Rego Park has one of the strongest rental markets in central and eastern Queens, and developers are finally starting to take notice. Last week, YIMBY spotted plans for a 12-story, mixed-use building at 63-98 Wetherole Street, a couple blocks south of Queens Boulevard.
Last fall, Alfa Development shelled out $69.6 million for four buildings at the corner of East 21st Street and Third Avenue in Gramercy. Now they’ve filed plans for a 20-story residential building at 200 East 21st Street.
Chris Xu’s Century Construction and Development Group is slowly transforming Queens with huge mixed-use projects. Last month he filed plans for a 79-story skyscraper next to One Court Square in Long Island City. Now, YIMBY has renderings for his ambitious 14-story tower at 134-03 35th Avenue in Flushing.
Prolific condo builder Boaz Gilad started out by developing new projects in Prospect Heights, Crown Heights, and Clinton Hill, where the market for buying condos and co-ops is pretty well-established. But the pursuit of cheaper land prices and bigger lots has pushed the Bed-Stuy based developer north and east into Bushwick. His firm, Brookland Capital, is currently working on eight buildings in the north Brooklyn neighborhood. Now they’ve filed plans for a ninth, at 99 Grove Street.
Confusion over the future of the 421-a tax exemption has slowed down new residential construction, but commercial development is alive and well across New York City, particularly in the outer boroughs. Yesterday, YIMBY spotted plans for a 16-story hotel in the industrial area just north of Queensbridge Houses in Long Island City.
