Affordable housing developer Phipps Houses is in contract to acquire the 300,000 square-foot, block-long property at 3301 Atlantic Avenue, in eastern Cypress Hill, for $38 million. The existing low-rise factory building is burnt-out following a fire in 2012.
Piermont Properties is looking to sell an assemblage of four properties spanning 72-01 – 72-25 Queens Boulevard and 72-30 – 72-38 45th Avenue, in eastern Elmhurst, for roughly $45 million. The current owner acquired the properties for a total $25 million over the past year, and the site could accommodate a 297,000 square-foot mixed-use building. A 10-year-old three-story, seven-unit building, a 2.5-story vacant home and three low-rise commercial buildings would likely be demolished. HFF is marketing the sites, according to The Real Deal.
CRE Development has filed applications for a 14-story, 48-unit mixed-use building at 45-24 Vernon Boulevard, in western Long Island City. The building will measure 52,500 square feet, and the first floor will have 4,570 square feet of commercial-retail. SHoP Architects is designing, and an existing single-story commercial building must first be demolished. The Real Deal was the first to report on the filings.
Ash Management has filed applications to renovate and expand the low-rise building assemblage spanning 947-955 Flatbush Avenue and 2-10 Snyder Avenue, in northern Flatbush, into a single three-story, 34,820 square-foot commercial building. The final structure will have retail space on the ground floor and offices above. Gabriel Gingishvili’s MGM Creations is designing.
Brookland Capital has filed applications for a six-story, 19-unit residential building at 1218-1222 Putnam Avenue, in central Bushwick. The building will measure 14,264 square feet, which translates into an average 750 square feet per residential unit. Feingold & Gregory Architects is designing, and an existing two-story townhouse must first be demolished.
