Tag Archives: Hallets Point

First look at 13-story mixed-use development near Astoria Cove


| lguerre@queenscourier.com

Rendering courtesy of HCD Architect

Plans for a mixed-use development that would include apartments and medical offices across the street from the huge Astoria Cove project are progressing. Drawings for the project were provided to The Courier.

Ming & Garden Realty LLC, which owns the land at 26-01 4th Ave. near the Astoria waterfront, filed plans to demolish the current two-story building on the site last July, and then filed in December to construct the tall mixed-use project.

The ground floor and second floor will be used for the medical office, while the third to the 30th floors will include 118 apartments in 122,510 square feet of space, according to veteran Bayside-based architect Tim Hao of HCD Architect, who is designing the building.

Ming & Garden Realty purchased the site in 2012 for nearly $7 million, according to city records.

The site is also several blocks away from the Hallets Point mega project that the Durst Organization is working on.

RECOMMENDED STORIES 

First QNS Real Estate Conference set for February


| lguerre@queenscourier.com

Real Estate Conference logo edit

The growing Queens real estate market will soon have a forum where industry leaders can gather to network and discuss opportunities across the borough.

The premier QNS Real Estate Conference will be held on Feb. 26, 2015, and will feature top real estate firms that are investing in the borough, while welcoming prospective developers, owners, architects and other industry members.

Star Network and The Queens Courier, in association with the Real Estate Board of New York (REBNY), are hosting the event, which will include a keynote address by Pat Foye, executive director of the Port Authority of New York and New Jersey. Real estate website PropertyShark and Flushing Bank are sponsoring the conference.

“This event is a great opportunity for the public to learn about the latest trends and investment information in Queens from the top people in our industry,” said Jamie McShane, REBNY senior vice president for communications. “Queens is becoming increasingly important as we have seen projects from Astoria Cove to Hallets Point, and projects at Queens Plaza South and the Long Island City waterfront, as well as Willets Point. And the members of the REBNY are very involved with a growing number of exciting projects in Queens, our largest borough and the most ethnically diverse county in America.”

The event will be at Terrace on the Park at 52-11 111th St. in Flushing at 8 a.m., beginning with breakfast and ending with three panel discussions.

The panel discussions will focus on why big investment firms are coming to Queens, the experiences of major developers already based in the borough and experts’ perspectives on the market in Ridgewood.

“The Queens market has huge opportunity, and this event will shed light on the power of it,” said Josh Schneps, co-publisher of The Courier. “This event is a perfect platform to do so for the industry. We hope people interested in the Queens market will attend and hopefully make investments in the borough.”

Click here to register for the event.

RECOMMENDED STORIES 

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

RECOMMENDED STORIES

Queens industrial property values are on the rise: report


| lguerre@queenscourier.com

Photo courtesy of Scott Bintner/PropertyShark

Industrial property values are going up in Queens.

The slimming inventory of industrial facilities and high demand has led to a 48 percent bump over the year in average prices for industrial properties in the borough, according to real estate services firm JLL’s third quarter market report.

The report blames the price increase on conversions of old factory buildings and sites to new uses by development companies, such as The Durst Organization’s purchase of a portfolio of three industrial properties in Hallet’s Point from Famitech Inc., which will be transformed into a sprawling residential complex.

“Developers are reducing industrial product in Queens by converting facilities to higher and better use,” the report said. “Manhattan developers are increasingly investing in Queens due to lower land costs. This has increased industrial property values in Queens.”

In addition to rising values, industrial property rents are also on the rise, according to the report.

Owners of warehouse and manufacturing sites were likely to ask an average of $13.13 per square foot for rent, based on findings from the newly released report, up from $12.23 per square foot earlier this year.

Read the full report by here.

