Permits have been filed for a four-story, 612-seat public elementary school at 1-35 57th Avenue, in Queens. The project comes as part of the redevelopment of the formerly-derelict Hunter’s Point South neighborhood, along the East River. The area has been activated over the last decade thanks to several residential towers and the HPS Park, alongside a new ferry terminal, which is just a four blocks away from the proposed school. The Vernon Boulevard Subway Station is also eleven blocks away, serviced by the 7 train. The New York City School Construction Authority will be responsible for the development.
Local 27 IBT Pension Fund
Teamsters Local 813 and Local 27 IBT Pension Fund have acquired the two-story, 55,000 square-foot industrial building at 48-18 Van Dam Street, in Sunnyside’s western industrial neighborhood, for $20 million, according to Commercial Observer. The new owners plan to convert the building into commercial space, featuring retail space on the ground floor and office space on the second. Environetics is designing the project. Although the building is mostly vacant, three tenants remain in the building and their leases expire in no more than three years.