You are reading

Demolition begins at former Paragon Paint Building site for 23-story mixed-use tower in Long Island City

45-40 Vernon Blvd. in Long Island City. Photo via Google Maps.

Oct. 30, 2024 By Ethan Marshall

Demolition work is underway for a structure at the site of an upcoming 23-story mixed-use building at 45-40 Vernon Blvd. in Long Island City.

Formerly the site of the Paragon Paint Building, the derelict structure now has a hallowed framework. Scaffolding and netting have covered its main eastern elevation.

The former Paragon Paint Building will be repurposed into the podium of the upcoming tower. The restructured building will extend to the west, with the mixed-use tower expected to be built there. A landscaped plaza will take up the cleared space to the south, extending to 46th Avenue. Another public plaza, with waterfront access to Anable Basin, will be featured just north of the property. Factoring in the plazas, a total of 20% of the development will be dedicated to outdoor space.

Once demolition is complete, construction will begin on a new mixed-use building that will stand 262 feet tall and cover 192,500 square feet. It will be comprised of 226 residential units and commercial space on the lower level.

The mixed-use building was designed by Archimaera. ZD Jasper Realty, the developers of the upcoming tower, purchased the development from Quadrum Global, Baron Property Group and Simon Development for $47 million in the spring of 2024. The anticipated date for this building’s completion is Fall 2026.

The three previous owners of this development had initially invested $14.6 million towards converting and expanding the Paragon Paint Building into a mixed-use property in 2013. Plans for a 28-story building with 296 units were announced in 2015, but the scope was revised in 2022 into its current configuration after facing community opposition.

In addition to the $14.6 million investment in converting the property, the three previous owners also spent $13 million to remediate the site under the New York State Brownfield Cleanup Program. Work included clearing the contaminated soil, treating groundwater, and replacing the timber bulkhead/seawall along the Anable Basin.

 

email the author: news@queenspost.com
No comments yet

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Celebrate Cinco de Mayo at these Mexican restaurants in Queens

May. 5, 2025 By Paulina Albarracin

Queens is a true melting pot of cultures, and few celebrations capture that spirit quite like Cinco de Mayo. Every year, the borough comes alive with vibrant festivities and the unmistakable aromas of Mexican cuisine, as local eateries prepare for one of the most festive cultural holidays on the calendar.

ASPCA promotes free and low-cost vet care in Long Island City for National Pet Week

As National Pet Week begins across the country, the ASPCA is spotlighting its newest Community Veterinary Clinic in Long Island City as a model for increasing access to pet care in underserved neighborhoods.

The Queens clinic, which opened in September 2024 near Queens Plaza, is the third ASPCA-operated location in New York City, joining similar facilities in the Bronx and Brooklyn. Since its launch, the clinic has become a vital resource for pet owners in western Queens neighborhoods including Astoria, Sunnyside, Woodside and Jackson Heights, offering free and low-cost veterinary care to eligible families.

Hard Rock CEO outlines vendor opportunities for $8B Metropolitan Park casino project

May. 2, 2025 By Shane O’Brien

Hard Rock International Chairman and CEO Jim Allen addressed hundreds of Queens-based vendors and small business owners Thursday morning at the Queens Theatre, outlining how they could play a key role in shaping the proposed $8 billion Metropolitan Park casino and entertainment complex near Citi Field—if the project is awarded one of the three downstate gaming licenses up for grabs later this year.

Beyond brunch: Unique ways to celebrate Mother’s Day in Queens

May. 2, 2025 By Jessica Militello

With Mother’s Day just over a week away, there’s still plenty of time to plan something meaningful in Queens to celebrate the special women in your life. While brunch or dinner is always a classic choice, there are also unique and memorable ways to mark the occasion with family and friends. From candle-making workshops and floral arranging classes to beer tastings and hands-on crafting, here are some fun and heartfelt ways to celebrate Mother’s Day right here in the community.