4
QUEENS WEEKLY, AUGUST 25, 2019
39-story tower eyed for
vacant Flushing site
The site of the proposed tower at 71-12 Park Ave. in Flushing. Photo via Google Maps
BY CARLOTTA MOHAMED
A new proposed
Flushing development
may become the tallest
building in the borough
of Queens outside of Long
Island City.
The 400-foot-tall
structure consisting of
two residential towers,
39 stories each with four
floors of underground
parking and an official
address of 71-12 Park
Ave., will include 488
apartments, according to
plans pre-filed with the
Department of Buildings
(DOB) on Aug. 20.
Plans to construct the
two development sites,
with a total area of 2.4
acres, were announced
by David Marx, of MDG
Real Estate Global
Limited, who purchased
the lot for himself, The
Real Deal reported. On
Aug. 4, MDG announced
that the sale had been
completed, but New York
City property records do
not show any transfer of
real property.
MDG’s Israeli
bondholders approved
the deal in May. Marx
purchased the vacant lots
for roughly $54 million
off of his British Virgin-
Islands registered holding
company, MDG Real Estate
Global Limited.
Prior to Marx’s
purchase, MDG’s original
plans for the site varied
over the years.
In 2012, the firm
received special permits
to build an eight-story,
1 6 4 , 9 9 0 - s qu a r e - f o o t
nursing home with 298
beds on the western half
of the site facing Parsons
Boulevard, pending
a hazardous material
inspection, according
to the Real Deal. The
permits have since
been lapsed.
Other plans included
building a 258,000-squarefoot,
250-unit rental
building on the western
half and a nursing home
on the eastern half facing
Park Avenue. However,
last year, MDG said an
architect discovered
that the two parcels
could potentially support
more than twice as
much square footage as
originally believed. The
firm had then decided to
sell the land to Marx after
it was unable to formalize
additional rights and
failure to find a buyer at
a fair price, according to
the Real Deal.
In a statement to QNS,
the DOB confirmed,
saying, “An application
for a new residential
development comprised
of 39-story towers was
filed with the Department
8/15/19. The application is
in the earliest stages and
has not yet been approved
by DOB.”
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