The Real Deal New York

Flushing tower sees $85M in contracts in first weekend of sales

The quick condo deals follow years of delays at Sky View Parc complex

November 25, 2015 01:10PM

Rendering of one tower at the Grand at Sky View Parc (inset: Michael Dana)

Rendering of one tower at the Grand at Sky View Parc (inset: Michael Dana)

Things are once again looking up for a massive Flushing development with a troubled past.

In the first weekend of sales in the development’s second of three towers, Onex Real Estate Partners’ the Grand at Sky View Parc saw $85 million in contracts for one-, two- and three-bedroom units, Curbed reported. The quick sales are a boon for the Sky View Parc development as a whole, which initially experienced a series of setbacks, including a lawsuit and dragging sales. The project recovered, however, and went on to sell out the three condo buildings that made up the first phase of the 14-acre condo and retail complex.

The Grand, which will include three residential towers, is the second phase of construction at Sky View Parc. The first phase included a shopping mall and three residential buildings.

Sales launched this past weekend in the second tower, referred to as Grand Two. The building has 258 units, which range in price from $493,000 to $2 million. Grand One, which is still under construction along with Grand Two, kickstarted sales in February and most of its units have already sold. It’s unclear when construction will start on the third tower.

Blackstone Group bought the retail mall and parking garage at the complex for $400 million. [Curbed] — Kathryn Brenzel