Tag Archives: Durst Organization

Five smallest condos in Queens for sale  

| lguerre@queenscourier.com

Photos courtesy StreetEasy and Modern Spaces

Condos are becoming more popular in western Queens neighborhoods, such as Long Island City and Astoria, as developers seek to maximize profits in a market with increasing land values and high construction costs.

In an effort to keep homes prices lower, developers are building smaller condos in buildings with more amenities and common spaces.

Studio condos are naturally smaller apartments and although these homes typically don’t offer enough space for families, it could be right for individuals or first-time homebuyers.

Here is a list of the five smallest condos on the market in Queens now, which was provided by the data team at StreetEasy.com. Not surprisingly, they are all studios in western Queens, and building amenities play a big role in the prices.

1. 14-43 28th Ave., #4B, Astoria

For: $329,000
Size: 400 square feet
Broker: Azure Realty NY LLC

This studio unit in The Astorian, a five-story, 10-year-old building with 38 units, comes with a private balcony, stainless steel appliances and — here’s the best part — a fold-up Murphy bed. It is a short walk away from the N and Q train station on 30th Avenue, which is approximately a 15-minute ride to Manhattan. The building also has a rooftop common space for events and barbecues with views of the neighborhood.

2. 25-40 Shore Blvd., #7, Astoria

For: $475,000
Size: 475 square feet
Broker: Markou Living LLC

Another studio in Astoria takes second place, but this apartment is in Shore Towers — a 23-floor, 407-unit amenity-laden building near the waterfront with views of Robert F. Kennedy Bridge. The building comes with a fitness room, indoor pool, free parking, tennis courts, a 24-hour doorman, and a free shuttle bus to and from the Astoria Blvd. N and Q train station — making for a 20-minute commute to Manhattan. Not to mention, it is also close to Astoria Park. Not far away from the building, the Durst Organization is set to revitalize the area for its mega Hallets Point development, which could increase prices in the neighborhood as demand increases.

3. 11-25 45th Ave., #2H, Long Island City

For: $619,000
Size: 479 square feet
Broker: Modern Spaces

Although listed as having just 479 square feet, as a disclaimer, the actual size of this studio unit in the Hunters Point section of Long Island City, is 946 square feet when including its massive balcony. The exterior space is the key to this home’s value. The owner of this unit will have the space to host get-togethers on this large private outdoor deck. The unit is in a six-story building called One Murray Park, which has 45 units. It is located across from Murray Playground and features a fitness center, a common roof deck, a library and bike storage. There is a variety of public transit lines nearby, including the G, E, M and 7 train lines at the Court Square subway station.

4. 44-27 Purves St., #6E, Long Island City

For: $519,000
Size: 484 square feet
Broker: Blu Realty Group

There are a few buildings under construction or planned for Purves Street, a dead-end strip off Jackson Avenue, such as a 35-story, eco-friendly rental with commercial space on the ground floor. But 44-27, a 14-story building with 64 units, was built nearly a decade ago on Purves Street before Long Island City became as hot as it is now. In 2006 the 6E unit was listed for about $262,000. In a telltale sign of how hot the neighborhood is, today it’s about double the price. The unit features a 50-square-foot balcony with large windows and has a washer and dryer hook-up. The building offers a range of amenities, such as free Wi-Fi, a gym, a sauna, a children’s playroom, a bike room and a roof deck. It is near the G, E, M and 7 train lines at the Court Square subway station.

5. 5-27 51st Ave., #4H, Long Island City

For: $605,000
Size: 490 square feet
Broker: Nest Seekers

The final condo on this list comes from the newest building. Five27, a five-story, 27-unit building in Long Island City, was completed in 2012. The unit features oak wood flooring and large windows for lots of natural light, and comes with a dishwasher and washer and dryer. Building amenities include a doorman, an outdoor common terrace, bike storage, a fitness center and a lounge for relaxing or hosting parties. Living in this unit would also put the owner close to Manhattan, which is one stop away on the 7 train.