RECOMMENDED STORIES 

Real estate roundup: Residential support for Astoria Cove, Saving murals for Cornell’s Roosevelt Island tech campus


By Queens Courier Staff | editorial@queenscourier.com

Rendering courtesy of STUDIO V Architecture

NYCHA residents wants Astoria Cove

“There has been a lot of debate about this 1.7 million square-foot waterfront development. We’ve heard opinions coming from The Bronx, Brooklyn and Manhattan — but take it from neighbors who live down the street in the NYCHA Astoria Houses, one for the past 61 years and the other for 60 years: This project can help move our community in the right direction.” Read more [The New York Post]

At Future Cornell Campus, the First Step in Restoring Murals Is Finding Them

“Cornell University and its conservators faced a lot of challenges rescuing three rare 7-by-50-foot murals from the Goldwater Memorial Hospital on Roosevelt Island. The first challenge was finding two of them.” Read more [New York Times]

Douglas Durst Talks Queens, Midtown and WTC

“While the Durst Organization was known for developing Manhattan commercial spaces — Seymour Durst once said he “would never buy anything he couldn’t walk to” from his Manhattan office — Mr. Durst has become a residential developer of late, with two Manhattan rental projects nearing completion and negotiations underway to build a massive mixed-use project in Hallets Point, Queens.” Read more [Commercial Observer]

Radiology Center Opens in Long-Vacant Northern Boulevard Building

“Main Street Radiology at 72-06 Northern Blvd. opened with limited services on Oct. 6, but has since expanded its offerings — modern ultrasounds, mammograms and stress tests, according to assistant director Todd DiLeonardo.” Read more [DNAinfo]

Astoria waterfront property sells for $57M


| lguerre@queenscourier.com

Photo courtesy of Scott Bintner/PropertyShark 

Astoria’s waterfront may get even more crowded.

Real estate investor and developer Shibber Khan bought a plot of land at 11-12 30th Dr., which has up to 460,000 buildable square feet, for $57 million, according to a published report. Vernon Realty Associates is the seller.

Currently, a one-story warehouse occupied by Bohea Associates sits on the land, but the property can have residential buildings of up to 10 stories, Crain’s reported.

The sale comes as a team of developers led by Alma Realty is trying to get approvals from the city for its Astoria Cove project and the Durst Organization paid $100 million to take over the Hallets Point development.

RECOMMENDED STORIES 

Real estate roundup: Inside the Hallets Point deal, what’s with the new structure on Parsons Boulevard?


By Queens Courier Staff | editorial@queenscourier.com

Photo courtesy of Lincoln Equities Group, LLC

Anatomy of a deal: Inside Durst’s complex Hallets Point play

The Durst Organization is projected to spend about $130 million to acquire three parcels where it plans to build a massive $1.5 billion residential and commercial development known as Hallets Point in Western Queens, several sources told The Real Deal.” Read more [The Real Deal]

What’s it going to be?

“This construction site, 75-43 Parsons Boulevard is owned by Great Neck-based developer Mayflower Enterprise LLC. It posted two renderings on the construction wall. One shows a beautiful brick structure with a church bell tower on the corner. The yellowish rendering to the left, however, shows a boring two-story commercial structure without any architectural flair.” Read more [Queens Crap]

Brainstorm About the Future of Diversity Plaza in ‘Visioning Session’

“Officials are hosting a visioning session to discuss the future of Diversity Plaza. The Department of Transportation is set to host the meeting on Saturday, Oct. 18 at P.S. 69 at 77-02 37th Ave., starting at 2 p.m.” Read more [DNAinfo]

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]

Real estate roundup: Alternate Silvercup expansion renderings, city approves shaming landlords, Court Square permits filed


By Queens Courier Staff | editorial@queenscourier.com

Rendering courtesy of LEESER Architecture

Imagine LIC’s Skyline with this Whimsical Silvercup Addition

The expansion of Long Island City’s Silvercup Studios to include Silvercup West, a mixed-use extension of the famed production studio, hasn’t been a dormant project after all; in fact, LEESER Architecture has been busy creating a plan as an alternate to the originally-proposed Richard Rogers design. Read more [Curbed]

Permits filed for two towers in Court Square

The first permits are up for yet another Court Square tower, this one coming to 27-19 44th Drive. Coincidentally, permits were filed for a 26-story tower right next door yesterday, and the buildings will actually be the same height, with both standing 282 feet tall. Read more [New York YIMBY]

