Another major residential development is now likely to join two other huge apartment projects in Astoria, Queens, that builders want to construct along the neighborhood’s suddenly booming waterfront.
Shibber Khan, the real estate investor and developer who operates the firm Criterion Group, has scooped up 11-12 30th Drive, a parcel that stretches from Vernon Boulevard along the Astoria waterfront to 12th Street. The property can accommodate residential buildings of up to 10 stories, and totaling 460,000 square feet, if a component of affordable housing is included.
Mr. Khan paid about $57 million for the land, which is now home to a sprawling low-rise warehouse occupied by wholesale grocer Bohea Associates. The deal follows a couple of others recently nearby.