ICON LIC Condos: What the Offering Plan Says

Updated Oct 12, 2026 · 6 min read

ICON LIC is a new nine-story building at 25-08 43rd Avenue in Long Island City with 39 one- and two-bedroom condos over a retail unit. Its offering plan lists asking prices from about $800,000 to $1.9 million, a virtual doorman, a small gym and roof terrace, a lean first-year budget, and a sponsor that can keep control of the board.

In brief: ICON Condominium at 25-08 43rd Avenue is a new nine-story building in Long Island City with 39 one- and two-bedroom condos over a single retail unit. Its offering plan lists asking prices from about $800,000 to $1.9 million, Bosch kitchens, an in-unit washer and dryer in every home, and a small gym and shared roof terrace. What sets it apart: there's no live doorman (a virtual doorman covers the lobby), the first-year budget is only about $210,000, and the sponsor keeps the right to rent unsold units and could control the board indefinitely.

What's Specific to It

• The sponsor may never give up control. The sponsor can rent unsold units instead of selling them. It only has to sell 6 of the 39 homes to declare the plan effective, so owner-occupants may never control the board.
• A virtual doorman, not a person. The lobby is covered by a virtual doorman 24 hours a day. The only staff is a part-time, non-resident superintendent.
• ICAP, not 421-a. The tax consultant's opinion says the building should qualify for a 25-year ICAP partial tax abatement.
• One elevator for everyone. A single elevator serves the homes and the retail unit, and the plan warns service may be slow at times.
• No backup generator. In a power outage, the homes, hallways and elevator all lose electricity.
• No resale for a year. If you buy from the sponsor, you can't list or sell your home for 12 months after closing without the sponsor's consent.

Listing photos of ICON LIC can show you the finishes. The offering plan, the document the developer filed with the New York Attorney General, tells you how the building will be run and what you agree to when you buy. New to these documents? Start with what a condo offering plan is.

At a Glance

• What it is: new construction with 9 floors above a cellar, at the corner of 43rd Avenue and Crescent Street. The residential entrance is on 43rd Avenue. The sponsor expected the first closing around July 1, 2026, with no guarantee.
• Size: 39 homes on floors 2 through 9, one retail unit of about 3,850 sq ft, and a development rights unit the sponsor keeps. No parking.
• Layouts: 21 one-bedrooms, 4 one-bedrooms with a den and 14 two-bedrooms, from about 480 to 970 sq ft. Five penthouses on the top two floors have private terraces, the largest about 1,030 sq ft.
• Ceilings: about 11 feet on most floors, about 14 feet on the third floor and the first two penthouse floors, and about 13 feet on the top floor.
• Offering prices: about $800,000 to $1.9 million, roughly $1,800 a square foot on average. These are the sponsor's asking prices in the original plan, not sales. The 39 homes total about $48 million.
• Common charges: roughly $300 to $710 a month, depending on the unit, under the sponsor's first-year projection.

Finishes

Kitchens

Kitchens get Bosch appliances: a gas range, refrigerator and dishwasher. Counters are beige marble from NY Stone, with wood cabinets and a stainless sink from Dowell. The plan says "or similar" throughout, so brands can change. See kitchen appliance brands in NYC condos and gas vs. induction stoves.

Bathrooms

Kohler toilets and tubs, Corian counters and wood vanities. Bathrooms get electric radiant floor heat from Nuheat, which the plan says comes with no warranty.

Floors and windows

• Floors: wide-plank cork flooring in a "Winter Mist" finish, about 5.5 inches wide and 4 feet long, over a sound-isolation underlayment. Baths and laundry closets are tile.
• Windows: a glass curtain wall. The plan says you'll need shades to cut fading and glare, and that custom glass can take longer to replace.
• Lot line windows: living rooms in units 3C, 5C, 6C, PH-2B and PH-3B have a window on the property line. It doesn't count for light or air, can't be used for sleeping, and could be blocked if the lot next door is built on.

