March 29, 2017 Staff Report
A developer filed plans yesterday to build a new 11-story mixed use building in Long Island City, bringing more than 70 new apartments to the area.
Manhattan-based developer Circle F Capital filed plans yesterday to build a 74,805-square-foot building with retail space and 71 residential units at 22-43 Jackson Avenue, near MoMA PS1 and the 5Pointz development.
According to the plans, the building will have three retail spaces on the ground floor totaling 11,725 square feet.
The second floor would hold a 46-car parking garage with 43 spaces for residents and 3 commercial spots, according to the plans.
The upper floors would contain 64,056 square feet of residential space, with a business center, meeting room and gym on the third floor and between 7 and 12 residential units on each floor. According to the plans, some of the units would have balconies or terraces.
Circle F bought the property last spring for about $25 million, which was home to the one-story building housing the Teamsters union Local 808, The Real Deal reported at the time.
Exactly right. Wonder if this development glut bubble will burst at some point. Am remembering an area in NJ years ago,where multiple condo neighborhoods were built on what had been woodland. At one point, the for sale (only)condo signs turned into “For rent” , all over the place,& then “For rent- first month free”,etc…
The over development of LIC continues. Another Luxury Condo or rental building more than likely if hey have 43 parking spaces for tenants. Even the $7,000 a month Hunters Point family rentals don’t have parking spaces in the building. I hope they can deal with the 7 train noise for all they will pay. Why not a small movie theater or some kind of retail store that we could use. Even a drug store would be welcome. Affordable housing would be nice. Come on Jimmy No Brainer and DumBlasio , you can do better.
The Over development of LIC continues. The retail space will rent for too much more than likely and will stay empty or probably be home to a “HIGH END” restaurant. Is the housing affordable???? Probably not if the tenants have 43 parking spaces for themselves. A small movie theater or a food store or anything but another Luxury condo/rental building . Even affordable housing would be welcome. Come on Jimmy Van Bramer and DumBlasio you can do better than this.