Young’uns flock to Queens’ Rego Park

Development activity is up and QueensWay park proposal is in the wings

TRD New York /
Feb.February 06, 2015 05:45 PM

Young professionals searching for more bang for their buck are beginning to land in Queens’ Rego Park neighborhood, where developers have been keeping busy on a variety of new buildings.

Vornado Realty Trust is leading the pack with the Alexander at Rego Center, a 312-unit Building Atop The Rego Park Ii Shopping Plaza that will begin leasing in April. A nearby 38-unit building called the Rego Modern developed by Ramin Shirian of Lions Group II is 85 percent leased, the Wall Street Journal reported.

Several medium-sized residential buildings are in the pipeline along the southern side of Queens Boulevard, including  a six-story building with 45 units at 65-70 Austin Street, a seven-story building with 59 units at 65-38 Austin Street and an eight-story building at 64-24 Booth Street.

“It’s a great area that’s coming up,” Aaron Einstein — president of Woodmere Development, the firm behind 65-70 Austin Street — told the newspaper. “There’s lots of different ethnic cultures in Rego Park, and I love that there’s a new bunch of young, nice people moving in.”

The proposal for a High Line-esque QueensWay park, to be built on a 3.5-mile stretch of abandoned railway track between Rego Park and Ozone Park might increase the area’s appeal by adding green space.

The Trust for Public Land, a nonprofit that is raising funds for QueensWay, plans to send out a request for proposals from landscape design firms in the next two months. [WSJ] — Tess Hofmann

Related Articles

Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

Free and clear: Vornado pays off debt at 220 CPS

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

Facebook CEO Mark Zuckerberg and Apple CEO Tim Cook with a rendering of the Farley development (Credit: Getty Images, SOM iStock)

Facebook facing off with Apple over space in Vornado’s Farley Building conversion

220 Central Park South and Michael Cantanucci (Credit: Getty Images and Google Maps)

Car dealer drops $38M for condo at 220 CPS

Facebook CEO Mark Zuckerberg and a rendering of the Farley Post Office building redevelopment (Credit: Getty Images, SOM)

Facebook in talks for massive lease at Vornado’s Farley Building

Vornado president Michael Franco and 512 West 22nd Street (Credit: VNO)

WarnerMedia to anchor Vornado’s West Chelsea spec office

From left: 220 Park Avenue South, 15 Central Park West, 520 Park Avenue, 35 Hudson Yards, Sting, Juan Beckmann Vidal, Daniel Och, Bob Diamond, and Stephen Ross (Credit: Getty Images, Wikipedia, StreeEasy, and Google Maps)

Serial buyers trade “old” condos for new on Billionaires’ Row