Midori

In late October 2025, Prosper Property Group acquired the partially completed development at 36-45 31st St. in Long Island City. At the time, the project was approximately 60% complete and facing a compressed timeline to meet the requirements of 421a tax abatement program.

Working alongside First Standard Construction, the team quickly mobilized to stabilize and advance the site. At peak activity, more than 100 workers were onsite daily, executing an accelerated construction schedule to bring the project across the finish line.

The 54,000 s/f building will deliver 40 residential units, including 12 designated as affordable housing, contributing to the continued growth of the Long Island City neighborhood.

Despite the inherent challenges of taking over mid-development, the project has progressed efficiently with first tenants expected to be welcomed beginning June 1, 2026 - successfully qualifying for the 421a program.