NEW YORK | 24–19 Jackson Avenue | 676 FT | 55 FLOORS

[NYguy]

https://patch.com/new-york/astoria-long-...r-may-become-low-rise-apartments-instead

LIC Hotel Skyscraper May Become Low-Rise Apartments Instead
A long-vacant lot facing the Court Square subway station had been slated for a high-rise hotel, but new city laws may change its fate.





Nick Garber
Feb 16, 2022

A hotel skyscraper planned for an empty Long Island City lot may have been scuttled by the city's new limits on hotel construction — and a developer is now planning a low-rise apartment building on the site instead, according to newly submitted plans.

The site in question, at 24-11 Jackson Ave., covers a chunk of the triangular block also bounded by 45th Avenue and 23rd Street — facing the Court Square subway station, and across the street from the Court Square Diner.

Previously, the site had been slated to become a 50-story hotel run by the Japanese company Toyoko Inn. Last month, however, The Real Deal reported that Tokoyo Inn was looking to sell the site due to a city rule approved last fall that requires special approval for new hotels built around the five boroughs.

The newly revealed building at 24-11 Jackson Ave. will stand only seven stories and 96 feet tall, containing 54 apartments, according to plans submitted to the city on Friday.

Now, the listed owner is developer Sam Charney, whose company is at work building a separate 50-story tower on the north end of the same block. Formerly home to a slew of low-rise rowhouses, the block was cleared in recent years to make way for both projects.

The seven-story building will be designed by Fogarty Finger — the same architects designing Charney's adjacent tower.

Toyoko Inn had reportedly been seeking $60 million for the site, but it is unclear when Charney purchased it, as a deal does not appear in city records. Charney did not immediately respond to an email requesting details.

Apartments in the new building will average out to about 1,040 square feet each, plus 5,100 square feet of commercial space. Notably, the plans do not touch the modest three-story building at 24-29 Jackson Ave., whose owner, mechanic Joe Nastasi, has refused multimillion-dollar offers to sell his property to Charney, according to the New York Times.

Could just be an early filing. We'll see.

[BuildThemTaller]

Disappointing if that's all they are going to build on that lot. It was slated to be a 50-story hotel and now a 7-story apartment?

[chris08876]

I would be inclined to think an early filing as well.

Also, "may". Sounds like speculation on the part of the original article (Patch).

[NYguy]

Originally Posted by chris08876

I would be inclined to think an early filing as well.

Also, "may". Sounds like speculation on the part of the original article (Patch).

Yeah, I haven’t looked at the filing, but if they had enough to build the 50-story hotel, it would seem they have enough to build more than what’s shown in that graphic.

[Busy Bee]

Is this some sort of FAR transfer situation?

[BuildThemTaller]

Originally Posted by Busy Bee

Is this some sort of FAR transfer situation?

That could be. There is a short 2-story commercial building on the northeast corner of the block. The Santander Bank and other tenants that were there have all moved out in recent months. The developer cleared the land just to the south. Perhaps they are trying to transfer FAR to the condo development and will add the commercial building to the development.

[NYguy]

The hotel filing was under 24-09 Jackson Avenue. Not sure what the new building is filed under.


https://a810-bisweb.nyc.gov/bisweb/JobsQ...passjobnumber=421372516&passdocnumber=01

Total Building Square Footage: 363,707 sq.ft.

Building Height (ft.): 514

Building Stories: 50

[NYguy]

https://therealdeal.com/2022/05/02/charney-tavros-pick-up-stalled-lic-development-site/

Planned Toyoko Inn site offered for $60M


May. 02, 2022

A pair of buyers are in contract to pick up the development site of a planned hotel in Long Island City, potentially changing the course of the project.

Charney Companies and Tavros Capital are in contract to buy the development site at 24-09 Jackson Avenue in Queens from Toyoko Inn, PincusCo reported. The cost won’t be known until the sale closes, but the site was being offered at about $60 million.

