shaped site in Long Island City for an estimated $3.5MM ($42.68 per sq ft).

This was reportedly 75% cheaper than land in Manhattan at the time. In February 1989, Citibank built the 48-story, 1.4MM square foot One Court Square building. Citibank did not intend to take the entire building for occupancy, but was unable to attract other tenants.

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