REAL ESTATE Four-story LIC building near waterfront sells for $12 million BY LIAM LA GUERRE lguerre@queenscourier.com @LiamLaGuerre Elmhurst-based Eunhasu Corporation bought a fourstory building in Long Island City near the waterfront for $12 million, according to city property records fi led on Friday. The industrial building at 47-33 5th St., is zoned for residential development, and the previous owner had approved plans with the Buildings Department to convert the building from a manufacturing use. Under the previous owner’s plans, the building would become a six-story residential structure with 14 units, according to fi lings, and Brooklyn-based architecture fi rm Thread Collective was designing the property. Now that the building has been sold, it’s fair to say those plans could see some adjustment. The seller, 47-33 5th Street Corp., turned a nearly $10 million profi t off the building after purchasing it in 2003 for $2.25 million, according to city records. Eunhasu Corp has been active on the selling side of the market as well. In October last year, the Elmhurst company sold a warehouse in LIC to GDC Properties for $37 million. GDC Properties is demolishing that warehouse and hopes to construct townhouses on the property. GOT A HOT REAL ESTATE STORY IN QUEENS? Contact Liam La Guerre Guerre Real Estate Editor EMAIL: TWITTER: @liamlaguerre lguerre@queenscourier.com NORTH SHORE TOWERS IS CITY’S MOST POPULAR BUILDING COMPLEX IN 2014 BY LIAM LA GUERRE lguerre@queenscourier.com/@LiamLaGuerre There is plenty to celebrate at the North Shore Towers. Not only will the Floral Park building complex be marking its 40th birthday in 2015, but the towers were New York City’s most popular buildings in terms of sales by a wide margin last year, according to a published report based on data from real estate website PropertyShark. That’s right, the three-building co-op at 272-40 Grand Central Pkwy. sold 115 units last year, which is 35 more units than the runner-up. With everything from tennis courts, a pool, a fi tness center, a movie theater, a golf course and annual events, the towers attract homeowners of all ages, and that could be the reason for the high number of sales. To be fair, the median price of an apartment in the complex is about $495,000, which is quite a bit lower than the runner-up, a Manhattan building named The Jefferson, which had a median price of $1.72 million. Honorable mentions Some other Queens buildings made the most popular top 10, including Woodside Terrace Condo in Maspeth, which fi nished in fourth place with 76 units. The buildings, located at 63-14 Queens Blvd., has just 96 apartments. Nearly 80 percent of its capacity was fi lled last year. Coming in at number six is The Vista at 44-15 Purves St., which sold 48 units last year. The buildings are among Queens’ newest luxury residential developments. And The Bay Club in Bayside took ninth place after selling 44 units last year. But the article points out that the condominium has more than 1,000 units, so selling under 4 percent isn’t that much of an accomplishment. Photo courtesy of Scott Bintner/PropertyShark THE COURIER/File photo
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