Charney in February filed a permit application for the construction of a 54-unit, 61,000-square-foot project at the site. An owner can develop a 267,000-square-foot residential building on the site as-of-right.

Tavros and Charney have experience teaming up on projects. The companies in January bought a full-block site at 318 Nevins Street along the Gowanus Canal from Property Markets Group for $102 million. They plan to build about 660 rental apartments on the property, which has more than 500,000 square feet of buildable space.

[NYguy]

As expected, and a slight increase over the original proposal.



https://therealdeal.com/2022/08/04/tavro...ntal-tower-on-long-stalled-lic-dev-site/

Tavros, Charney plan 55-story rental on long-stalled site


BY PAT RALPH | RESEARCH BY JAY YOUNG
AUG 4, 2022

A Long Island City site where a developer once envisioned Queens’ largest hotel could soon give rise to one of the borough’s tallest apartment towers instead.

Tavros Capital and Charney Companies closed on the long-stalled development site at 24-19 Jackson Avenue for $68.3 million, records show. Together with a neighboring parcel owned by Tavros and Charney at 45-03 23rd Street, the property forms a triangular assemblage in the neighborhood’s Court Square area, where the joint venture plans a 55-story mixed-use tower with 600 apartments and 90,000 square feet of retail and offices, a Tavros representative told The Real Deal.

Seller Toyoko Inn, a Japanese hotel operator, spent $26 million cobbling together the assemblage between 2007 and 2014, eventually filing plans for a 50-story, 1,200-key hotel, which would have been its first in the U.S. and the largest in the outer boroughs.

But the hotel project never got off the ground, and after the City Council passed a measure last December requiring developers to obtain special permits before constructing new hotels, Toyoko Inn put the property on the market in January, hoping to get around $60 million for it.

A CBRE team led by Dan Kaplan represented the Toyoko Inn in the sale to Tavros and Charney, which went into contract in May. Work on the joint venture’s apartment tower has already begun: The project qualified for the 421a tax abatement because foundation work was done before the tax break lapsed in June, the developers said.

Tavros and Charney have experience teaming up on projects. In January, the companies paid Property Markets Group $102 million for a full-block site at 318 Nevins Street in a recently rezoned area of Gowanus, where they plan a 660-unit apartment building.

The partners also co-developed the 177-unit Dime rental building in Williamsburg and the 56-unit condominium building dubbed the Jackson at 11-51 47th Avenue in Long Island City.

[BuildThemTaller]

That is exciting news. I was waiting for someone to purchase and tear down the small 2-story commercial building on the corner there where the Santander bank was located. The bank closed over the winter, but it appears a small Japanese home goods and retail store is opening soon. I suppose this tower will be built on just the parcel where the Toyoko Inn was planned. A condo project had been planned and demo conducted on the adjacent lot along 23rd. It would be exciting if both projects started soon.

[chris08876]

JV Plans 55-Story Mixed-Use Tower in Long Island City

August 08, 2022 at 06:42 AM

Tavros Capital and Charney Companies have closed on the acquisition for $68.3M of a Jackson Avenue development site in Long Island City where the partners are planning to build a 55-story mixed-used tower with up to 600 apartments and 90K of retail and offices.

The partners are combining the property, located at 24-19 Jackson Avenue, with a neighboring parcel that they own at 45-03 23rd Street to create a site large enough for the high-rise, which will become the one of the tallest residential towers in Queens.

================
https://www.globest.com/2022/08/08/jv-pl...ong-island-city/?slreturn=20220711181216

[chris08876]

A little more backdrop: August 04, 2022

= = = = =



Tavros, Charney plan 55-story rental on long-stalled site

A Long Island City site where a developer once envisioned Queens’ largest hotel could soon give rise to one of the borough’s tallest apartment towers instead.

Tavros Capital and Charney Companies closed on the long-stalled development site at 24-19 Jackson Avenue for $68.3 million, records show.
Together with a neighboring parcel owned by Tavros and Charney at 45-03 23rd Street, the property forms a triangular assemblage in the neighborhood’s Court Square area, where the joint venture plans a 55-story mixed-use tower with 600 apartments and 90,000 square feet of retail and offices, a Tavros representative told The Real Deal.


