A long-defunct parcel of land located on Flushing’s waterfront will have a new owner, according to previously published reports.
On Nov. 16, The Real Deal reported that developer Chris Jiashu Xu, of the Corona-based United Construction & Development Group, is in contract to acquire the 3.7-acre site at 39-08 Janet Place, also known as 131-35 Roosevelt Ave., for over $100 million.
This particular site has a rocky history, including a brush with foreclosure and stalled development plans that have left it deserted and in disarray. Plans for a five-tower, mixed-use development designed by architect Ismael Levya were first developed in 2006, when the sellers—an investment group consisting of ABS Mangement & Development and Babad Management—first purchased the property. The plans are approved by the city, but the property remains barren.