Developer files plans for 47 condos in Woodside

Proposed building on 56th Street would span 40K sf

TRD New York /
Feb.February 17, 2017 06:17 PM

A Queens-based developer is planning to construct a 64,000-square-foot condominium building on 56th Street in Queens, according to a permit application filed with the city’s Department of Buildings Friday.

Developer Cheung Kiu’s four-story, 40,000-square-foot building at 31-19 56th Street would feature 47 apartments. There will also be 18,700 square feet of commercial space and 5,660 square feet of community space, the filing shows. The architect of record is Angelo Ng & Anthony Ng Architects Studio.

Queens has been a hive of activity lately, with many investors betting big on the borough. Last year, there were 42 deals over $20 million in the borough, compared to five in 2011, according to Ariel Property Advisors.  The biggest deal was Savanna’s $257.5 million purchase of the Falchi Building, a 658,000-square-foot office building in Long Island City.

In the fourth quarter of 2016, prices in Queens jumped and inventory fell. The median sales price rose 6 percent year-over-year to $498,000, according to a recent report from Douglas Elliman. The average sales price, meanwhile, hit a record $573,455, a 9.8 percent increase from 2015.

Last month, a one-bedroom condo at the Woodside Court Condominiums, a new development at 61-09 39th Avenue, sold for $515,000, according to StreetEasy.

Kiu declined to comment. Representatives from the architect were not immediately available for comment.


Related Articles

arrow_forward_ios
82-10 Baxter Avenue and 3111 Heath Avenue (Google Maps)

Queens retail sale tops mid-market deals of the week

Queens retail sale tops mid-market deals of the week
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
Newmark’s Brian Waterman with 7 Hanover Square (Google Maps, Twitter)

Newmark nabs REBNY prize for deal with NYC Health + Hospitals

Newmark nabs REBNY prize for deal with NYC Health + Hospitals
The legislation from a City Council member introduced a bill to temporarily repeal the commercial rent tax for businesses during the Covid-19 state of emergency. (Getty, iStock)

Commercial rent tax cut introduced in City Council

Commercial rent tax cut introduced in City Council
Michael Rudder, James Nelson, 141 Wooster Street and 633 Third Avenue (Google Maps)

The Outlook: Industry experts break down Manhattan’s office condo market

The Outlook: Industry experts break down Manhattan’s office condo market
Peter Nicoletti and Colliers' David Amsterdam

Colliers taps JLL’s Peter Nicoletti to lead capital markets

Colliers taps JLL’s Peter Nicoletti to lead capital markets
City Council member Keith Powers (Getty)

Pol, biz groups: Suspend rent tax, extend outdoor dining

Pol, biz groups: Suspend rent tax, extend outdoor dining
arrow_forward_ios

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

Loading...