NEW YORK | Sven (29-37 41st Ave) | 751 FT | 63 FLOORS

[patriotizzy]

I can't believe all this space is necessary. Well, it's not that I don't, it's just unbelievable, per say. Crazy!

[fleonzo]

Originally Posted by Vortex11

^^
Are all these buildings definitely going to get built, or are a lot of them just proposals at this point?

As NY Guy has stated (and as a LIC resident myself), yes most of these are already under construction. That "pre" rendering shown is a little old so a lot of these buildings are already above street grade.

[NYguy]

Yeah, it's worth another look. It's almost like a "just add water" instant skyline, the way things are going over there.

Originally Posted by NYguy

Cool graphic (missing the biggest of them all, but still cool)...

http://www.6sqft.com/queens-new-skyl...g-island-city/

[jbermingham123]

So by 2020, if you include buildings that haven't been proposed yet, Queens will have basically added an entire Denver to itself

[chris08876]

Originally Posted by jbermingham123

So by 2020, if you include buildings that haven't been proposed yet, Queens will have basically added an entire Denver to itself

When we look at raw sq-ft, some of these clusters or development nodes add what can be comparable to other cities. Hudson Yards alone when we factor in Phase 1 and soon to be Phase II is larger then most downtowns. There's something like $40 billion+ just for the fiscal year of 2016 under construction and plenty more in the pipeline. If we look at the boom in the last 10 years, its like adding a whole Chicago worth of skyscrapers. It just might not be evident because of how they are distributed over a large area, but its quite incredible. If you want to see another node that arguably can be compared to a mid sized U.S. city, look at Flushing. Lots planned for the area, and its already quite large.

[NYguy]

Here's another look at LIC development currently on the rise...





https://commercialobserver.com/2016/...in-five-years/

[chris08876]

PMG, Hakim Organization look to sell massive clock tower development site in LIC

Kevin Maloney’s Property Markets Group and the Hakim Organization are looking to sell their 1 million-square-foot, 800-unit clock tower development site in Long Island City.

The developers have listed the site at 29-37 41st Avenue with commercial brokerage HFF, Queens Beans first reported.

Andrew Scandalios, Christopher Peck, Eric Anton, Rob Hinckley and Jeff Julien are marketing the property. Sources confirmed the listing to The Real Deal but pricing was not available, and a representative for PMG could not be reached for comment.

PMG and Hakim paid at least $133 million to assemble the shovel-ready site in the Queensboro Plaza neighborhood, which has a 15-year 421a tax abatement in place and $35 million in brownfield tax credits, Queens Beans reported.

In November 2014, PMG picked up a large portion of the assemblage at 29-37 41st Avenue for $46.3 million, as TRD first reported.
Maloney’s firm then bought the adjacent clock tower site for $30.9 million. Property records show the developer then paid $49 million to the Metropolitan Transportation Authority for several parcels, plus an additional $6.7 million for air rights.

The developers got as far along as to hire the Marketing Directors as new-development consultants on the project – known as Queens Plaza Park – where about one-third of the apartments would set aside as condos.

========================
http://therealdeal.com/2016/07/08/pm...t-site-in-lic/

[NYRebel]

Soooooo this probably means this isn't happening or it'll be a while before anything new happens/if whoever buys want this height etc.

Sucks.

[Sky88]

So, we can say goodbye to this project. This developers sell only smoke in the people's eyes. Shame!!

[chris08876]

Originally Posted by Sky88

So, we can say goodbye to this project. This developers sell only smoke in the people's eyes. Shame!!

I think something will rise at this site. So parcel wise, it isn't dead. But if we get the 915 foot tower remains a mystery. HOpefully whoever buys it is aggressive and will take advantage of the development rights.


Credit: http://queensbeans.com/pmg-selling-c...ens-plaza-lic/

HHF is currently marketing the Development site for Kevin Maloney’s PMG, at 29-37 41st Avenue in Long Island City’s, Queens Plaza district. According to the marketing, the property is over 1 million square feet, with a 15-year 421 tax abatement, $35 million in brownfield tax credit and the plans for the project. The plans call for 68 stories, and amenities such as a 1 acre park, automated parking, a bar and lounge, fitness facility, spa, Jacuzzi, library, social bar, movie room, kids room and more.

