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JCS Realty’s Long Island City Play | Real Estate News
JCS Realty, led by developer Jacob Schwimmer, is racing ahead with a massive 500-unit residential project in Long Island City — split across five 99-unit buildings — potentially dodging wage rules tied to larger developments. But here’s the twist: JCS doesn’t own the land. Instead, they’ve leased it from Montgomery Street Partners, a Texas-based firm that bought the 80,000-square-foot site for $95 million — over $1,000 per sq ft. This isn’t their first rodeo — the duo previously teamed up on a Bronx mixed-use project, and Montgomery Street Partners is also eyeing Manhattan with another…
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