131-01 39th Avenue

New Two-Story Commercial Building Filed At 131-01 39th Avenue, Within Flushing West Rezoning Area

In 2014, King’s USA Group acquired the two-story, 100,000-square-foot commercial building – dubbed Assi Plaza and located at 131-01 39th Avenue, in Downtown Flushing – for $54.6 million. Now, the developer is filing applications for a new two-story, 165,337-square-foot building with 58,349 square feet of commercial space, a storage component, and staging areas for transporting goods. Perkins Eastman would design the 51-foot-tall structure, but the new filings come just before the area could get rezoned. Last fall, YIMBY brought you the latest details on the Flushing West Rezoning and the site in question, located between College Point Boulevard and Flushing Creek, is at the center of the proposal’s special waterfront district. In other words, the site could eventually accommodate mixed-use buildings of up to 10 or 14 stories. Plans for the site are probably not set in stone, and the rezoning’s public review process is expected to kick off this spring. Permits to demolish the existing commercial building were filed in February.

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With More Traditional Design, Landmarks Approves Three-Family Home at 348 Clermont Avenue, Fort Greene

In January, we reported on a proposal for a four-story, three-unit residential building on the vacant lot at 348 Clermont Avenue. That’s between Lafayette and Green avenues in Brooklyn’s Fort Greene Historic District. Its design was initially rejected by the Landmarks Preservation Commission. On Tuesday, after a rethink, a more traditional design won them over.

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444 Eleventh Avenue

Tishman Speyer Planning 1.3-Million Square-Foot Office Tower At 444 Eleventh Avenue, Hudson Yards

Last summer, news broke that Tishman Speyer was in contract to buy the development assemblage at 434-444 Eleventh Avenue and 550 West 37th Street, located between West 36th and 37th streets, in the Hudson Yards District. Real Estate Weekly reports the developer has closed on the purchase of 434-444 Eleventh for $163.5 million. 550 West 37th Street sold in a different transaction at an undisclosed price. Plans for the site call for a 1.3-million square-foot office tower. The exact height of the building is probably still being hammered out and the design architect is currently unknown. Ultimately, the site could accommodate up to 1.7 million square feet of development if the maximum number of air rights are purchased. The site is vacant, with the exception of a single-story commercial property at 550 West 37th Street. The two single-story buildings at 446-552 Eleventh Avenue are not (yet) part of Speyer’s assemblage.

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