SB Development and Hazelton Capital Group have secured a $62 million loan to facilitate the completion of Nova, an 86-unit condominium tower at 41-05 29th Street in Long Island City, Queens. Designed by Fogarty Finger, the residential collection will range from studios up to three-bedroom layouts, with no more than five units per floor. The loan was provided by Northwind Group, a Manhattan-based real estate private equity firm.
Long Island City
TF Cornerstone this week debuted Luminescence Market, the first grocery store to open within the Hunter’s Point South complex in Hunter’s Point, Queens. The store is located at the foot of 5203 Center Boulevard, a 52-story residential tower that overlooks the East River.
Local developer Jasper Wu has acquired a 10,000-square-foot lot at 23-17 41st Avenue in Long Island City, Queens, and will replace the existing warehouse structure for residential use. The two-story warehouse building has already been gutted and was delivered in shell condition.
Construction is complete on Trio, a ten-story residential building at 27-19 Thomson Avenue in Long Island City, Queens. Designed by MY Architect PC and developed by Thomson Development, the 116-foot-tall structure will yield 30 units spread across 23,012 square feet, as well as 5,039 square feet of ground-floor retail space. Warner Construction Services was the general contractor for the project, which is located on trapezoidal plot bound by Thomson Avenue and 44th Drive.
Demolition work is wrapping up at 25-01 Queens Plaza North, the site of a 26-story residential building in Long Island City, Queens. Developed by Grubb Properties, the 311-foot-tall structure will yield 417 units with 124 dedicated to affordable housing, and 7,600 square feet of ground-floor retail space. 25-01 QPN Consigli Construction is the general contractor and King Contracting Group is installing all the brick and CMU for the property, which is located between Crescent and 27th Streets, directly adjacent to the elevated Queensboro Plaza station servicing the 7, N, and W trains.