QNS
A new proposed Flushing development may become the tallest building in the borough of Queens outside of Long Island City.
The 400-foot-tall structure consisting of two residential towers, 39 stories each with four floors of underground parking and an official address of 71-12 Park Ave., will include 488 apartments, according to plans pre-filed with the Department of Buildings (DOB) on Tuesday.
Plans to construct the two development sites, with a total area of 2.4 acres, were announced by David Marx, of MDG Real Estate Global Limited, who purchased the lot for himself, The Real Deal reported. On Aug. 4, MDG announced that the sale had been completed, but New York City property records do not show any transfer of real property.
MDG’s Israeli bondholders approved the deal in May. Marx purchased the vacant lots for roughly $54 million off of his British Virgin-Islands registered holding company, MDG Real Estate Global Limited.
Nothing written here about affordable apartments. And such an impressive amount of money invested in this with millions and millions diverted from a island account. I'm not a federal agent or an economy scientist, but this all looks as dirty as what's behind that green mesh fence.
3 comments:
Israeli bondholders?? Something does sound fishy. So much money for just some property its ridiculous. I could only imagine what kind of rent will be charged just to make up for this 54 million dollars. It's not even that close to a train station either. I can only imagine who will move in.
I thought tall buildings in Flushing would interfere with planes landing at LGA?
I thought tall buildings in Flushing would interfere with planes landing at LGA?
In the old days yes. Now who cares? Is the pilots problem. The infrastructure will support 488 apts. x 6-10 people? hey looking at roughly 3000-5000 people there.
Offshore account with plenty of money? Who cares. Nothing to see here, move along comrade.
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