Tag Archives: Queens real estate

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 occured, 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

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Five humongous Queens homes listing under $1M


| lguerre@queenscourier.com

Photos courtesy of Multiple Listing Service and PropertyShark

While new apartments in Queens are getting smaller so developers can maximize profits, the borough still has a  treasure trove of spacious gems in older homes that offer prospective owners the best bang for their buck.

For many, size does matter, so here are five single-family homes with enough space for parents, the kids, grandma and maybe even a crazy uncle or two, and each are under $1 million.

59-35 Menahan St., Ridgewood

This property has seven bedrooms and three bathrooms and was originally built in 1920, according to its listing. It sits on a lot of 5,137 square feet, which has a two-car garage and a private driveway. There is a finished basement and a laundry room as well. The broker is Peter Caruso of Caruso & Boughton Realty, and the asking price is $945,000.

 

105-42 133rd St., Richmond Hill

If you thought that last price was low, this Richmond Hill seven-bedroom home is listed for $649,999. This three-story detached colonial home has three bathrooms and a recreational room in the basement, according to the listing. The residence uses about half of its 5,084-square-foot lot space. Raias Khan of Century 21 is the broker of record.

 

168-04 35th Ave., Flushing

Just in case seven bedrooms wasn’t enough, this three-story colonial style single-family Flushing home offers eight bedrooms, and three full bathrooms, according to the listing. Blocks away from the Auburndale LIRR station, the house is located on a corner property and has 3,087 square feet of space. The residence features a finished basement, which includes a laundry room. It also has a one-car garage. The asking price is $958,000. En Ja Chung of Promise Realty is the broker.

 

88-52 195th Pl., Hollis

Those looking for style with a bargain price may have found it with this large single-family home. The three-story Hollis residence features a formal dining room and living room with French pocket doors, according to its listing. It has seven bedrooms and three and a half bathrooms in 3,400 square feet of space. There is also a two-car garage on the property as well. Emmanuel Babayev of Charles Rutenberg Realty is the broker.

 

11-43 Beach 9th St., Far Rockaway

Access to transportation, a huge house, spacious lot and a bargain price — this home may have it all. This three-story residence sits on a nearly 8,000-square-foot lot and has about 3,500 square feet of living space, according to its listing. The asking price is $879,000. It has seven bedrooms, two bathrooms and a private driveway. The broker is Ann Bienstock of Five Towns Miller Realty.

Rockaway property

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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.

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The challenge of buying in Jackson Heights: Q&A with Michael Carfagna


| lguerre@queenscourier.com

THE COURIER/Photo by Liam La Guerre

Michael Carfagna, principal and founder of MPC Properties LLC, has been selling real estate in Jackson Heights for the past 16 years, and has sold over 450 properties exclusively during that time. His family has been living in the neighborhood since 1985, and he has seen Jackson Heights go through numerous changes, especially in the real estate sector, since becoming a landmark district.

La Guerre: How is Jackson Heights benefiting from the recent buzz about Queens?

Carfagna: As you know, Lonely Planet mentioned Queens as the top U.S. destination next year. Things like that are going to help bring awareness of Queens in general, and I think that’s where we end up benefiting. We get the spill-over effect. Because there will be people looking into Long Island City and Astoria and find quite high pricing based on what they think it could be, and then they’ll drift out this way and find Jackson Heights.

La Guerre: But there is a problem with inventory. Why is that?

Carfagna: We have this great inventory, but we don’t have a lot of sellers. Here’s what’s happening: people are searching, but they don’t see a big selection, so they are keeping Jackson Heights in the back of their minds and then hope more inventory opens up. But we are probably at an all-time low in inventory in the neighborhood.

La Guerre: So you don’t have much diversity then, and there’s not going to be three-bedrooms available, for example?

Carfagna: Well, there are only two of those on the market and I have both of them. And you have a total of maybe five two-bedroom, two-baths, and I believe two are already spoken for. You just don’t have a lot for people to choose from.

La Guerre: And because there isn’t much vacant land and it has the historical district, Jackson Heights won’t transform much. But in your opinion, where will the neighborhood see change in the future?

Carfagna: Anything close to the city like we are is going to pick up momentum, and it will almost be seamless. People will be going back and forth depending on where they work. And so I see Jackson Heights accelerating in price because of that, as well as it should pick up more momentum with—let’s call it a commercial facelift as for the selection of restaurants that will come here and blend in with the existing restaurants that we have.

La Guerre: What has been popular and easy to sell here and why?

