The Real Deal:
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.