Seller Toyoko Inn, a Japanese hotel operator, spent $26 million cobbling together the assemblage between 2007 and 2014, eventually filing plans for a 50-story, 1,200-key hotel, which would have been its first in the U.S. and the largest in the outer boroughs.

But the hotel project never got off the ground, and after the City Council passed a measure last December requiring developers to obtain special permits before constructing new hotels, Toyoko Inn put the property on the market in January, hoping to get around $60 million for it.

A CBRE team led by Dan Kaplan represented the Toyoko Inn in the sale to Tavros and Charney, which went into contract in May. Work on the joint venture’s apartment tower has already begun: The project qualified for the 421a tax abatement because foundation work was done before the tax break lapsed in June, the developers said.

======================
https://therealdeal.com/2022/08/04/tavro...ntal-tower-on-long-stalled-lic-dev-site/

[NYguy]

^ I think that may be this one

https://skyscraperpage.com/forum/showthread.php?t=173102

[NYguy]

https://www.prnewswire.com/news-releases...ents-with-tavros-holdings-301632060.html

INCOCO CAPITAL ANNOUNCES INVESTMENTS WITH TAVROS HOLDINGS




Sept 23, 2022

The company partnered with Tavros Holdings, LLC ("Tavros") to acquire a trophy development site located at 24-19 Jackson Ave in the Court Square submarket of Long Island City for $68.3 million. INCOCO and Tavros will combine the acquired site with the neighboring lots currently owned by Tavros and co-develop the aggregated site into a 55-story Class A mixed-used tower with more than 600 apartments and 90,000-square feet of commercial space.

The project is located one block from the Court Square subway station and is one of the most transportation and commuter friendly locations in the outer boroughs of New York City. In connection with the project's construction, the development team has partnered with the MTA to improve the subway infrastructure in Long Island City. Once the building is completed it will enjoy proximity to the nearby parks, shopping, cafes, restaurants, views and a myriad of water activities in the East River.

“After a six-year assemblage process, we are delighted to begin work at our Long Island City project," said Nicholas Silvers, founding partner of Tavros Holdings. "Our valued relationship with INCOCO has been crucial in completing the acquisition of what we believe to be the single best development site in Long Island City. To share our work together is a real honor."

[BuildThemTaller]

My main question around this one is the footprint of the building. The image above shows the entire triangle lot will be part of the tower.

The east corner is a 2-story commercial building that has a brand new tenant in the main floor, a Japanese market of some kind.

The northwest corner is a holdout residential property at 45-01 23rd St. When the rest of the row houses along that stretch of 23rd were razed a year or two ago, 45-01 was the one left standing. Did that finally get included in the property or is that going to remain as-is?

[NYguy]

Whatever is in the new plans is what they will build.

[chris08876]

Hopefully now that the acquisition is complete we will see some quick movement on this. LIC is hot!

I do on a side note question the unit counts. Not that 600 is low but would be nice to amp the number up. Even though there is a 90k commercial aspect, units seem underwhelming given the site foot print.

[BuildThemTaller]

Originally Posted by chris08876

Hopefully now that the acquisition is complete we will see some quick movement on this. LIC is hot!

I do on a side note question the unit counts. Not that 600 is low but would be nice to amp the number up. Even though there is a 90k commercial aspect, units seem underwhelming given the site foot print.

I think the footprint is smaller than the image on the last page. They must not have acquired the eastern corner.

[NYguy]

This FAA study suggests that this will be two 54-story buildings at 676 ft....


https://oeaaa.faa.gov/oeaaa/external/searchAction.jsp?action=displayOECase&oeCaseID=573895691&row=3

Structure Type: High Rise/Sky Scraper

Structure Height: 676

Description of Proposal: Two 54-story mixed use buildings

[Busy Bee]

It takes two baby...

Nice.