New Empire Real Estate acquired a site in Woodside where it plans to build a 120-unit condominium, a rarity for the quiet Queens neighborhood.
The New York-based development firm, led by Bentley Zhao, paid $16.2 million for a 19,000-square-foot corner lot at 58-01 Queens Boulevard occupied by Walgreens. New Empire is planning to build a mix of one-, and two-bedroom units with an average price of around $750,000, according to Zhao. Construction is expected to start next year.
The new building’s amenities are to include a fitness center, personal storage and parking, a children’s playroom and indoor and outdoor residents’ lounges.
Zhao said the condo will target local buyers and renters in the area looking for an upsize. The 12-story tower will also offer unobstructed views of Manhattan, as many of the surrounding buildings are low-rise, according to Zhao.
Woodside is sandwiched between Sunnyside and Jackson Heights. It is not known for fancy residential developments, but New Empire is betting that as Long Island City and Astoria become more expensive, buyers will look deeper into Queens.
Surely it will be in context with all the other towers on the boulevard of zombie condo development
9 comments:
"The 12-story tower will also offer unobstructed views of Manhattan, as many of the surrounding buildings are low-rise, according to Zhao."
Before feasting on the wonders of the Manhattan skyline, residents can have a nice view of thousands and thousands of graves in Calvary Cemetery.
Build Baby Build !
Could this be Trump's and Putin's fault ?
It's all their fault, same with gas and food prices. I actually got see a beautiful STEAK at the local meat counter. The butcher finally told me to go away as I was Drooling on his glass case. Alas it sure looked good, I could almost taste it, but I had run out my food stamps. Now my next adventure is at the gas pumps. Wish me luck!!!!
The Flushing-Elmhurst East Asian community is marching down Queens Blvd. toward the East River.
Stupid more of these expensive crappy high rises not affordable housing !!! We don't need that !!!
The Chinafication of Queens, and NYC in general, continues apace. Of course, the same people whining about these developments are the ones standing at the borders with their "there are no illegal people!" signs and attempting to unravel any and all immigration restrictions (that job is pretty much done). Typical Progressives, they are too stupid to understand how A leads to B.
Anyway, Chinese are very good at starting up projects and then just letting them rot when the financing runs out. Furthermore, China has been putting the kibosh on overseas real estate investments, which has dried up a lot of the cash flow. Instead, they are directing the money into other things like agricultural products, manufacturing and farm land. Why we let the Chinese invest in America AT ALL is a mystery. Well no, it's not a mystery. Our entirely political class is corrupted by Chinese money. The End.
More on Chinese investment changes here: https://www.bisnow.com/national/news/capital-markets/chinas-overseas-real-estate-splurge-exploded-and-changed-the-countrys-economy-113547
Can I respond to NPC doofus, or does it have censorship rights over any comments that upset its snowflake nature?
ex-counsel person Jimmy Van Brammer got paid real well for this when he was in office for this
Is this bad news or is this good news? The Sheeple need direction from the right wing intelligentsia on whether they should be angry or over the moon with excitement at the thought of capitalism working so well for some people.
What would Tucker Putin think of this development?
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