Domain Companies files plans for 147 units in LIC

Domain Companies submitted a new building construction project for a 147-unit, 127,594 square-foot residential (R-2) building at 5-01 46th Road in Long Island City, Queens. The plan was filed with the New York City Department of Buildings on December 17, 2025 under job number Q01332495. It calls for the construction of a 10-story building. The project is described in the filing as: application filed to erect 10-story new building as per plans. Stephen Ohnemus, formerly of Vorea Group, which is now owned by Domain Companies, filed the plans. The architect is S9 Architecture and Engineering.

Domain Companies plans another new building on the same tax block immediately to the south of this site, at 5-13 47th Avenue, which is set to have 11 stories.

The Domain Companies announced in October 2025 it had acquired the Vorea Group.

5-17 47th Avenue

The property

The parcel has frontage of 265 feet and is 100 feet deep with a total lot size of 26,475 square feet. The zoning is M1-4 which allows for up to 2 times floor area ratio (FAR) for manufacturing. The city-designated market value for the property in 2022 is $4 million. The most recent loan totaled $4.4 million and was provided by Valley National Bank on May 1, 2025.

Prior sales and revenue

This property is expected to be sold with 5 other properties by the Graduate Center Foundation Housing Corporation to the Domain Companies, according to a memorandum of assignment of contract dated November 14, 2024. As of publication, no sale has been recorded in city property records.

Violations and lawsuits

According to city public data, the property has received one DOB violation and $23,750 in ECB penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Long Island City, The bulk, or 32 percent of the 60.1 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 31 percent of the space. In sales, Long Island City has near average sales volume among other neighborhoods with $961.1 million in sales volume in the last two years and is the highest in Queens. For development, Long Island City is the 9th most active neighborhood among other neighborhoods. It had 6.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 14 of the 21 commercial properties representing 179,276 square feet of the 199,876 square feet. The largest owner is Charney Companies, followed by Domain Companies and then Joseph Nargentino/Joseph Disunno. On the tax block, there was one new building construction project filed totaling 127,594 square feet. It is a 147-unit, 127,594 square-foot residential (R-2) building submitted by Domain Companies and filed by Stephen Ohnemus with plans filed December 17, 2025 and it has not been permitted yet.

The owner

The PincusCo database currently indicates that Domain Companies owned at least 20 commercial properties with 904 residential units in New York City with 1,793,471 square feet and a city-determined market value of $29.7 million. (Market value is typically about 50% of actual value.) The portfolio has $637.3 million in debt, with top three lenders as JLL, Equitable Financial Life Insurance Company, and PNC Bank respectively. Within the portfolio, the bulk, or 96 percent of the 1,793,471 square feet of built space are elevator properties, with industrial properties next occupying 4 percent of the space. The bulk, or 96 percent of the built space, is in Bronx, with Brooklyn next at 2 percent of the space.

The surrounding

This is the first commercial real estate event of interest identified within the 400-foot radius of 5-38 46 Road in the past 24 months.

Direct link to the property’s ACRIS page and link to DOB NOW portal.