NYC’s Queens to get 2,404 Apartments in Durst Project

Rendering courtesy of Durst Organization

Rendering courtesy of Durst Organization

A partnership including Durst Organization plans to build 2,404 apartments on the East River waterfront in the Astoria section of Queens, New York. Douglas Durst’s company said it will invest $1.5 billion in a 2.5 million square-foot (232,000-square-meter) residential and retail development on Hallets Point, a peninsula just southwest of the Robert F. Kennedy Bridge, according to an e-mailed statement. Read more [Bloomberg]

City to publicly shame harassing landlords

New York City officials will publicly post the names of landlords found to have harassed tenants, hoping the public shaming will be a deterrent. The mayor signed a bill on Tuesday that will require the city’s Department of Housing Preservation and Development to post on its website the names of landlords found in housing court to have harassed tenants. Read more [New York Times] 

City Council OKs Hallets Point development


| aaltamirano@queenscourier.com

File Photo

The development that would bring thousands of residential apartments, retail space and parkland to the Astoria waterfront at Hallets Point has gotten the final thumbs up.

The City Council voted on Wednesday, October 9 to approve the plan presented by Lincoln Equities Group, the company behind the estimated $1 billion complex called the Hallets Point project.

According to Councilmember Peter Vallone Jr., the City Council came to an agreement with developers to cut the “community supportive project” down to half its original size.

The new deal also includes $500,000 in city funded research to see the feasibility, engineering and design of a proposed ferry service in order to take the large number of incoming residents to and from the peninsula of Hallets Point.

“It’s going to bring development to an area that sorely needs it,” said Vallone.

The development group initially announced in 2012 it would build the seven multifamily residential towers made up of 2,200 units on the waterfront presently home to the NYCHA Astoria Houses.

Twenty percent of the apartments are expected to be affordable housing. The complex will also include retail space featuring an affordable supermarket, a bank, drugstores and restaurants.

Along with the building, the plan is expected to include a 100,000-square-foot public park, outfitted with pedestrian walkways and bike paths winding along the waterfront, giving the community better sight lines of the waterfront. The project will also create a spot for a K-8 public school.

In May, Community Board 1 voted unanimously to approve the plan. The City Planning Commission unanimously approved the plan in August and in July Borough President Helen Marshall approved the plan as well.

Construction is expected to begin in late 2014 or early 2015.

 

RECOMMENDED STORIES

City Planning Commission OKs Hallets Point development


| aaltamirano@queenscourier.com

File Photo

Thousands of residential apartments, retail space and parkland are one step closer to coming to the Astoria waterfront at Hallets Point, home to the NYCHA Astoria Houses.

On Wednesday, August 21 the City Planning Commission voted unanimously to approve the plan presented by Lincoln Equities Group, the company behind the estimated billion-dollar complex called the Hallets Point project.

In 2012, the development group announced it would build seven multifamily residential towers consisting of 2,200 units. Twenty percent of the apartments will be affordable housing. The location will also include retail space featuring supermarkets, drugstores and restaurants.

A 100,000-square-foot public park, outfitted with pedestrian walkways and bike paths, winding along the waterfront, is also expected to be included.

Robert Schenkel, Lincoln Equities development director previously said the project would bring a positive change to Hallets Points, bringing new housing, an affordable supermarket, a spot for a K-8 public school and a landscaped waterfront path.

The plan will now go before the City Council.

If the plan is approved, construction is expected to begin in late 2014 or early 2015.

 

RECOMMENDED STORIES

Board approves Hallets Point development


| aaltamirano@queenscourier.com

Photo courtesy of Lincoln Equities Group

Hallets Point, home to the NYCHA Astoria Houses on the Astoria waterfront, is one step closer to getting thousands of residential apartments, retail space and parkland.

On Tuesday, Community Board 1 voted unanimously to approve the plan by Lincoln Equities Group to bring 11 buildings to the area. The developer is applying for zoning changes in order to continue with the project and will still need approval from other government agencies.

If the plan is approved, the development would include 2,000 apartments, with construction to begin in late 2014 or early 2015. Twenty percent of the apartments will be affordable housing.

Robert Schenkel, Lincoln Equities development director, said the project would bring a positive change for Hallets Point, as it brings new housing, an affordable supermarket, retail, a spot for a K-8 public school and a landscaped waterfront path.

