RJ Capital Holdings is planning to develop a five-story, 100,000-square-foot multi-use commercial building at the right triangle-shaped block at 98-81 Queens Boulevard, in Rego Park, located four blocks from the 67th Avenue stop on the M/R trains. Commercial Observer has revealed a rendering of the project, which has not yet been filed with the Department of Buildings. The project will feature a mix of commercial uses, including medical office space and ground-floor retail. There will also be an underground parking garage. Multiple low-rise buildings will have to be demolished first, including the Ohr Natan Synagogue, whose lease expires in February of 2017, and commercial buildings at 98-69 and 98-83 Queens Boulevard and 66-02 99th Street. The developer acquired the assemblage in 2013 for $9 million.
Back in July of 2014, YIMBY reported on applications for a 14-story residential building at 24-16 Queens Plaza South, in the Queens Plaza section of Long Island City, but now a new developer, Greystone Property Development, has acquired the site for $23 million. Greystone plans to add 17 stories to the existing five-story commercial building, Crain’s reports. The 22-story, 100,000-square-foot project will include 117 residential units and 3,836 square feet of ground-floor retail space, according to building permits approved back in December of 2015. The residential units would spread across 86,529 square feet of space for average units of 740 square feet apiece, indicative of rentals. Amenities include an outdoor pool, a gym, meeting rooms, and a roof terrace. Woods Bagot is designing. The developer has already secured $39 million in construction financing.
Back in November, we reported on a proposal to take a seven-story residential building at 1143 Fifth Avenue, between East 95th and 96th streets in the Carnegie Hill Historic District, and enlarge it to 13 stories. That really didn’t go over well with neighbors and preservationists, and the Landmarks Preservation Commission didn’t approve it. Last Tuesday, a new proposal, one that would have the existing one-story addition rebuilt as a two-story addition, also did not pass muster with the commissioners.
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.