Long Island City

47-25 34th Street

Office Conversion Planned for Four-Story Industrial Building at 47-25 34th Street, Long Island City

11:00 am on June 22, 2016 By Reid Wilson

Metropolitan Realty Associates and TIAA are in contract to acquire the four-story, 342,000-square-foot industrial property at 47-25 34th Street, located on the corner of 48th Avenue in the Dutch Kills section of Long Island City. The property is being sold for $90 million, according to Crain’s. The eventual new owners plan to convert the building into modern office space to the tune of more than $10 million. The property is currently 55 percent vacant, with the occupied portion is being utilized as warehouse and showroom space. The sale comes two years after Brickman acquired the building for $60 million. Future office tenants will be located two blocks from the 33rd Street stop on the 7 train.

24-12 42nd Road

Eight-Story, 36-Unit Mixed-Use Project Rises to Sixth Floor at 24-12 42nd Road, Long Island City

3:00 pm on June 20, 2016 By Reid Wilson

Ampiera Group’s eight-story, 36-unit mixed-use project under construction at 24-12 42nd Road is now six stories above street level, as seen in photos taken last Friday by JC_Heights and posted to the YIMBY Forums. The structure will eventually encompass 49,050 square feet. It will include 4,328 square feet of ground-floor retail space and will host condominium units averaging 817 square feet apiece. Amenities will include private residential storage units, bicycle storage space, outdoor space on the second floor, and a rooftop terrace. John K. Yung’s Flushing-based MY Architect is behind the design. In April, the structure was having its ground floor poured and had risen five stories in height. The structure can be expected to top out later this summer, with occupancy probably coming for sometime in late 2016 or early 2017.

42-50 27th Street

Foundation Work Underway at Nine-Story, 32-Unit Residential Project, 42-50 27th Street, Long Island City

1:00 pm on June 14, 2016 By Reid Wilson

In January, YIMBY revealed renderings of the nine-story, 32-unit residential building planned at 42-50 27th Street, in the heart of Long Island City. At the time, we knew the site was cleared of its low-rise predecessors. Foundation work is now well underway, according to the Court Square Blog. The structure will encompass 35,294 square feet, and its residential units should average 777 square feet apiece, indicative of rental apartments. Amenities include private residential storage, a seven-car garage on the ground floor, storage space for 18 bikes, and a outdoor recreational area on the second floor. New York-based Ampiera Group is the developer, while Flushing-based MY Architect is behind the design. Completion is expected in late 2017.

Liv@ Murray Park South, 11-30 45th Road, Long Island City, Tops Out at Six Stories High

6:30 am on June 14, 2016 By Vitali Ogorodnikov

While the towers rising by the Hunters Point waterfront and around Queens Plaza and Court Square command attention of Long Island City real estate watchers, a number of smaller-scale, residential projects are steadily rising along the quiet, rowhouse blocks between the two development hotspots. In our April 2014 interview, Sam Charney, who is currently developing The Jackson a few blocks to the south, referred to the neighborhood as Hunters Point East. One of such projects is the six-story, 24-unit Liv@ Murray Park South at 11-30 45th Road. Its concrete shell and metal-framed bulkhead have reached their highest point, and the structure awaits curtain wall installation. The building is developed by the Century Development Group and designed by architect Raymond Chan, who is credited with a handful of projects scattered around the neighborhood. Triborough Construction Services Inc. is the general contractor.

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