Rockrose demolishing seven warehouses to make way for Queens’ tallest residential tower

TRD New York /
May.May 21, 2013 12:00 PM

To make room for construction of the tallest residential building in Queens, Rockrose Development is in the midst of tearing down seven warehouses in Long Island City, the New York Observer reported.

The 50-story building in the Court Square area would also set a record for holding 975 units, more than any other building in the borough. (Sky View Parc has 448 units.)

In the next few weeks, the developer will launch bidding to hire a subcontractor. Construction is slated to begin later this year, with completion scheduled for 2016, the Observer said.

It will cost about $400 million in full for the project. The 500-foot-tall, 907,000-square-foot skyscraper will sit on a 47,800-square-foot lot at 43-25 Hunter Street, the newspaper said.

Justin Elghanayan of Rockrose sees it as a companion to the 50-story Citigroup tower at 1 Court Square.

“I always looked at the Citigroup tower and it looked so lonely,” Elghanayan told the Observer. “I said, ‘Citigroup needs a girlfriend.’ So in my mind, this building is its girlfriend.”

The warehouses being destroyed are located at 25-25 44th Drive; 43-25, 43-15, 43-11 and 43-09 on Hunter Street; and 27-02 and 27-06 On 43rd Avenue, the newspaper said. [NYO]Mark Maurer

 

Related Articles

arrow_forward_ios
Clockwise from top left: 180 Ashland Place. 180 East 125th Street, 35 Commercial Street and 2440 Fulton Street (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
Rockrose Development President Justin Elghanayan and 98 DeKalb Avenue in Brooklyn

Rockrose’s new Brooklyn skyscraper will rise 47 stories

Rockrose’s new Brooklyn skyscraper will rise 47 stories
Rockrose Development Justin Elghanayan and 98 DeKalb Avenue in Brooklyn (Credit: Google Maps)

Rockrose closes $81M all-cash Brooklyn buy

Rockrose closes $81M all-cash Brooklyn buy
From left: Eagle Lofts at 43-22 Queens Street in Long Island City, 292 North 8th Street in Williamsburg and The Landing at 15 Bridge Park Drive in Brooklyn Heights (Credit: Rockrose Development, Stonehill & Taylor Architects and StreetEasy)

Rockrose’s $350M haul tops March list of outer-borough loans

Rockrose’s $350M haul tops March list of outer-borough loans
27-34 Jackson Avenue and Rockrose's Justin Elghanayan

Rockrose plans a $100M resi tower in LIC

Rockrose plans a $100M resi tower in LIC
Renderings of 555 West 38th Street and Rockrose Development's Justin Elghanayan (Credit: Rendering by Pelli Clarke Pelli)

Rockrose lands $255M in financing for Hudson Yards project

Rockrose lands $255M in financing for Hudson Yards project
The development site at 98 Dekalb Avenue and Rockrose Development's Justin and Henry Elghanayan (Credit: Google Maps)

Rockrose is moving into Brooklyn

Rockrose is moving into Brooklyn
Rockrose paves the way for Hudson Yards rental tower with $20M air rights deal

Rockrose paves the way for Hudson Yards rental tower with $20M air rights deal

Rockrose paves the way for Hudson Yards rental tower with $20M air rights deal
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...