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.
In March, YIMBY revealed renderings of Rockrose’s Eagle Lofts, a 54-Story, 783-unit mixed-use tower and factory conversion at 43-22 Queens Street, in Long Island City’s Court Square, and now The Court Square Blog notes partial demolition of the existing six-story factory has wrapped up. Eighty percent of the building is still intact, and excavation has kicked off on Queens Street, where the tower portion will rise. SLCE is designing, and a completion date has not been formally announced.
In December 2014, YIMBY brought you news of developer Xi Zhao’s planned six-story, eight-unit mixed-use building at 42-43 27th Street, in Long Island City, and now The Court Square Blog reports the site has been cleared of its single-story predecessor. Construction will likely begin soon on the 7,000 square-foot building, of which 1,450 square feet is being designated for retail. Tan Architect is designing, and the design has yet to be revealed.