Durst Organization buys final lot for Hallets Point mega project

| lguerre@queenscourier.com

Image and renderings courtesy of Lincoln Equities  

Real estate firm Durst Organization finally has ownership of the last piece of the Hallets Point property puzzle and can now move forward with the 2.5-million-square-foot project.

The company paid $15 million for the parcel of land at 1-02 26th Ave. in Astoria, according to city records. The property is needed for the $1.5 billion Queens waterfront project.


Last year, Durst paid $130 million to take control of the project from Lincoln Equities, according to The Real Deal.

When completed, Hallets Point will have 2,400 market-rate and affordable apartments. Together with the nearby Astoria Cove mega project, the two developments will bring about 4,000 units into the Astoria waterfront.


Another Astoria waterfront warehouse for sale, likely to become condos

| lguerre@queenscourier.com

Photo courtesy of Massey Knakal

The owner of another Astoria waterfront site with potential for a large development could sell the property for four times its last selling price as the neighborhood continues its hot streak.

The property at 30-55 Vernon Blvd., which Eastone 26 Ave LLC bought for $8.2 million last year, is now up for sale again and there have been offers of around $35 million, said Stephen Preuss of real estate firm Massey Knakal, which is marketing the site.

At that price, the property would trade for nearly $230 per buildable square foot, which would rank among the top land prices in Astoria. This would mean that prospective owners would most likely focus on a residential development to cover the purchase price and maximize profits, Preuss said.

Currently, a warehouse and parking lot occupy the 37,116-square-foot site, enough to erect a structure with 140,665 buildable square feet.

If air rights from the adjacent residential properties were purchased or a rezoning occurred, the property could have up to 220,000 buildable square feet, Preuss said.

Photo courtesy of Scott Bintner/PropertyShark

30-55 Vernon Blvd. Photo courtesy of Scott Bintner/PropertyShark

Preuss imagined the best use for the site would be a mixed-use development with ground-floor retail, an office or event space on the second floor, and condos on the remaining floors.

“This area is quickly emerging, and the site holds immediate value with its waterfront location along with the benefit of several local mega-projects underway,” Preuss said.

The Astoria waterfront has been scorching hot recently with planned projects like the enormous Astoria Cove, which received the green light from the City Council last month, and the Durst Organization’s Hallets Point project.

Rendering courtesy of 2030 Astoria Developers

Astoria Cove. Rendering courtesy of 2030 Astoria Developers

In addition to those projects, construction is planned next year for a glassy 77-condo building by developer New York Lions Group not far from the waterfront.

Also, in October, developer Shibber Khan paid $57 million for a waterfront site at 11-12 30th Dr., which has 460,000 buildable square feet. It is located just a block south of the Eastone 26 Ave LLC property.

Rendering courtesy of New York Lions Group

Rendering courtesy of New York Lions Group


Real estate roundup: Hallets Point holdout, subway cell phone service expanding to Queens stations

| lguerre@queenscourier.com

Photo courtesy of the Durst Organization

Hallets Point holdout throws wrinkle in $1.5B Durst project

“A real estate investor that owns the last of three pieces that the Durst Organization needs to develop a $1.5 billion project in Astoria known as Hallets Point is holding out beyond the original September closing date, casting a shadow of uncertainty over the megaproject.” Read more [The Real Deal]

New York Subway Cell Service to Grow

“New York City subway riders will be able to use their phones and other devices for the first time in that outer borough along with more underground stations in Manhattan, under a rollout of additional wireless Internet and cellular service expected to be unveiled on Thursday.” Read more [The Wall Street Journal]

Planned Parenthood will break ground on its first Queens health center

“Planned Parenthood will break ground on its first Queens outpost Thursday, officials said. The 14,000-square-foot facility in Long Island City will offer testing and treatment for sexually transmitted infections, as well as pregnancy tests and abortions.” Read more [The New York Daily News]