PMG files plans for 70-story Long Island City tower

Mixed-use building will hold more than 900 apartments

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.

 
 

Related Articles

arrow_forward_ios
TF Cornerstone's Fred Elghanayan, 2-20 and 2-21 Malt Drive (Getty, SLCE Architects)
TF Cornerstone lands $725M for next Long Island City megaproject
TF Cornerstone lands $725M for next Long Island City megaproject
A photo illustration of Savanna co-chairman and president Christopher Schlank and One Court Square in Long Island City, Queens (Getty, Savanna, LoopNet)
Savanna’s LIC tower signs health care giant
Savanna’s LIC tower signs health care giant
SB Development’s Joseph Stern and Northwind’s Ran Eliasaf with rendering of Nova (LinkedIn, NOVA)
SB Development, Hazelton Capital score $62M loan for LIC condo tower
SB Development, Hazelton Capital score $62M loan for LIC condo tower
ZD Jasper Realty's Jasper Wu with 23-17 41st Avenue (ZD Jasper, Google Maps, Getty)
GTJ sells East New York warehouse; Kartsonis, Wu cut deals
GTJ sells East New York warehouse; Kartsonis, Wu cut deals
Chris Jiashu Xu and the Skyline Tower (Skyline Tower)
Some Skyline Tower condo owners say they were deceived
Some Skyline Tower condo owners say they were deceived
From left: Heatherwood Communities' Douglas Patrick and Attorney General of New York Letitia James along with 568 Union in Williamsburg (Heatherwood Communities, Getty, Twitter/CertilmanBalin)
Luxury developer to cough up $3M for underpaying workers
Luxury developer to cough up $3M for underpaying workers
One Court Square in Long Island City QNS and Savanna managing director Brian Reiver (Wikipedia, Loopnet, Getty))
Savanna’s LIC office tower nabs big tenant
Savanna’s LIC office tower nabs big tenant
A photo illustration of Tishman Speyer CEO Rob Speyer and 28-10 Jackson Avenue in Long Island City (Getty Images, Tishman Speyer, Google Maps)
LIC tenant claims Tishman Speyer violated rent stabilization
LIC tenant claims Tishman Speyer violated rent stabilization
arrow_forward_ios

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

Loading...