Carfagna: Anything that has distinctive quality like The Towers, Hawthorne Court, Elm Court and The Chateau. People have heard about those and they have the larger size apartments. The Towers, Elm Court and The Chateau have fireplaces, so that is an added uniqueness to them.

La Guerre: What about detached or attached single-family homes, how do those sell?

Carfagna: I sold one recently. Only two families had lived in it in 90 years. I may get another one, where it’s only been one [family]. The grandparents had it, and then gave it to the son, and now the grandchildren have it. Those homes don’t turn that often.

La Guerre: I guess it could be looked at as a good thing. People must really love their homes there.

Carfagna: You don’t see a lot of them on the market, because they are generational homes. But that could be the new up-and-coming inventory for us. When you look at the prices and compare them to even certain sections of Brooklyn, such as Kensington, it’s still a great value here—under a million to get a beautiful attached home. These have fireplaces, they have four bedrooms, three baths, very well built. They sold anywhere from $30 to $35,000 in the ’20s. If you look at it from an inflation-adjusted basis, they should be worth well over a million dollars.

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Astoria rental prices drop in November: report


| lguerre@queenscourier.com

Chart courtesy of MNS Real Estate 

Astoria residents have at least one more thing to smile about — lower rents.

While the overall average rates of rents in Queens increased for a second consecutive month, prices in Astoria saw a decline in November for various sizes of apartments, according to MNS Real Estate’s monthly Queens Rental Market Report.

Residents were likely to pay $1,719 for a studio, $2,017 for a one-bedroom and about $2,468 for a two-bedroom apartment in November, which results in an overall average rent decline of 4.45 percent, the report said.

The decrease in price for two-bedroom apartments was eclipsed by Forest Hills, which recorded average rents of two-bedroom apartments for $2,599 in November.

Astoria, a burgeoning neighborhood that has begun to see an influx in major developments such as Astoria Cove, also had a bump in inventory, and the report praised the neighborhood’s growth.

“An increase in Astoria inventory and an average of 13.6 days in market imply a steady rate of growth and popularity in rental market,” the report said.

While Astoria saw declining rents, studios in nearby Long Island City had the highest percent increases throughout the borough. Renters were likely to pay $2,406, which is a 6.16 percent jump from the previous month.

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Bringing down rents can raise income for landlords


By Queens Courier Staff | editorial@queenscourier.com

Photo courtesy of Modern Spaces

BY MINAS STYPONIAS

Fall marks a time when everyone enjoys the changes in the surrounding foliage — everyone except homeowners with pending apartment vacancies. For them, fall and winter is a time when rental inventory builds and rental prospects thin out. Even the most luxurious of apartments loses the ability to attract a substantial amount of interest from the constantly diminishing renter base during the months of November, December, January, February and March.

But what option does an owner have? What can be done to combat this dip in interest and prospects? Their first step is to get involved with a real estate professional, who not only knows the immediate area but is also familiar with the ever-changing seasons and how they affect prospective renters. Their selection should be someone who knows how to market their property so that they combat these changes effectively and prevent their property from sitting unnecessarily during these slower months.

My normal strategy in the fall and winter months is to encourage landlords to accept a monthly rent at a lower rate than their current asking price so that they increase their opportunities among the diminished renter pool, and also limit their financial loss over the course of the year.

For example, if a landlord has a property that is marketed at $2,400 per month on Nov. 1, their apartment is limited to an ever-diminishing pool of individuals willing to pay high market prices during a slower market. If their apartment does not rent as of Dec. 1, this landlord has effectively lost $2,400 in yearly net rental income. Should that apartment now suffer another month or two of vacancy they will continue to lose the entire $2,400 per month for every month it remains vacant.

If a similar landlord with an identical apartment markets their apartment for $2,200 per month on Nov. 1, their apartment will show up in a larger array of searches, and they will have an increased customer pool based on the lower amounts renters are willing to pay in a down market. If their apartment is rented for occupancy on Dec. 1, their net effective loss by marketing their property for $200 less in rent is $2,400 for the year. Their willingness to adapt to the slower market demand has permitted them to minimize their loss on their annual net rental income and prevented them from having an apartment sit for a longer period of time.

Landlords can also adjust their vacancy period during these slower months by offering their units for short-term leases of 3, 6 or 9 months, so that at the point of renewal their apartment will now be vacated during a much more lively and competitive marketplace. This also affords them the opportunity to renew with that tenant at a rate more in tune with what their apartment should normally be comparable to.

Minas Styponias is a licensed real estate broker for BuySell Real Estate in Astoria, where he was born and raised. He has had a career as a luxury rental property manager in New Jersey and Manhattan. Styponias speaks English, and is conversational in Greek and Spanish.

