Saturday, May 16, 2015

Whitestone developer might build 45 homes...or sell the land

From the Queens Courier:

The new owner of the former Cresthaven Country Club site in Whitestone is hoping to break ground on a massive development project of 45-single family detached residents by the end of the summer.

Most of the homes on the six-acre site will have approximately 2,500 square feet of living space with four bedrooms and four full bathrooms, according to Tim O’Sullivan of Fulcrum Real Estate Advisors, which purchased the site in a foreclosure auction last month for $13.6 million.

Great Neck-based architect Frank Petruso is designing the project. The current plans could change, but the 45 homes in O’Sullivan’s plans would sit on 4,000- to 6,000-square foot lots, so each could have space for driveways and private yards. And based on the renderings, homes would have garages and basements. They could sell for $1.5 to $2 million each.

Although original plans were for 50 homes, they were shrunk to 45 so each home will have more space.

However, as smart investors do all the time, O’Sullivan is testing the real estate market to see the possible value for the site and has listed it with brokerage Cushman & Wakefield. He is taking offers for the site, but said a potential buyer would have to offer a price that “hit it out of the park” to get him to sell the site.

9 comments:

Anonymous said...

This guy Frank Petruso has designed number of houses in Little Neck - one uglier than the next.

Anonymous said...

Petruso designed a project on the west side of 223rd Street between 39th & 41st Avenues in Bayside. The project seems to be problematic. It is moving along at a snails pace. It falls into the ugly category -- thus far. Also, it appears that it may be contrary to zoning regulations. Also, it seems to be building contrary to the building plans.

Anonymous said...

Hearsay, some of O'Sullivan's former clients have been less than happy with his services and arrogant attitude.

Anonymous said...

http://queenscourier.com/whitestone-to-protest-against-overdevelopment-of-waterpointe/

Anonymous said...

OMG!
Another Frank Petruso atrocity. Guinea goombah palazzo stu cazzos are his specialty.

Anonymous said...

Gag!
There is one of his on the west side of 165th Street...second house in from 35th Ave.
He is a brick box specialist who uses computer design programs to impart some "architectural" variations.

No charm...no grace...these are heavy handed monsters.
That he calls himself an "architect" is a major exaggeration.

Anonymous said...

What the hell. Malba and Beechurst look like crap, so why not screw up Cresthaven too.
This is whole area has become an enclave of wise guy or wannabee wise guy types.
Paul Vallone fits in just right as a champion for these gavones.

Richard Iritano said...

I call these eye sore developments 'hideosities,' and I may have unintentionally created a new word.

Recently, I looked it up in the dictionary, and it doesn't appear to exist---except as a personal descriptive for the residential and commercial collapse of so many former Queens neighborhoods and communities (because of appalling design and construction that completely mars the integrity of everything that used to symbolize aesthetics, taste, appeal and form that always followed function).

Sadly, ugly development and 'hideosities' are here to stay---and the public be damned!

Anonymous said...

Now here's an idea: another beach club!