Madison Realty Capital has acquired the vacant 29,000-square-foot lot at 69-02 – 69-08 Queens Boulevard, in Elmhurst, for $14.75 million. The purchase is the first of five properties that are currently being assembled for a mixed-use development, according to The Real Deal. Three other properties – the two-story structure at 46-12 70th Street, the single-story warehouse as 69-39 47th Avenue, and the restaurant at 69-20 Queens Boulevard – are currently in contract to be sold by their respective owners. The fifth property is a two-story cultural center at 69-23 47th Avenue. The single property Madison owns can accommodate roughly 145,000 square feet of development, but if successful in acquiring the entire assemblage, the developer could build a nearly 358,000-square-foot project. At that point, Madison plans to take a mixed-use rental project through the city’s Urban Land Use Review Procedure (ULURP).
New York City neighborhoods are shaped by a strange patchwork of zoning designed for ideal properties in convenient locations. But thousands of lots don’t fit into a perfect, rectangular mold. They’re irregularly shaped, up against the railroad tracks, in a flood zone, or cross between two different zoning districts. That last situation is what brought an Astoria developer to the City Planning Commission on Monday. Great Neck-based owner George Elliott hopes to build a five-story apartment building at 30-70 38th Street, between 30th and 31st avenues.
Yet another home in one of New York City’s suburb-like neighborhoods is getting an expansion. Last Tuesday, the Landmarks Preservation Commission approved changes to the home at 240-02 42nd Avenue. That’s in the Douglaston Hill Historic District in Queens.
Back in November of 2014, YIMBY revealed renderings of the planned 13-story, 88-unit mixed-use building at 142-38 37th Avenue, in downtown Flushing, located three blocks from the Main Street Station on the 7 train. The project, dubbed East West Tower, is still under development, as its developer, Long Island-based Kenny Liu, has recently submitted plans to the Attorney General’s office detailing the project’s estimated sellout. The building is being valued at $95.5 million by the developer, according to The Real Deal. The 160,122-square-foot structure will host 26,791 square feet of community facility space across the ground and second floors. That space will be split between 18 doctors offices. Residential condominium units will begin on the third floor and should average 731 square feet apiece. There will be a 142-car parking garage and a fitness center in the cellar. Maspeth-based Architects Studio is designing and construction is quietly underway.
Queens-based property owner Bryan Tavarez has filed applications for four three-story, two-unit residential buildings at 85-39 – 85-47 Lefferts Boulevard, in Richmond Hill, located three blocks from the 121st Street stop on the J/Z trains. From north to south, two of the houses will measure 2,835 square feet each and will contain a single unit across the basement and the second levels with the second unit will taking up the third level. The third and fourth houses will measure 1,750 and 2,640 square feet respectively. The smaller building will have a similar layout to the buildings to the north. The larger one will feature a 293-square-foot doctors office on the first level and full-floor units on the next two floors. Fresh Meadows-based King David Architecture is the architect of record. The site is currently occupied by a two-and-a-half-story house, and demolition permits were filed in February.