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New Elmhurst luxury rental building The Elm West revealed


| lguerre@queenscourier.com

Renderings courtesy of Pi Capital Partners 

The Elm East meets The Elm West.

The developer of The Elm East, an Elmhurst luxury building located at Broadway and Queens Boulevard, has revealed renderings for a project planned across the street called The Elm West.

Flushing-based Pi Capital Partners is developing the sibling project at 85-15 Queens Blvd., according to a published report. The new building will be larger than its predecessor, which was completed in 2012.

The Elm West will have 130 luxury units, 50,000 square feet of retail space and a community facility, according to New York YIMBY.

Tenants will benefit from panorama views of the Manhattan skyline, according to Pi Capital.

Permits have yet to be filed with the Buildings Department for the new building, but if it’s anything like its sister, The Elm West will have a mix of studios and one- and two-bedroom apartments.

the-elm-east3

The Elm East

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Queens apartment sizes getting smaller: report


| lguerre@queenscourier.com

Photo courtesy of Douglas Elliman

Queens is shrinking.

Maybe not geographically, but new rental apartments in the borough tend to be smaller studios and one-bedrooms as opposed to larger two- and three-bedroom apartments, according to a report released Thursday by Douglas Elliman Real Estate.

Smaller apartments took more of the market share in November when compared to October, as well as when compared to November of 2013, according to the firm’s monthly analysis, which tracks rentals in northwest Queens.

In November, 76 percent of new apartments were studios and one bedrooms, compared to 71 percent in October, and just 60 percent in November of last year.

“The majority of renters, particularly younger renters, are very sensitive to price thresholds,” said Clifford Finn, executive vice president of new rentals at Douglas Elliman. “Construction costs increased, land costs increased, and in general, unless you’re dealing with a specific building that is catering to a real luxury market or large apartment market, the majority of your run-of-the-mill rentals cater to a somewhat younger crowd. The apartments are getting a little tighter so that the rents don’t go up too much.”

But although the sizes of apartments are shrinking, values have continued to increase.

Rent price per square foot increased 8.2 percent to $40.96 dollars in November from $38.27 during the same month last year, according to the report.

To sell these smaller apartments, Finn said owners have begun to market larger common spaces and building amenities in new developments.

“A lot of the newer rental buildings have really stepped up their amenity programming and their common areas by providing bigger and more functional common spaces,” Finn said. “By having that space that you can leave your apartment, you need less of your apartment so its enabling us to market smaller apartments. People are looking at these amenity spaces as almost part of their apartments.”

Since smaller apartments still have lower rents than bigger ones, average rents in November decreased, the survey found. The average renter paid $2,681 in November, which is 9.5 percent lower than last year, when the average price was $2,963.

And of course, renters will still be better off with Queens prices than those of some other boroughs. Median rents in Queens were $710 less than those in Manhattan and $423 less than those in Brooklyn, according to the report.

Read the full report here.

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15 acres of vacant land in Maspeth selling for nearly $70M


| lguerre@queenscourier.com

Map via Google Maps

Maybe the future of manufacturing and warehouses in Queens isn’t dead yet.

Three vacant parcels of land zoned for manufacturing that combine for more than 15 acres are up for sale in Maspeth, and could be the future site of an industrial complex.

The three sites, which combined have about 1.3 million buildable square feet, are just east of the Kosciuszko Bridge and close to the Brooklyn-Queens Expressway. Together they are asking for about $67.9 million, or $100 per square foot.

The biggest chunk is about 12 acres and located to the right of supplier Restaurant Depot. The second largest, at 2.2 acres, is at 42-02 56th Rd., and the final parcel measures about 1.5 acres and is located at 44-02 57th Ave.

The lands are being marketed by Alan Cohen and Ben Waller of real estate firm ABS Partners, who said the parcels would be great for a logistics or distribution center that needs to be close to Manhattan.

“The opportunity for a buyer to control such a large piece of real estate so close to Manhattan does not come around very often,” Cohen said. “With a diminishing supply of warehouse space in Queens and Brooklyn, a buyer could utilize the million plus square feet of air rights to create a thriving manufacturing center.”

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Partially developed controversial Dutch Kills hotel for sale


| lguerre@queenscourier.com

Rendering courtesy of Massey Knakal

The owner of a controversial, partially constructed hotel in Dutch Kills is selling the structure.

Residents protested and even sued to stop construction of the nine-story boutique hotel on 39-35 27th St. in the Long Island City neighborhood in 2010, according to published reports.

