The former Asian grocery Assi Plaza, located in Flushing, is about to change hands again to make way for redevelopment.
Eastern Consolidated’s Capital Advisory Division has negotiated a $42 million bridge loan from a private lender on behalf of Triple Star Realty LLC, which used the loan to purchase the nearly 100,000-square-foot property on which the former supermarket sat. The total acquisition cost was upwards of $90 million.
Triple Star Realty plans to raze the existing structures on the former supermarket site in order to develop a 631,752-square-foot, mixed-use waterfront complex that will consist of a 360-unit condominium and a 200-room hotel, as well as a supermarket, retail and office space, and parking. The development will be comparable to other large-scale projects, such as Sky View Parc, Flushing Commons and Willets Point.
14 comments:
That water smells sooooo bad! That's the water you cross over on the illegal train headed into china!
So that's where the Willets Point Development is now going to be built.
You'd have to be totally fucking insane to buy a condo on downtown Flooshing!!! What a shithole!
Let's see what kind of deal CB7's chair of land use Chuck Apelian can cook up for this one.
It's an underutilized waterfront site. Prime development space.
Assi Plaza? Really?
Is there a branch of the Wong Fook Hing Book Store located in the plaza?
https://c2.staticflickr.com/8/7351/10370055093_9e73c67b20_b.jpg
Wasn't that the site where Oldsmobile service their new cars ?
I worked at the site in 1970 when it was a USPS facility and the smell was so bad some people became sick.I think the water quality has improved since then but still raw sewage enters Flushing Creek and Bay after a storm but that is true in all NYC waterways.
I think mostly Asians will be attracted to this area and they don't seem too concerned about where they live and are probably just glad to be in the US near a large Asian community.
Just what FRUSHING needs more overcrowded shithole apts and more cars and traffic.
It costs me , but it's worth it in the end.
The LIRR speeds me past all the shit, high enough above it all.
I feel I'm on a ride in a theme park whisking by the filth and stench.
All I have to do is briefly hold my nose as the train passes over the fragrant Flushing River.
Aerial slumming is what you might call it.
I used to bus it and then take the #7 to work.
Now you can't squeeze into that sardine can during rush hour.
Time to buy some future beachfront property in South Dakota.
Anon # 11:
There are no beachfronts in South Dakota. Look at the map.
Chinese people are richer than us now. I feel depressed, why we are poor. Are we lazy? Why?
Anon No. 12: maybe not now, but check Crapper's next posting and you might understand.
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