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NEW YORK | 44-02 Vernon Boulevard | FT | FLOORS (1 mil sq-ft)

Big development (with bridge to Roosevelt Island) pitched for LIC

Quote:

A group of investors led by Rudolph Giuliani's former chief of staff is proposing a multimillion-square-foot development near the Queens waterfront — a mixed-use project that would include a pedestrian bridge connecting Long Island City to Roosevelt Island, POLITICO New York has learned.

Three sources briefed on the plan described it as the brainchild of Bruce Teitelbaum, who has quietly been presenting it to people in recent months.

Teitelbaum hopes to build a mostly residential tower comprising at least one million square feet on a vacant lot north of 44th Drive, along the north side of the Queensboro Bridge. The site, at 44-02 Vernon Boulevard, is currently owned by Vernon Realty Holding, L.L.C. according to public records; it is zoned for residential use and takes up 128,332 square feet on one lot and 84,338 square feet on another adjoining lot.

But Teitelbaum is likely to apply for a rezoning, and possibly try to purchase an adjacent lot owned by the city, to expand the project's footprint. The more ambitious plan would entail a host of other amenities, including open space, affordable housing and possibly a public school and a hotel, the sources said.

The bridge is envisioned as something akin to the High Line — a path for pedestrians and cyclists with views of Manhattan's skyline and space to sit and unwind. On the Roosevelt Island side it would land near the site of Cornell Tech, the applied sciences school that will dominate the south end of the island.

"Part of the presentation includes renderings for an iconic bridge that connects the new, under-development campus on Roosevelt Island to Queens, which would hopefully attract more economic activity," one source said.

"We are intrigued by the idea of connecting the campus and Roosevelt Island to Queens," said Meghan French, a spokeswoman for Cornell Tech. "It's exciting that the campus is sparking ideas like this. We expect to be an active player in Queens economic development and look forward to learning more and discussing the proposal with other stakeholders."

In his pitches, Teitelbaum has relied on the appeal of connecting the increasingly popular waterfront area of Queens to the new graduate school, the sources said.

South of the vacant site in Queens is a 90,400-square-foot parcel owned by the city Department of Education, where a warehouse-style building stands. D.O.E. uses some of the space, and Teitelbaum, according to two people he briefed, hopes to buy the land to extend his project.

Teitelbaum is in talks with SHoP Architects, which has designed many projects throughout the city, such as the Barclays Arena in Brooklyn.

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http://www.capitalnewyork.com/articl...nd-pitched-lic

This site is pretty big. If they are thinking of 1 project, its gonna be VERY bulky. I am thinking of several towers, especially if they purchase the nearby city site.

Yeah I'm thinking multiple towers. This is sounding like a potential development with 3 or 4 towers, at about 350-400 ft. Well, depending if they buy adjacent lots, it could be a biggie. This being one of several developments that will bring close to 10 k units within the East River Coast. Couple more up North, near the Bronx, with about 3-4 k units.

The skyscraper buff in me wants this to be one tower with a million square feet, but.... most likely multiple ones if similar developments in scale are to be referenced. Possibly even two? Some sort of twin complex would be nice. Well, we will see. :ahhh:

Quote:

proposing a multimillion-square-foot development

Guessing its the key words here. Hopefully one million just devoted to a massive, bulky tower and the rest on services.

https://www.google.com/maps/vt/data=...-SANK7uOtNDNAA

Deputy mayor throws cold water on “ambitious, aggressive” LIC plan

Ariel Stulberg
August 21, 2015

Quote:

Not so fast.

Deputy Mayor Alicia Glen tamped down enthusiasm yesterday for the recently-announced plan to build a colossal mixed-used complex on Long Island City, saying it was “a little out of scale.”

Glen told Politico she’d heard the pitch for the “ambitious, aggressive” plan, and felt it had some “interesting ideas” in it. But the scale of the undertaking, she said, was a bit much even for the pro-height, pro-density de Blasio Administration.

Bruce Teitelbaum, the former chief of staff to ex-Mayor Rudy Giuliani, has been presenting a plan for an enormous project centered around 44-02 Vernon Boulevard in Long Island City. The plan calls for a million-square-foot residential tower, along with a pedestrian bridge connecting the site to Roosevelt Island, where Cornell Tech is planning to open a campus in 2017.

