Real estate watchers are keeping an eye on development in the Bronx, as talks over the future of the 421-a tax break, which greased the skids for new construction in the borough, drag on into the ninth month. Despite the impasse, developers are still planning small buildings in the Bronx.
Midtown South-based Shimon Properties has filed applications for four three-story, two-to-three-unit residential buildings at 53-60 – 53-68 61st Street, located on the corner of 54th Avenue in Maspeth. Three of the buildings will measure 3,640 square feet each and contain three apartments apiece. The fourth building will measure 4,360 square feet and will feature 1,270 square feet of medical offices on the ground floor, followed by two apartments on the floors above. Across all four buildings, the units should average 870 square feet apiece. David Nagan’s Fresh Meadows-based King David Architecture is the architect of record. The 10,823-square-foot assemblage is occupied by two single-story rowhouses. Demolition permits were filed in August.
City officials unveiled a massive rezoning last night for East Harlem, where the administration hopes to encourage towers as tall as 30 stories, less parking for new buildings, and more ground floor retail.
The Othman family is partnering with an unknown developer to build an eight-story, 54-unit mixed-use building at 801 Washington Avenue, located at the corner of Lincoln Place in western Crown Heights. The plans are still in the preliminary stages.
As property values in Long Island City skyrocket, developers are starting to look a little further afield for places to build office space. A pair of developers are taking a chance on an industrially zoned strip in Sunnyside, just across the rail yards from Long Island City. They just filed plans for an eight-story office and medical building there at 38-01 Queens Boulevard, on the corner of 38th Street.