June 30, 2015 By Jackie Strawbridge
The recent $43.5 million sale of a taxi lot on Jackson Avenue will pave the way for a new luxury condominium tower, according to brokers.
Adam America Real Estate purchased the site, located at 22-12 Jackson Avenue, from the Diamond Service Corporation with the intention of developing the site.
The company plans to build an 11-story condominium that will hold 186 residences, including studios, one-, two- and three-bedrooms, as well as 5,000 square-feet of retail space, according to a release from Adam America.
Amenities will include a swimming pool, spa, courtyard, kids’ playroom and fitness center.
There will be roughly 15,500 square-feet of private parking space.
Ronald Solarz of Eastern Consolidated, who brokered the deal with Chris Matousek, said he expects this development to serve a demand for condos in a market saturated with rentals.
“Most of the new development that’s occurring is going to be rental product, but the demand for condominiums in Long Island City is extremely strong, and there are very limited numbers of condos coming on the market,” he said. “Because of that fact, this site is going to be in my opinion a homerun.”
Solarz added that the appeal of the Jackson Avenue condos is that they will provide quick access to midtown Manhattan yet will priced much lower compared to similar units across the river.
The new condo will be located next to an 11-story, 180-unit apartment building at 22-22 Jackson Avenue and steps from the former 5Pointz site.
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8 Comments
Bloomberg and his philosophy (respect for wealth and the wealthy first, community nil) fostered this wild west approach. Queens, as a “small town” collection of communities needs to rise up against Manhattanization. Been to midtown lately? Can one walk on Union Square? (thanks NYU)?
New arrivals sense the breakdown in community and believe it is the norm. And “don’t care” becomes a terrible children’s teaching tool.
Adam America is building all over Brooklyn too. not a great product, and in partnership with Slate Property Group.
I don’t predict this to be a particularly appealing building. Some may agree with me if they have seen their other projects.
we need more retail. not just more retail, but affordable retail.
local businesses who want to open up shouldn’t be asked to pay $100 sq foot. It’s ridiculous considering what the area needs is local shopping and more food attractions around here.
there is nowhere in the area to buy a pair of socks in LIC and they’re asking $100 / sq foot for retail….obscene.
I love all the Magellans and Columbuses (Columbi?) on this site. I have been guilty of it, as well. We moved to LIC, some sooner than others, and we feel it is ours, our discovery. As a result, we resent all the new development, and resent any/all future inhabitants. Alas, this is New York City. A city that is constantly changing and shifting demographics and remaking neighborhoods. I used to live in downtown Brooklyn, an area previously devoid of any residential population (guess I ruined it). Then, I moved to LIC (guess I ruined it, too). Whatever. It is The City, where change isnt just inevitable, it is part of its being. Change happens. If you love NYC, then change is a part of that, so you should love that, too.
You sound like lots of other people in NYC who write off the tectonic changes that have happened in the past 15 years by citing the “NYC has always changed” mantra. What we’re seeing in this neighborhood right now is extraordinary and historic even by NYC standards — there really is nothing comparable in our lifetimes to what we’re seeing here, and so people are right to be concerned. Just two factors — population increases of more than 25% between 2000 and 2010 with lots more bodies landing here every day, and skyrocketing rents of 200%, 300% or even more — is not something any of us who’ve spent our lives in this city has any past experience of. So, yes, if you came to a neighborhood in the midst of an insane gold rush, so you can’t harp about it too much without exposing your own stupidity of what you got yourself into. But at the same time, there’s nothing surprising about people expressing wonder about all the rapid evolution going on here.
The remaking of neighborhoods is fine if it were planned well, which it is not. There is absolutely no foresight. A neighborhood full of residential development and almost nothing else does not make a great neighborhood.
I love how the article mentions quick access to Manhattan! No not it won’t be especially with all these buildings going up! Where are the decent supermarkets, schools, etc, etc, etc!
Right next to all of the other residential buildings and further crowding the neighborhood. Con Edison and the MTA better be prepared. And what about the schools and all of the other resources the neighborhood needs? Oh, that’s right, no one cares.
I totally agree with you Anon! Five pointz should still be there!