- See more at: http://therealdeal.com/blog/2015/08/....llKV0LPx.dpuf

It's just a matter of time. With the Cornell campus coming and the explosive growth further south in Hunters Point, not to mention the two waterfront mega developments along the Astoria waterfront, this area is poised to boom.

Quote:

Originally Posted by sparkling (Post 7137392)

deputy mayor throws cold water on “ambitious, aggressive” lic plan

ariel stulberg
august 21, 2015

wtf?

Quote:

Originally Posted by sparkling (Post 7137392)

Deputy mayor throws cold water on “ambitious, aggressive” LIC plan

Weird. What's her problem?

Alicia Glen and Gale Brewer...

http://s13.therealdeal.com/trd/up/20...ale-Brewer.jpg

Disgraces to this great city.

Developers are not fans of her btw. Like DeBlasio, her housing plan falls short. She being a key architect in the implementation of the affordable housing plan.

https://therealdeal.com/2019/03/15/m...g-island-city/

MaryAnne Gilmartin’s L&L MAG to develop large site in Long Island City
Current zoning allows for project spanning over 1M sf

https://s11.therealdeal.com/trd/up/2...ty-650x405.jpg

March 15, 2019

Quote:

Amazon may not be coming to Long Island City, but that hasn’t halted new development in the area.

MaryAnne Gilmartin’s L&L MAG is planning a large, mixed-use project on the waterfront at 44-02 Vernon Boulevard, adjacent to Amazon’s abandoned site, according to Commercial Observer.

The site’s current zoning allows 1 million square feet of residential development and 60,000 square feet of commercial space.

Bruce Teitelbaum, once a chief of staff to former mayor Rudy Giuliani, is one of the investors who own the site. In 2015, Teitelbaum pitched a mixed-use development at the site that included a pedestrian bridge connecting Long Island City to Roosevelt Island, but the project stalled.

The site, formerly an oil refinery, has been in foreclosure since 2012. The current owners are negotiating with an affiliate of the Durst Organization, which owns a $32 million note on the property, Gilmartin told CO.

https://commercialobserver.com/2019/...nne-gilmartin/

L&L MAG Tapped to Develop LIC Waterfront Site

BY REBECCA BAIRD-REMBA
MARCH 14, 2019

Quote:

While details of the development haven’t been finalized yet, Gilmartin told CO that she hopes to build a large, mixed-use project on the wedge-shaped plot at 44-02 Vernon Boulevard. Bruce Teitelbaum, a onetime chief of staff to former Mayor Rudy Giuliani, has a stake in the property and is the managing partner of the entity that owns it, Vernon Holding Realty LLC, sources familiar with the deal said. Gilmartin declined to discuss the structure of her deal with Teitelbaum, except to say that she was the development partner in the project.

Teitelbaum has been pitching a plan to develop a residential project of at least a million square feet on the site since 2015, Politico New York reported at the time. The vision for the old version of the project included a pedestrian bridge to Roosevelt Island, but neither Gilmartin nor Teitelbaum would discuss what they were planning now.

“MaryAnne is a proven winner who has tackled some of the most complex projects in the city with excellence, creativity and integrity,” Teitelbaum said in a statement. “She knows how to take a project from conception to completion, and now with her newly founded company, L&L MAG, she is perfectly positioned to develop this vital site on the LIC waterfront.”

Quote:

SHoP Architects, which was involved in the original development proposal, will oversee the design of the new complex built by L&L MAG. The current zoning allows a million square feet of residential development and 60,000 square feet of commercial space, but it’s not clear whether the owners of the 212,670-square-foot property intend to apply for a rezoning.

Gregg Pasquarelli, one of the firm’s principals, said he was “thrilled to be working on the project and with MaryAnne Gilmartin again. We are both committed to making dynamic urban projects centered around beautiful open public space.”

Gilmartin said that she would discuss her plan with the community and with local politicians.

“It’s the very early part of a process that is going to involve a lot of thinking and collaboration with the stakeholders locally and in the community,” she said. “One wants to be deliberate and thoughtful. There’s an as-of-right development opportunity here that’s pretty straightforward, but we’re so early in the process. We’re going to work with the ownership team, the architects and the consultants that have already been put in place.”

This is exciting. Especially knowing that SHoP will be involved.

Hopefully we see 1200-1500 units.