March 14, 2016 By Jackie Strawbridge
Another luxury rental is coming to Long Island City, slated to rise 23 stories over the Queensboro Bridge.
Greystone Development announced Monday that it has acquired 24-16 Queens Plaza South for $23 million and plans to build a luxury rental residence on top of the existing building there.
According to Greystone, the building will have 117 rental units and stand 23 stories tall.
Amenities will include an outdoor pool, roof terrace, fitness center, a lounge and screening area, game room and co-working space.
There will also be 3,600 square feet of ground floor retail space.
“Long Island City is a burgeoning market. People want to call this area home because of its proximity to culture and commerce as well as to transportation. This residential property is being developed for those who value both form and function,” Jeffrey Simpson, head of Greystone Development, said in a statement.
The property is currently occupied by a five-story commercial building.
Construction plans filed with the Department of Buildings last October indicate that the new development will be an enlargement of this building, with 22 stories and a roof terrace rising on top of the existing five stories.
A Greystone spokesperson confirmed that the original structure will stay and said the conversion process began in the summer.