Construction Update: 34-46 Vernon Boulevard, Long Island City
Alma Realty’s gigantic 17-story, two-tower development is growing along the Long Island City waterfront at 34-46 Vernon Boulevard.
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Developer Acquires 93-01 Sutphin Boulevard, Plans 580-Unit Mixed-Use Development, Jamaica
BRP Companies has acquired the development assemblage at 93-01 Sutphin Boulevard, immediately north of Jamaica Center in Downtown Jamaica, for $19.5 million. The developer plans to build a mixed-use, two-building project measuring a total 755,000 square feet. Retail space will measure 100,000 square feet across a three-story podium, and 580 residential units are expected between 26- and 14-story buildings. Construction is slated to begin later this year, although a slew of low-rise commercial buildings must first be demolished. FXFOWLE is designing.
Development Assemblage At 143 East 60th Street In Contract, Midtown East
Only placed on the market earlier this month, Kuafu Properties is in contract to acquire the development assemblage spanning 143-161 East 60th Street, on the northern edge of Midtown East, for more than $300 million. A 280,000 square-foot residential building with a retail portion could be accommodated at the site, and rumor has it that condominiums are likely planned. Six low-rise buildings — the largest being 11 stories — currently occupy the site.
Work Begins on 38 Sixth Avenue, Pacific Park’s Second Affordable Building
Work has officially kicked off at 38 Sixth Avenue, where Greenland Forest City Partners will construct their fourth building in the Pacific Park megaproject.
Expansion Planned For Single-Story Retail Property At 107-01 71st Avenue, Forest Hills
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.
