Silvercup Properties, the development arm of film and TV production company Silvercup Studios, is planning 120 condo units in Long Island City with a total sellout price of $108 million.
The Edison, located at 27-21 44th Drive between Sunnyside Yard and Jackson Avenue, will also have 6,780 square feet of retail space and 28 parking spots, according to a summary of the offering plan filed with the state Attorney General and reviewed by The Real Deal.
Silvercup, founded by brothers Alan and Stuart Suna with their father, Harry, acquired the site for $21.1 million from Vorea Holdings LLC and Meshburg Capital last year. Apartments will average under 1,000 square feet, according to previously-filed building plans.
The studio is also looking to revive its long-delayed $1 billion expansion project in Long Island City, which includes the development of eight sound studios, a 1,000 unit residential component, an office tower, a parking garage and retail space.
15 comments:
So these fellas made a nice profit of 80 mil in a year. I assume they don't live in the area and don't care what the consequences of overcrowding and lack of infrastructure and services will bring.
And how much did they get in subsidies for their studio expansion? And what will be "produced" there? more assembly line comic book regurgitations and mediocre streaming programs?
When is this going to stop?
Manhattan needs more of Queens' tax dollars. Where do you think the proceeds from the US Open, Citi Field, LaGuardia and JFK airports, have been going all of these years?
Of course when this brownfield starts to get flooded repeatedly, and the tenants flee from their waterfront white elephant stuck in the middle of nowhere and all but inaccessible (unless you want your wife to warmly snuggle next to the cabbage eaters on the International Express - who was the boro hall hack genius that dreamed up that alluring name?), then we can go big-time with 50 - 60 -70 story shelter housing enabled by Jimmy No Brainer, Cathy No-one and your tax dollars.
Units seem quite small.
The owners seem to be quite astute business people.
It would be a great opportunity to cash in on the homeless shelter business.
And a supply of cheap "exteras" at a moments notice.
They would be great for all the zombie flics currently in vogue.
Winter is coming...
LIC is the middle of nowhere? :D
Yeah we need more condos in Queens.
Go for it.
Soon we all be like sardines in tomato sauce.
LIC is the middle of nowhere? :D
Talk to me some January after you hiked to the train at night. In NYC transportation is everything.
I don't think 150 yards to the Court Square station constitutes a hike.
Remember Vicki Match Suna was one our LPC commissioner.
Yep....Stuart's wife. And she did shit to protect Queen's history. Now we have Wellington Chen, Queens' own to protect us.
Well, heaven protect us.
Remember Vicki Match Suna was one our LPC commissioner.
Yep....Stuart's wife. And she did shit to protect Queen's history. Now we have Wellington Chen, Queens' own to protect us.
Well, heaven protect us.
---
To say nothing of that boro historian or Grumbler's Group. The only think that can protect us is ourselves getting off our arses and doing something. Someday, somewhere, a group of people will accidentally help themselves by blundering into doing something like that - and see the opposition fall apart like the flimsy straw dogs they are.
That's right. You are like sheep held in place with nothing more than a cotton string with bits of colorful rags flapping in the breeze. Someone will lean against it and the string will snap leaving you free.
I don't think 150 yards to the Court Square station constitutes a hike.
Sure, you got the G the worst train in the city, the 7 stuffed with cabbage eaters and Queens Plaza (whose connection was blocked over the weekend and where the trains pretty much crawl through)
Living next to the din of a bridge ramp and within spitting distance of a train yard - with no walkable community amenities is always a nice touch - if you are a 16 hour a day tech drone living in a company apartment which is about the only thing that would move into that dystopian landscape.
I think we need to start to view real estate not on the basis of how much windfall the developer makes through tax beaks and public revenue subsidies, but in terms of long term viability as a livable place - something all the development in LIC fails at.
People always like something when its new and shiny, but look at the hotels in Dutch Kills - where a good portion will be shelters within the decade.
lI didn't know that who rides on a particular train line factored into how far it is from your place of residence. I stand corrected
I would like to point out that you're ignoring the E & M trains but I'm sure you have some fancy folk wisdom that explains them away as legitimate means of transportation.
One last thing: by cabbage eaters, did you mean the Irish?
To kingofnycabbies: You are really funny! In case you haven't noticed, most of the Irish left this awful "burro" a long time ago. Nooo, I think he's referring to our diverse population from Russia and Asia but please correct me if I err.
Can people stop with "residential component"? The area is TOO CROWDED. It needs a good mix of business and NO MORE residential.
"I think we need to start to view real estate not on the basis of how much windfall the developer makes through tax beaks and public revenue subsidies, but in terms of long term viability as a livable place - something all the development in LIC fails at."
So much truth in this comment. It's not sustainable if a neighborhood is 99.9% residential. What is wrong with these city planners and that LIC Partnership waste with their "Business Improvement District" study. Everyone has been paid off. That's all that seems to make sense here, because what's happening to the community makes no sense whatsoever.
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