The Real Deal New York

Satellite university campus coming to LIC?

April 04, 2011 09:29AM

A Long Island City industrial property that was once slated to become a 635-room graduate student dorm may ultimately become a satellite campus for a university instead. According to the Daily News, Alma Realty, which purchased the vacant, 30-30 Northern Boulevard building from Edward J. Minskoff Equities for $21.5 million in January and already has approval from Community Board 1 for a 19-story dormitory there, has decided to spend its money developing residential buildings in Manhattan instead. The company is now in talks with an undisclosed university, which wants to create a new, 400,000-square-foot campus on the site, including classroom space and an auditorium. Alma Realty said no official plans have been made yet. [NYDN]