PMG assembled the site in 2014 after the properties had already traded. One part of the assemblage was sold to PMG from Steve Cheung back in November of 2014 for $46 million, 3 years after Steve bought it for $8 million. PMG acquired the Clock Tower from Shibber Khan of the Criterion Group for over $30 million in November of 2014 after Khan paid $15 million for it 6 months prior. PMG also bought $56 million worth of additional air rights from the MTA back in March of 2015.

[NYguy]

Originally Posted by Sky88

So, we can say goodbye to this project.

No, you don't say goodbye to this project. This particular design, maybe.

I would like to see JDS brought on, as working with landmarks buildings seem to be a specialty for them. Then we would likely see SHoP brought in to give Queens an iconic tower like they are doing for Manhattan and Brooklyn. Of course, JDS would have to get the property before another developer.

[chris08876]

Current Site:


Credit: JC_Heights

[chris08876]

This will be a stunner. This, and 9 Dekalb will be two new tallest for the borough. Also, if you count the 6th borough, JC, 99 Hudson will redefine it, sitting higher and bulkier than 30 Hudson Street. So in sum, all the boroughs technically are getting new tallest. Manhattan being a quasi-exception, although by roof height, it is. Depends how you view it. Also, Staten Island. While not a skyscraper per say, I guess the Ferris Wheel will count for something. Either way, tall shit is rising.


Credit: http://licpost.com/see-queens-talles...led-renderings

[tdawg]

This is canceled, isn't it? I was never a big fan of this design.

[Busy Bee]

Originally Posted by tdawg

This is canceled, isn't it? I was never a big fan of this design.

It interacts with the clock tower building like a square interacts with a round hole. IF this project is a go lets hope it gets redesigned by a competent firm.

[NYguy]

Originally Posted by tdawg

This is canceled, isn't it? I was never a big fan of this design.

The building isn't canceled. The design itself may change.

[TonyNYC]

Durst making a big play in Long Island City... Buys Clock Tower Site for 173 million.


http://ny.curbed.com/2016/12/16/1398...kyscraper-sale


It looks like a skyscraper could still rise on the development site behind Long Island City’s landmark Clock Tower. The Real Deal reports that the Durst Organization purchased the property from original developers Property Markets Group and the Hakim Organization, and will turn the site into a huge rental building spanning more than 1 million square feet.

The New York Times has a bit more on how the deal came to be: PMG and Hakim had spent several years assembling parcels of land to create an L-shaped mega-tower that would wrap around the LIC clock tower, which became a NYC landmark in 20154. But back in July, facing financial issues, the development site became available because, according to PMG’s Kevin Maloney, “we didn’t have the horsepower to get it done.” (But the developers are still working on a 44-story tower close to Silvercup Studios.)

The Dursts snapped up the property for $173.5 million, according to the Times, and are still considering building a more than 900-foot tower on the site. When the project was first revealed in 2015, that would’ve made the building the tallest one outside of Manhattan, but times change: JDS’s Brooklyn supertall has since eclipsed that title.

As the Times points out, this is yet another sign of what has been known for some time: the demand for high-end residential buildings isn’t exactly outpacing supply, and developers are jettisoning or holding off on building pricey properties. But Maloney sees one upside in this turbulence: “The good news is that land prices should start coming down.” (Well, it’s good news for developers, anyway.)

[tdawg]

With Durst now behind this project, I have high hopes for something more architecturally interesting.

[NYguy]

Originally Posted by tdawg

With Durst now behind this project, I have high hopes for something more architecturally interesting.

That's always the hope when these things happen. Now, if only they will bring in SHoP, that firm handles these landmark towers well.



http://mobile.nytimes.com/2016/12/15...ww.google.com/

The Dursts said they would erect a rental tower that may be just as tall as Mr. Maloney had planned, 914 feet.

As a rental, it would be easier to get built now. But it was no longer going to be Queen's tallest anyway.

[chris08876]

Rentals are a must. One of the hottest neighborhoods right now is LIC, and people want to move there.