Jan. 12, 2013 By Bill Parry
A large Queens Plaza property seen by riders of the 7 train on their daily commute is slated to be demolished and replaced by two residential towers.
Property Markets Group, a well known residential real estate development company in New York City, plans to demolish 23-10 Queens Plaza South, the 5-story former Eagle Electric factory building to make way for the construction of two 28 story residential towers with a total of 410 units and retail space on the ground level.
Last month, PMG purchased the Queens Plaza South property and adjoining lot 23-01 42nd Road for $37million.
The deal represented a partnership consortium among PMG, Vector Group and the Hakim Organization with The Kraupner Group as the seller.
Kevin Maloney, the founder and Executive Director of PMG said, “We are pleased to develop much needed, convenient housing for Manhattan Commuters.”
Howard Lorbey, President and CEO of Vector Group said, “We believe this high quality location will prove to be an attractive redevelopment opportunity.”
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12 Comments
U. N. Agenda 21 at work….just stack ’em all up into 250 sq ft. boxes for Bloomberg.
What is UN agenda 21?
http://www.therightscoop.com/sustainable-development-agenda-21-explained/
@ Paul The building in the picture with the “Apex” sign was also an Eagle Electric building could that be the one you were thinking of ?
How anyone can call living next to two squeaky trainlines and 11 lanes of bridge traffic luxury is just so far beyond my imagination, I can’t describe it. I think they are all drunk with the thought of the profits.
Just wait until there is another story with the leader of the community board consoling the residents by saying, “Yes, we will make those railroads be quiet so you can sleep in your luxury apartment. And the cars? They will all have to be turned off and their owners will carry them past your house so you don’t have to breath the exhaust.”
They are all deluded. But obviously I am the one who’s crazy. They’re selling them like snowcones in hell. I just don’t get it.
Too bad! Such a beautiful building.
Just what we need….more hipsters and yuppies on on 7 train….ugh.
I couldn’t agree more. We need more of them here to tell us how to live here properly. We just don’t appreciate how hip this place is.
Didn’t they JUST finish restoring that building?? Is this the correct building on the photo?
I read somehere else that part of it would be destroyed and a 30 story tower built, but maybe that is another Eagle Electric building.
How many more people will the 7 line handle after the signal work is finished?
I like how it’s for manhattan commuters not Queens Residents
exaCTLY THIER be a lot of whores for them.