But now, with more than 20 new hotels opened over the last five years, the area has become a hot hotel market, and owner Steven Baharestani of Dutch Kills Partners LLC is hoping to sell the yet-to-be completed hotel to the highest bidder.

“The offering presents a unique opportunity to acquire a full or partial interest in a hotel in the construction phase, in one of the most rapidly developing hotel markets in the New York metro area,” said Andrew Posil, director of sales at Massey Knakalwhich is marketing the building.

Construction on the hotel is one-third complete, according to the real estate firm. It will be 38,000 square feet and have 79 rooms when finished.

Baharestani is looking for the best possible offer for the hotel, and there isn’t an asking price for the building, a Massey Knakal representative said.

The Buildings Department originally approved plans for the hotel back in 2007.

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Less than a week remaining to apply for Hunter’s Point South


| lguerre@queenscourier.com

Photo courtesy of Related Companies 

Soon thousands of people will learn if they missed out on one of the city’s top housing opportunities.

But for those who haven’t signed up yet, there is less than one week remaining to apply for the lottery for affordable housing at the Hunter’s Point South buildings.

The 60-day period for accepting applications will end on Monday, Dec. 15, for the two new buildings on the Long Island City waterfront — 32-story Hunter’s Point South Crossing and 37-story Hunter’s Point South Commons.

Just two weeks after the lottery application process kicked off in October about 25,000 hopeful residents had signed up to obtain the 925 units, according to published reports.

Those still looking to apply should do so through the city’s Housing Connect website or by submitting a paper application. After the application process closes, the lottery will begin and selected applicants will be notified early next year.

The buildings will reserve 50 percent of the apartments for people living within Community Board 2, 7 percent for those with mobility or hearing disabilities or those who are visually impaired, and 5 percent for city employees.

There are 186 units, or about 20 percent, for low-income individuals and families, and 738 apartments are available for moderate- and middle-income tenants.

Studio, one-, two- and three-bedroom apartments will be available for all income levels. Low-income rental prices start from $494 for a studio and max out at $959 per month for a three-bedroom, while eligible incomes range from about $19,000 to approximately $49,000 annually. Rents for middle and moderate-income units range from $1,561 to $4,346 per month for household incomes of $55,200 to $224,020 annually.

The buildings feature many amenities, including an urban farm, outdoor terraces, fitness facilities, tech centers, bike storage, party rooms, laundry rooms and a parking garage. Both buildings will have 24-hour lobby attendants.

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Con Edison admin appointed next Real Estate Board of New York president 


| lguerre@queenscourier.com

Photo courtesy of Real Estate Board of New York

A top Con Edison exec and former City Council chief of staff will take the helm as the next president of the Real Estate Board of New York (REBNY), the organization announced Tuesday.

John Banks, vice president of government relations at Con Edison, will officially begin his new position next year after the current president, Steven Spinola, steps down.

Spinola, who has lead the association for three decades as its longest-serving president, believes Banks is a solid choice for the future of REBNY.

“I look forward to some busy months ahead as we continue to pursue a pro-growth agenda for the city while ensuring the smoothest possible transition at REBNY,” Spinola said. “I couldn’t be more optimistic about the future of this organization under John’s guidance.”

Banks is coming to REBNY after 13 years at Con Edison, where up until recently he lead a staff of 38 employees to manage government and community affairs.

Banks severed as chief of staff for the City Council speaker from 2000 to 2002 before taking his role at Con Edison.

And prior to that, Banks, who has an economics and government bachelor’s degree from Manhattan College and a master’s in public administration from Baruch College, was deputy director of the City Council’s finance division.

Banks sits on a number of boards for various organizations, including the MTA, the New York Public Library and Manhattan College. He served as a member of Mayor de Blasio’s transition committee.

“I look forward to working with the leadership of REBNY, its members, staff, the community and New York’s elected officials,” Banks said. “It is an honor to follow in Steve’s tremendous footsteps and build upon his accomplishments.”

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The new Ridgewood: Q&A with Sal Crifasi


| lguerre@queenscourier.com

Photo courtesy of Sal Crifasi

Salvatore Crifasi, who started Crifasi Real Estate 35 years ago, has been a licensed New York real estate broker since 1974. Crifasi specializes in commercial and residential real estate and has worked for decades in Ridgewood. He is a member of numerous local organizations, including being president of the Middle Village Property Owners Association, president of the Middle Village Chamber of Commerce and a board member of the Queens Council of the Arts and the Forest Park Trust.

Crifasi recently talked with Real Estate Editor Liam La Guerre about the buzz in Ridgewood.

La Guerre: There is a lot of excitement about Ridgewood from a lot of people right? Why is that?

