SMA Equities has acquired the three low-rise properties spanning 295-299 3rd Avenue, in Gramercy, which amount to 13,000 square feet of mixed-use space, for $27.8 million. Per The Real Deal, the assemblage boasts 46,000 square feet of building potential, and development plans have yet to be disclosed.
Two more applications have been filed that would replace another single-family structure in the neighborhood of Rego Park, and Laurelton, an even rarer vacant lot, in central and eastern Queens, respectively. The burgeoning demand for residential units makes it more attractive to redevelop lots that would otherwise remain single-family homes.
The property owner of the single-family home at 63-33 Alderton Street, in Rego Park, has filed applications for a two-story, two-family building measuring 2,405 square feet. The existing structure will be utilized and expanded upon during construction, and Chang Hwa Tan is designing.
Last September, YIMBY brought you news of a 26-story, 115-unit mixed-use building planned for 27-21 44th Drive, in Long Island City, which Silvercup Properties is developing. The Court Square Blog now reports demolition of the site’s former single-story structure is nearly complete. The DOB also approved permits in April, so construction is likely now imminent.
An LLC has filed applications for six-story, 10-unit residential building measuring 8,820 square feet at 23-31 Astoria Boulevard, in western Astoria. Frank Petruso is designing, and each unit will average nearly 900 square feet. An existing three-story mixed-use building must first be demolished.
Brokelyn spotted the incoming 223 affordable units becoming available at the affordable mixed-use development dubbed Livonia Commons, with buildings at 491 Sheffield, 494 Sheffield, 494 Georgia, and 481 Williams Avenues, in East New York. L+M Dev. Partners and Dunn Dev. Corp. are the developers, and retail space will measure 16,000 square feet. Completion is expected in the beginning of 2016.