Parkoff Organization has acquired the single-story, 12,200 square-foot retail building at 107-01 71st Avenue, near the LIRR stop in Forest Hills, for $28 million. The property has roughly 20,000 square feet of unused air rights, and the new owners plan to add multiple floors to the existing structure. Citibank currently leases out the building and is planning to operate on the ground floor after redevelopment.
Demolition of the old single-story warehouse at 27-21 44th Drive, in Long Island City, is now complete; the site will soon yield Silvercup Properties’ 26-story, 115-unit mixed-use building, which YIMBY reported on in 2014. Now The Court Square Blog notes the first on-site rendering has been posted for the nearly 110,450 square-foot building. On the ground floor, 6,095 square feet of retail is planned, and completion is slated for late 2017, with GF55 Partners serving as the architect of record.
The mini construction boom along Queens Boulevard in Elmhurst continues with permits filed for a nine-story apartment building at 46-02 70th Street, on the corner of the busy, 12-lane road.
Concrete and steel beams are up to the fourth floor of Aloft Hotel, a 176-key hotel project at 27-45 Jackson Avenue, in Long Island City, The Court Square Blog reports. The development will span 68,160 square feet on the thru-block lot, featuring an 18-story tower on Jackson Avenue and a thinner eight-story counterpart on Hunter Street. Gene Kaufman is designing and Nissim Seliktar is listed as the property’s owner. Completion is expected in Spring 2016.
Property owner Won Chong Kim has filed applications for a four-story, 19,060 square-foot mixed-use commercial building at 212-12 – 212-14 Northern Boulevard, in central Bayside. The 50-foot-tall structure will have retail space on the ground floor, offices on the second, and health care facilities on the third and fourth floors. Sokwon Im’s Doric Consulting is the applicant of record, and excavation has already begun at the site.