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Plans filed to demolish garages across former 5Pointz site, residential building may be coming

45-57 Davis Street

Oct. 23, 2017 by Nathaly Pesantez

Demolition permits have been filed to take down a couple of warehouses spanning three addresses on Davis Street, across from the former 5Pointz site that is undergoing construction.

The three permits for addresses 45-49 Davis Street, 45-51 Davis Street, and 45-57 Davis Street were filed on Oct. 18, and are comprised of three, one-story tax lots in two buildings.

The Vorea Group, the real estate company based in Long Island City, is in the midst of purchasing the 108,000 square-foot combined parcel for $21 million, the Real Deal first reported. The developer plans on bringing a residential building to the properties, currently owned by a family of woodworkers.

Stephen Preuss, senior managing director at Cushman & Wakefield and the real estate broker managing the sale, told the LIC Post that the completed building will be over 100,000 square feet, and will primarily be a residential building with rental units. There is a possibility of ground floor commercial space, he added.

Construction can begin as soon as the end of 2018, Preuss said, and should take approximately three years to complete.

The parcel sits directly across from the residential development that will bring two towers over 40-feet high and 1,000 units to the former 5Pointz site.

The Vorea Group’s developments include Jackson Square, a planned mixed used development with over 30,000 square-feet ft of retail and over 50,000 square feet of office space in Court Square, and the renovation of an industrial warehouse at 12-01 44th Drive. 

45-57 Davis Street as seen from above (Google Maps)

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20 Comments

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MRLIC

When DumBlasio gets the 50 block rezoning he wants from Queens Plaza down Jackson Ave. to he waterfront and from Queens Plaza towards Northern Blvd., the development will be massive. Even newer tenants will not recognize or like the area after a while it will be so crowded as it is getting now. To Hanging at Brooks,, what makes you think I live there?

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MRLIC

Again, if DumBlasio gets his REZONING of the 50 BLOCKS of LIC he wants. 25 blocks from Queens Plaza down Jackson Ave. to the waterfront. 25 blocks from Queens Plaza towards Northern Blvd. No one will recognize LIC as it is now never mind before that. The DEVELOPERS will be frothing at the mouth to buy buildings in the Rezoning for UPSCALE LUXURY CONDOS. Even newer tenants may be displaced or won’t be able to afford the ever RISING RENTS !!!!!! What makes you Think I live down the block from Brooks?

Reply
Crawdad

That actually sounds great. NYC desperately needs new housing, so if there’s a major rezoning planned, I’m all for it! Would be wonderful to replace crappy vacant lots and one-floor storage warehouses with desperately needed apartment towers.

Reply
MRLIC

Anonymous is right ,when will all this development STOP. One on top of the other is ridiculous.STOP already DumBlasio and JVB.

Reply
Anonymous

These developers have to get these approved by City Planning, don’t they? How is city planning so short-sighted that they approve residential, on top of residential, on top of residential?!? The neighborhood is done.

Reply
Anonymous

they don’t get the approval all of the counsel people pockets are lined that is exactly how it works –

Reply
young_man!

Most of the industrial properties in the area were rezoned to residential several years ago.
No need to get approvals from anybody as long as they conform to their zoning envelope.

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