PMG files plans for 70-story Long Island City tower

Mixed-use building will hold more than 900 apartments

TRD New York /
Mar.March 11, 2015 11:30 AM

Kevin Maloney’s Property Markets Group is planning to build a 70-story mixed-use tower at the edge of Queensboro Plaza in Long Island City, according to an application filed with the city’s Department of Buildings today.

The 772-foot-tall building at 29-37 41st Avenue will span nearly 830,000 square feet and hold 930 apartments. There will also be nearly 15,000 square feet of commercial space.

The application shows six different retail units on the ground floor, as well as amenities including a pool and health club.

The architect of record is SLCE Architects. PMG could not be immediately reached for comment.

The company purchased the development site for $46.3 million last year from Queens-based developer Steven Cheung, who had paid just $8 million three years earlier.

Maloney’s company also recently purchased the Long Island City clock tower building next door, a point of contention with preservationists in the area who want to see the building landmarked.

The development site is just steps away from the Queensboro Plaza subway station, an area of Long Island City that is bustling with thousands of residential units in the pipeline.


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