Real Estate
Plans for 17-Unit Building
on Astoria’s Waterfront
BY JENNA BAGCAL
www.qns.com I LIC COURIER I JULY 2018 15
A development site on Astoria's wa-terfront
will soon be home to a new
17-unit residential building.
The CPEX Development and
Conversion Team recently sold a
15,000-square-foot development
site at 12-19 31st Dr. to local real
estate developers GreenbergFarrow.
CPEX said that the 11,170-square-foot
footprint of the property offers 15,080
buildable square feet for residential
development.
According to CPEX Real Estate,
the developers bought the property
for $3 million, and plan to demolish the
existing walk-up building that stands on
the property. Scott Loikits, the principal
and design director for GreenbergFar-row,
was listed as the applicant for the
three-story on New York's Department
of Buildings website.
NIMBY first reported that Green-bergFarrow
had applied for permits
to the property back in May of this
year.
The development is located a block
away from Socrates Sculpture Park
on the Astoria waterfront, and is also
situated a block away from Broadway,
Astoria's main retail corridor.
Recently, Astoria's waterfront prop-erty
has been growing in popularity due
to new developments in transportation,
business and real estate. Last August,
the NYC Ferry introduced an Astoria
route, which makes stops at Long Island
City, Roosevelt Island, 34th Street and
Wall Street, as reported by QNS. The
ferry was part of Mayor Bill de Blasio's
plan to make New York City accessible
to more residents.
“The recent addition of ferry service
to northern Astoria has fueled a new
wave of residential development. This
part of Astoria, which wasn’t popular
as recently as a few years ago due to
limited transportation options, is now
one of the most sought-after markets
in the city," said Catherine Vintonik,
an associate director and member of
the CPEX Development and Conver-sion
Team.
Photo via Wikimedia Commons
Sutherland Dyke, another associ-ate
director from the company, spoke
about other recent developments along
Astoria's waterfront.
“With the addition of new developments
along the waterfront, including the Durst
Organization’s Halletts Point megaproject
as well as numerous smaller scale projects,
Astoria continues to strengthen its status
as a great place to live for people seeking
a strong sense of community and proximity
to all five boroughs,” Dyke said.
Other members of the team include
Managing Partner Brian T. Leary and
Associate Director Jidan Kim.
A call to GreenbergFarrow's offices
for further information has not yet been
returned.
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