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Queens Plaza Site Acquired For $23M, More Than 100 Luxury Rentals Planned

queensplazasouthpermit

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.

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11 Comments

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anon

people that can afford these apartments in these areas also work hard every day to afford them. the idea that everyone moving into a luxury apartment is from a trust fund and just lounging during the day is ridiculous. By that thinking, maybe they should start making some of the buildings on central park south more affordable for the working class that are forced to live in the luxury apartments in LIC. Central park shouldnt just be for billionaires, right? Not fair that a typical yuppie that works hard to earn a nice salary shouldnt have the same right to live in a desirable area of manhattan!

Reply
MRLIC

All these Luxury rentaals/condos that don’t fill up will become some sort of shelters because the city pays handsomely for the homeless families. Developers can make a lot of money from the city.

Reply
Dana

This applies more so to the “hotels” in manufacturing areas, a way to bust the usage intended, and, as untenable locations, smoothly morph into homeless housing, further busting the area.
Hotels are not businesses, as in producers of a service or object. This loophole must be closed.

Reply
jacky

Great News…I love LIC and I am all for housing developments as long as they are not shelters or hotels.

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In my day...blah, blah, blah...

What is needed is more affordable apartments for working class folks. WORKING CLASS folks busting our asses everyday to make rent month-to-month. Not some douchebag yuppie enclave with shitty materials disguised as “luxury” rentals. Ugh!!

Reply
dur

If you cant afford an area then leave. It was too expensive for me in Manhattan so i moved.

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Amadeo Plaza

I can’t begin to express how much I appreciate that they’re going to incorporate the building into the design instead of tearing it all down. We need more of that.

Reply
Mr Gorbachev, tear down this ugly building with an abandoned post office

That building isn’t particularly attractive though, and just slapping some glass box on top of it will look worse than a uniform facade.

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