RockFarmer plans nearly 100K sf condo in Astoria

Queens multifamily player would build 43 apartments on site of strip mall

TRD New York /
Mar.March 01, 2017 01:30 PM

RockFarmer Properties filed plans for a 94,000-square-foot luxury condominium building in Astoria, making it one of the Queens landlord’s few condo projects.

The firm, led by John Petras and George Michelis, is planning a mixed-use property at 21-21 31st Street with 43 apartments. DXA Studio TRData LogoTINY would serve as the architect of record and Halstead Property Development Marketing would handle condo sales. A spokesperson for the architect said RockFarmer recently submitted the permit application, though it has not yet appeared on the Department of Buildings’ website.

RockFarmer said it expects to break ground on the site in mid-2018 and wrap construction by summer 2020.

The firm, which owns about 30 buildings in the city, paid $12.1 million last year for a strip mall on the site, home to multiple discount stores, a restaurant and a laundromat.

Astoria has seen a flurry of recent rental development, but only a handful of new condos. MCV Developers and World Holdings, for example, opened a five-story, 11-unit condo at 26-14 28th Street late last year. In terms of rental megadevelopments, the Durst Organization is building the 2,000-unit Halletts Cove and Alma Realty is behind the 1,763-unit Astoria Cove. Both of those rental projects have been hit with delays in the absence of the 421a tax abatement.


Related Articles

arrow_forward_ios
Joe Moinian and 123 Linden Blvd. (Moinian Group)

These were the top outer borough loans in July

These were the top outer borough loans in July
Clipper Equity's David Bistricer (REIT)

David Bistricer’s Clipper Realty reports record Q2 profit

David Bistricer’s Clipper Realty reports record Q2 profit
Vornado CEO Steven Roth and a rendering of the Farley Post Office building (Getty, iStock, SOM)

Vornado will install facial recognition tech in all its buildings

Vornado will install facial recognition tech in all its buildings
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
arrow_forward_ios

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

Loading...