Laundry, heating and cooling

• Laundry: every home has a Bosch ventless washer and dryer.
• Heating and cooling: a VRF heat pump system with York air handlers in bedrooms and living areas, on programmable thermostats. Owners maintain, repair and replace their own indoor and outdoor units.
• Hot water: a central gas water heater on the roof.
• EV charging: the electrical plan includes a meter with nine sub-meters for EV charging, but the plan lists no garage or parking.

Compare with heating and cooling systems in NYC condos.

Amenities

The amenity list is short:

• Second floor: a recreation room of about 600 sq ft with gym equipment, and an open roof terrace of about 490 sq ft. No fixed outdoor furniture is provided.
• Bike storage: 6 spaces on the first floor and 17 in the cellar, first come, first served.
• Lobby: mailboxes and the virtual doorman.

There's no pool and no parking. Amenities are for residents and their guests, and you have to be with your guests. The board can set hours and charge usage fees. Some amenities may not be ready until about 12 months after the first closing. Compare with amenities by building size.

Staffing and Services

Staffing is minimal:

• 1 part-time, non-resident superintendent, budgeted at $30,000 a year
• A virtual doorman in the lobby, 24 hours a day, 7 days a week

Trash goes down a chute on each floor to a compactor. The sponsor may sign a building-wide internet deal and bill it to owners as a common charge. See what a doorman costs in an NYC condo for context.

What It Costs to Run

The sponsor projects a first-year budget of about $210,000 (July 2026 to June 2027). The 39 homes carry about 98% of it, the retail unit the rest. The main lines:

Staff is only about 14% of the budget, which is why common charges are low. Gas in the budget pays for the building's hot water. Common charges run roughly $300 a month for the smallest home to about $710 for the largest penthouse. Read more on common charges and why operating costs differ.

Property taxes: Schedule A estimates about $380 to $890 a month per home, without the ICAP abatement. The plan warns taxes may rise a lot once the finished building is reassessed. See how to estimate condo property taxes.

Good to know: the budget includes a reserve line, and at closing you pay two months of common charges: one to the working capital fund and one to the reserve fund.

Fine Print Worth Knowing

• Renters likely. The sponsor plans to sell to investors as well as owner-occupants, and the board can't approve or reject buyers. Many homes may be rented out.
• Ongoing construction. Expect noise and work in the building after you move in. The board can block your own renovations until the permanent certificate of occupancy is issued.
• Retail below. The retail unit can be used for almost any legal purpose and may bring noise, odors or traffic that owners can't control.
• Development rights stay with the sponsor. A cellar unit holds the building's unused development rights, so owners may not be able to expand later.
• Penthouse details. Terraces have a 2 to 4 inch step up at the door. The plan also flags a convenience staircase in one penthouse that doesn't meet egress stair depth rules and could be a tripping hazard.
• Smoking. Banned in homes and common areas, but tobacco cigarettes are allowed on private terraces and balconies.

Who's Behind It

• Sponsor: Central Realty LIC LLC, based in Flushing. Its principals are Yong Chen and Weitao Shi, who were also involved in The Jackson and The Oasis Astoria Condominium.
• Architect of record and design architect: Angelo Ng & Anthony Ng, Architects Studio
• Managing agent: The One Property Management, on a one-year agreement at $36,000
• Selling agent: B Square Realty
• Tax consultant: Metropolitan Realty Exemptions

The plan doesn't name an interior designer.

Common Questions

Does ICON LIC have a doorman?

Not a live one. The plan calls for a virtual doorman in the lobby 24 hours a day and a part-time, non-resident superintendent.

How much are common charges at ICON LIC?

Under the sponsor's first-year projection, roughly $300 to $710 a month depending on the unit. Estimated property taxes, before the ICAP abatement, add about $380 to $890 a month.

Does ICON LIC have a tax abatement?

The plan's tax consultant expects the building to qualify for a 25-year partial abatement under ICAP. The Schedule A tax estimates don't include it.

Where this comes from: the building's offering plan (CD250223), filed with the New York Attorney General, including its Schedule A price list and Schedule B first-year budget. Prices are the sponsor's offering prices, not sales. Updated October 2026.