{ ■REAL ESTATE BY LIAM LA GUERRE [email protected] I @LiamLaGuerre { { Got a hot real estate story in Queens? Contact Liam La Guerre I Real Estate Editor [email protected] @liamlaguerre Astoria parking lot to become sevenstory, mixed-use building An Astoria parking lot with plans for development has been sold for $17.35 million, according to property records filed with the city on Tuesday. The buyer, Astoria 31st Street Developers LLC, bought the property, which is located at 31-51 31st St., from a group of owners under the name 1st Carico LLC. Files to demolish the parking booth and construct a seven-story, mixed use commercial, residential and community facility building, were placed with the Buildings Department last year. SLCE Architects are designing the new building, which will have 114 residential units and nearly 20,000 square feet of commercial space as well as a 4,155-square-foot community facility, according to city records. There will also be 127 parking spots at the site. Waterfront warehouse could become mixed-used residential building Another Astoria waterfront industrial site recently hit the market and could be sold to an investor looking to develop the property into a residential, mixed-use structure, which has become a trend in the area. The owner of the vacant, one-story warehouse located at 30-05 Vernon Blvd. bought the property last year for $3 million, according to city records, and was hoping to transform it into a mixed-use condo, office and ground-floor retail building. Construction permits were never filed with the Buildings Department, but renderings were created for the potential seven-story structure. 3005 Vernon Boulevard Joint Venture, which is listed as the owner, pulled the plug on its own project and is now selling the development site for more than six times what it sold for last year. The asking price is $18.24 million, according to Cushman & Wakefield, which is marketing the site. The site has up to 96,000 buildable square feet for a mixed-use development, and its price breaks down to about $190 per square foot, which isn’t topping premium levels for sites in the neighborhood. The property has only been on the market for about a week, but more than 50 investors have called to learn more about it, according to Stephen Preuss of Cushman & Wakefield. Preuss and David Chkheidze are the agents marketing the site. The residential construction boom in Long Island City may continue for much longer as the city mulls over a potential rezoning to allow more high-rise apartment buildings in the neighborhood. City Hall is considering up-zoning an area covering about 100 blocks, which includes the Queens Plaza and Court Square sections, to promote more residential buildings, including many with mixed-income units, to combat the affordable housing crisis in the city, according to a published report. The plan has support from some in the community, but also draws concern about upgrading public amenities for current residents, such as transportation and schools, before bringing in more people. Even without the up-zoning, thousands of new residents will be coming to Long Island City in the near future. There are already about 20,000 units under construction in the neighborhood, business advocacy group Long Island City Partnership told the Wall Street Journal. Other community leaders feel it could further diminish the shrinking manufacturing sector in the burgeoning neighborhood and put pressure on the balance the community is trying to maintain. The LIC Partnership will conduct its own planning study, focusing on how to balance business, residential, tech and industrial growth in the area in years to come. The New York City Regional Development Economic Council awarded a $100,000 grant for the study and subsequent plan that will be created from it. Photo by Liam La Guerre CITY CONSIDERING REZONING LIC FOR EVEN MORE HOUSING
LIC022015
To see the actual publication please follow the link above