The Real Deal New York

Kenny Liu seeking $99M sellout at Flushing condo

Project at 142-38 37th Ave would be the 7th most expensive plan in Queens since 2010

March 30, 2016 01:37PM
By Kathryn Brenzel

East West Tower in Flushing (credit: Architects Studio)

East West Tower in Flushing (credit: Architects Studio)

The developers of a mixed-use building in Flushing are aiming for a total sellout of $98.5 million, a figure that would make the Kenny Liu-led project one of the 10 priciest in Queens since 2010.

Liu, an active developer in Queens, and three investment partners submitted plans for 142-38 37th Avenue, a 13-story building being built at the corner of Bowne Street and 37th Avenue, according to documents filed with the New York State Attorney General’s Office last week.

The building, dubbed the East West Tower, is expected to have 88 residential units and 18 commercial units, as well as 15 parking units that factor into the total projected sellout. According to a 2014 application permit filed with the Department of Buildings, the commercial units will be used as medical facilities.

If the the sellout plan is accepted, the building would be the seventh most expensive new project in the borough — by anticipated sellout — since 2010, according to an analysis by The Real Deal. The priciest new project in the past six years was Flushing Commons, with a projected sellout of $386 million.

When reached by phone on Wednesday, Liu said that sales would likely start by the end of this year. He said the prices for the units have not yet been determined. The building is still under construction.

Liu is keeping busy in the area with two other residential projects. He’s planning to build a 50-unit condominium building in Rego Park and built the Shangri-La Tower, a 23-unit condo in downtown Flushing. The architect of record for all three of Liu’s projects is Maspeth-based Architects Studio.