Prosper Property Group has nudged a compact but noticeable rental project over the finish line in Long Island City. Midori, at 36-45 31st Street in the Dutch Kills section of LIC, is set to deliver 40 one-bedroom apartments across roughly 54,000 square feet, with 12 of those reserved as affordable units. Construction wrapped in May, and the developer expects the first residents to start moving in on June 1, 2026.
What Midori offers
The seven-story building sticks mostly to one-bedroom layouts and leans into convenience: in-unit laundry, some private balconies, and a compact amenity stack that includes a gym, package room, and rooftop deck. Market-rate rents currently listed run from about $3,600 to $4,250, and leasing kicked off in early May with several apartments showing June 1 availability on StreetEasy.
How the team accelerated a tight timeline
According to the New York Real Estate Journal, Prosper bought the partially completed site in late October 2025, when the building was roughly 60% finished and racing the clock to qualify for the 421a tax-abatement program. Partnering with First Standard Construction and a deep bench of subcontractors, the team ramped up to more than 100 workers on site at peak activity to hit completion in May 2026. The project lists Studios Go as architect and Kriss Capital as financing partner, with Mid State Construction, FSM Electrical, Emerald Mechanical Solutions, and Level Five Finishes among the trades credited with closing out the job.
Small project, big neighborhood
Midori’s 40-unit footprint is modest compared with the high-rise towers now defining much of LIC’s skyline, but it still adds to the neighborhood’s pipeline of fresh rentals. Recent reporting on Long Island City shows larger projects continuing to lock in construction loans and file new plans, reinforcing how smaller infill buildings like this slot into a bigger Queens building boom, as covered by The Real Deal and a rental high-rise snags $111M lifeline report.
Leasing and what to watch
REAL New York is handling leasing, and would-be tenants can check unit layouts, open-house times, and live availability on StreetEasy. With market-rate rents stretching from the mid-$3,000s into the low-$4,000s, Midori underlines how pressure on Long Island City pricing is reaching even the smaller infill buildings, not just the mega-towers on the waterfront.