 

RECOMMENDED STORIES

 

Schumer pushes for expanded ferry service to Astoria


| aaltamirano@queenscourier.com

Photo courtesy of NY Waterway

Senator Charles Schumer has asked the Federal Highway Administration (FHA) and the Department of Transportation (DOT) to prioritize funding to bring the East River Ferry to Astoria, the Upper East Side and Brooklyn Bridge Park.

“The East River Ferry expansion project can become a ‘Nerd Boat’ that connects our rapidly-expanding tech hubs like Dumbo and the Brooklyn Navy Yard with the new Cornell-NYC’s applied science campus,” said Schumer. “It will also maximize ferry use throughout the city and better connect these waterfront neighborhoods to public transportation, benefitting the local economy.”

The East River Ferry expansion is one of five New York City projects that Schumer is singling out for a chunk of $1 billion in transit funds allocated to New York in this year’s Federal Transportation Bill. The FHA and DOT have final say on which projects will receive the funding.

If they pick the East River Ferry expansion, additional services will reach Pier 6 in Brooklyn Bridge Park, Hallets Point in Astoria and the Upper East Side. The expansion also entails a new ferry to Roosevelt Island to accommodate students at Cornell’s applied science campus.

Schumer said private developers are planning to build nearly 4,000 housing units on Hallets Point’s waterfront in 2015. He added that expanding the ferry service would benefit the new residents.

The East River Ferry pilot program began in June 2011 and has since served over 1.7 million commuters. The ferry currently transports almost 150 passengers per trip connecting Manhattan with Long Island City, Brooklyn and Governors Island.

Recently, there had been a push to move the service from Hunters Point in Long island City to Gantry Plaza State Park.

Schumer is also pushing to get funding for projects including the Lower East Side/Brooklyn Greenway expansion, construction on the Cross Bronx Service Roads, HOV extensions on the Long Island Expressway and expansion of underground rail tunnels to Grand Central Terminal.

 

RECOMMENDED STORIES

Hallets Point project to bring new life to Astoria waterfront


| aaltman@queenscourier.com

Photo courtesy of Lincoln Equities Group

A deserted, seven-acre stretch of formerly industrial Astoria waterfront could soon have new life, as a New Jersey development group announced plans to build seven multifamily residential towers as soon as 2013.

Lincoln Equities Group, the company behind the estimated billion-dollar complex called the Hallets Point project, said the buildings will have 2,200 units as well as retail space, including supermarkets, drugstores and restaurants. The company says the properties will boast panoramic views of the Manhattan skyline and the East River, as well as accommodations for a water taxi stop nearby. A 100,000-square-foot public park, outfitted with pedestrian walkways and bike paths, winding along the waterfront, is also expected to be included.

“That area has long been underdeveloped,” said Lincoln Equities Group spokesperson Andrew Moesel. “We believe that a substantial residential commercial development will not only bring in new residents, but much needed resources and amenities that will be transformative for that neighborhood.”

According to Moesel, the project was first proposed in 2006 but has gone through many changes to accommodate the concerns of the community.

“We were ultimately shaping a development that would be conducive to the neighborhood and the demands of the marketplace,” he said.

Eighty percent of the units will be available at market rate with the remaining 20 percent set aside for affordable housing, as per the federal statute. While Moesel said they expect to break ground in 2013, the project could take another three to five years to be completed.

Senator Michael Gianaris is positive about the potential construction, granted the developers stick to their promises. While Gianaris added he plans to keep a watchful eye on the project, it could potentially improve the lives of hundreds of Astoria residents.

“That part of the neighborhood is on a cove, removed from the rest of the area,” said Gianaris. “They have to board a bus just to shop for groceries or take public transit just to cash a check. A lot of the conveniences of everyday New York life are not available in that area.”

Development up throughout Queens


| tcullen@queenscourier.com

willets3w

Temperatures are not the only thing that’s been skyrocketing this summer.

Development in Queens has been booming in the borough, with announcements of major projects, the near-completion of others, and talks of even more to come.