Crifasi: It has accessibility to public transportation, and the structures themselves were built in the ’20s and ’30s so they offer solid construction and there are reasonable prices considering the rest of the city. Prices are going up, obviously, but it’s still more affordable than other parts of the city.

La Guerre: What’s causing people to come to the neighborhood?

Crifasi: Restaurants are opening up now and honestly what I think they are seeing is a good neighborhood, a solid neighborhood, and the infrastructure is there. And looking around there are not too many communities that are left that can give you affordability in such a great neighborhood. You’ve got Myrtle Avenue shopping, you’ve got Fresh Pond Road shopping, you’ve got the M train, and you’ve got the L train. There are a lot of advantages.

La Guerre: What is holding up the big development in Ridgewood, like Long Island City or Williamsburg?

Crifasi: Years ago, probably back in the early’ 80s, they were trying to make Ridgewood a historical district and technically if you look at the neighborhood we have more historical homes and buildings in Ridgewood than many parts of the city. There are not that many vacant properties remaining, so there is not a lot of land left in Ridgewood, and the zoning does not allow for a high-rise to be built. It wouldn’t make sense to knock down a two-story building to build a three-story building.

La Guerre: Do you think there could be an upzoning sometime in the future?

Crifasi: No, I think they downzoned it because they wanted to keep the character of the neighborhood. And we have a pretty dense housing stock already there. Everything is built, unless you convert factory-style buildings.

La Guerre: What do you think about the young people moving into the area?

Crifasi: Again, it goes back to affordability. They can buy a one-family with a yard for up to $750,000, where you can’t buy a one-family—you can’t even buy a two-bedroom condo or even a one-bedroom condo in Williamsburg for that price.

La Guerre: But because of this migration, people have been calling Ridgewood the “new Brooklyn.” Is it the new Brooklyn?

Crifasi: It’s good publicity. I think Ridgewood is Ridgewood. Ridgewood has always been Ridgewood to me. Originally there were a lot of immigrants. It was Italian, it was German, now there is a lot of Polish moving in, and it’s also being discovered by young professionals that have families now. They don’t want to live in Williamsburg and Greenpoint anymore or even Manhattan, and they don’t want to move to the suburbs. That’s why Ridgewood has become so demanding right now.

La Guerre: Where do you see Ridgewood in about five years or so?

Crifasi: I see Ridgewood as the new Brooklyn. (Laughs) You’re going to see more restaurants. A lot of people that used to live in Ridgewood are moving back.

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Large downtown Jamaica development site listing for $24M


| lguerre@queenscourier.com

Photo courtesy of CPEX   

A huge development site a block away from the downtown Jamaica transportation hub is selling for $24 million.

The 35,000-square-foot site, which comprises a few lots from 147-07 to 147-37 on 94th Avenue, allows up to 420,000 buildable square feet, according to real estate firm CPEX, which is marketing the site.

World Wide Food Products, a longtime seafood company, has been at the property since 1975, according to DNAinfo.

Downtown Jamaica has been the talk of much major development recently. Last year, officials announced construction of a 210-room, 24-story hotel nearby the LIRR and AirTrain station at 93-43 Sutphin Blvd.

Earlier this year, the Greater Jamaica Development Corporation, a nonprofit that has been working to transform the neighborhood, announced the development of a $225 mixed-use, 29-story residential and commercial tower on the site it owns at 93-01 Sutphin Blvd.

In October, a 90,000-square-foot building and parking garage at 163-05 and 163-25 Archer Ave. traded hands for $22 million. It has 719,736 square feet of buildable space.

Also, nearby York College, which is located across from the building and parking garage, hopes to help usher in development and new businesses as a START-UP NY site, and is offering new businesses about 3.5 acres of land on-campus.

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14-story hotel and residential mixed-use building planned for Flushing


| lguerre@queenscourier.com

Photo courtesy of Scott Bintner/PropertyShark 

Permits were filed to build a new 14-story residential, community and commercial mixed-use building in Flushing on Thursday.

The site, which is located at 134-03 35th Ave., is owned by brothers Christopher and George Xu, according to published reports. The brothers initially asked for a residential zoning change for the property in 2010, New York YIMBY reported, and are now looking to develop on the land. Flushing-based My Architect, led by Jon K. Yung, is designing the building. 

The new development will be a 206,968-square-foot building, roughly half of which will be for residential use. There will be 134 apartments in the structure, along with a 210-room hotel, according to YIMBY.

The entire development will have 223 parking spaces in an underground facility, and an additional 18,000-square-foot space for a community facility.

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