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63-story rental building to go up next to Clock Tower

July 5, 2017 By Christian Murray

It was always going to be big—just how big.

The Durst Organization filed plans Friday to build a 63-story building on the site next to the former Clock Tower Site.

The site, located at 29-55 Northern Boulevard, will include 763 rental units and about 9,000 square feet of commercial space.

Durst’s plans are no great deviation to what was proposed when the former owners Property Markets Group and Hakim Organization put forward plans. They proposed a 70-story building with 930 units.

PMG’s plans were controversial given the size. However, no zoning changes were required, since they bought unused air rights from the MTA that allowed to them building higher than city planning would otherwise have permit.

Instead of building the structure, they sold the property to Durst for $175 million in December.

Durst at the time of purchase said that it needed the 421-a program, which provides developers tax breaks in exchange for affordable housing, to be restored before it could build. At that time the program had expired.

State lawmakers made some changes and brought the program back earlier this year. As part of the program, Durst will be required to have at least 25 percent of the units be affordable.

Durst is currently working on the Hallets Point development in Astoria that will eventual feature 2,400 apartments across seven buildings.

The Real Deal was first to report on the plans.

PMG’s Rendering in 2015

 

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5 Comments

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rikki

I said it a long time ago it will be 25 years before they can build a new tunnel under the east river the only way to survive this is to work 2nd 3rd shift or reverse commute to kew gardens

NYC is the most congested 9-5 M-F place i have ever lived, most other cities have shift work factory work stores open 24 /7 they have military bases

Stop being so stupid we dont need affordable LUXURY apartments we need plain basic workforce housing and give tax breaks to them like peter cooper basic no frills apartment at a basic no frills price

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Anon777

When does it end? There isn’t enough of anything in the neighborhood to handle all of the people. Everything cannot become a residential building. What happened to commercial?

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Jeeze

And people are petitioning to have Van Brammer be on the democratic ticket. He’s an obvious sellout.

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MRLIC

STOP BUILDING WITHOUT PLANNING FOR INFRASTRUCTURE ALREADY. NYC / LIC Doesn’t understand this rule of thumb. Cmon Mr. Van Bramer, stop this madness.

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