Mayor Michael Bloomberg announced on June 14 the long-awaited, finalized plans for a Willets Point facelift that is expected to bring more than 12,000 union construction jobs and 7,000 permanent jobs.

The project includes a 200-room hotel and 30,000-square-feet of retail space on what is now the Iron Triangle, a 20-acre convertible recreational area, and a 200-store shopping area on what is currently the west parking lot of Citi Field.

Roughly $3 billion in private investment will go into this project, as well as $100 million in city capital that will go toward demolition and permanent improvements. In turn, the overhaul of the area is expected to bring an estimated $4.2 billion in economic activity over the next 30 years.

It was announced the same day that the Billie Jean King Tennis Center, home to the U.S. Open, will undergo its own expansions and renovations.

The Louis Armstrong Stadium, which currently holds about 10,000 fans, will be replaced — in the same spot — with an updated stadium that will hold 15,000 fans and include administrative and broadcast spaces.

The Grandstand Stadium will be built in the southwest corner of the center, holding some 8,000 spectators.

The renovations, which are expected to begin in the fall of 2013, are expected to bring an extra 10,000 tennis fans to the center per day during the U.S. Open.

Following the announcements for the Tennis Center, Borough President Helen Marshall said this was a step forward for both Queens and the Tennis Center, which employs 6,000 with seasonal jobs, according to the U.S. Tennis Association (USTA).

Marshall said that this would further the already robust revenue the National Championship brings to Queens.

“For generations the borough of Queens has played host to the U.S. Open, a world class sporting event and a major economic catalyst for our city,” she said. “I look forward to working with the USTA to ensure that the new additions to the National Tennis Center bring the maximum benefit to the people of the borough of Queens.”

Sixty acres of downtown Flushing waterfront would also be revitalized as part of the state’s Department of State Brownfield Opportunity Areas program.

The proram consists of mixed use projects over the next 10 years, including recreational, commercial, entertainment and residential portions.

And sailing west, another waterfront in Queens might get a revamp of its own.

The Hallets Point project could break ground as early as the fall of 2013, the Daily News reported. The process would reshape seven acres of Astoria waterfront and see around 2,200 housing units throughout seven towers, along with a supermarket and a park along the East River.

Lincoln Equities Group, the developer of the project, has agreed to set aside 20 percent of the units for affordable housing aimed at seniors, a project official told the Daily News. The site will be located close to the Astoria Houses, a public housing complex.

The Briarwood Organization is currently adding to its plaza on Bell Boulevard that will be home to business and medical offices. The site, located at 36-29 Bell Boulevard, is the most recent of several structures the century-old development company has built on Bell Boulevard. The building is expected to open September 2013, Briarwood partners said.

To the south, a new center that looks to spark development, creativity and understanding is in its last stages of completion.

A new center for New York Families of Austic Children is expected to open this September, said NYFAC CEO Andrew Baumann. The center will be home to programs ranging from drama to expression for children and adults with autism, Baumann said, along with support groups and educational programs for parents and family members.

The new center will be at 164-14 Cross Bay Boulevard in Howard Beach.

And as ground is being broken or the final cornerstone is laid, plans for even further development in the borough are still in the works.

The New York City Economic Development Corporation has opened four Requests For Proposals (RFPs) throughout the city — one of which is located in College Point.

The 40,000-square-foot rectangular lot is in the northeast portion of the area’s Corporate Park, which currently houses more than 200 corporations employing approximately 6,000 employees.

And in recent weeks there have been talks of bringing a new Major League Soccer (MLS) Stadium — and new team — to Flushing Meadows-Corona Park. The stadium, it has been reported, would sit some 20,000 to 25,000 soccer fans in one of the borough’s largest parks. Assemblymember Francisco Moya said the project would have multiple benefits for the borough, both economically and culturally.

The potential project — still in its earliest stages, according to the assemblymember — would be privately financed, not affecting taxpayers. As part of any deal, Moya said, the developer would renovate the several soccer fields in the park now.

Moya also noted the large soccer culture not just in Queens, but in the park. The devout FC Barcelona fan said he learned the game in Flushing Meadows as a child and has played there since.

“That’s where my dad took me to play,” he said. “That’s where I played my whole life.”