Slate planning 170-unit rental in Queens

Developer to file plans for 230K sf property on site of Key Food in Forest Hills

New York /
Jun.June 29, 2017 06:00 PM

Slate Property Group is planning a 170-unit rental building on the site of a Key Food in Queens’ Forest Hills neighborhood, the firm told The Real Deal.

The Midtown East-based developer filed demolition permits this week for the one-story supermarket at 69-65 Yellowstone Boulevard, which will be replaced by an 11-story, 230,000-square-foot structure. The new building is expected to hold nearly 40,000 square feet of retail, across the ground floor and lower level.

Instead of buying the site outright, Slate formed a joint venture with the Gross and Grobman families, which own the Key Food building, in May, property records show. The financial terms of the deal were not disclosed. The families partnered with Slate last year on another project, an eight-story, 114-unit rental in Clinton Hill.

Slate TRData LogoTINY plans to file new-building plans in the next couple months and break ground by next summer. The building, to be designed by Aufgang Architects, is slated to be finished by 2020.

Since Martin Nussbaum and David Schwartz founded Slate in 2013, they have been involved in over $1.5 billion in property acquisitions and become one of the city’s most active residential developers, particularly on rental and condo projects in Brookyln. Projects include a 183-unit rental at One Flatbush in Downtown Brooklyn and a 125-unit rental in Ridgewood, Queens.

(To view Slate Property Group’s new construction projects, click here)


Related Articles

arrow_forward_ios
From left: Colony Hills’ Glenn Hanson and Rosewood’s Jonathan Brody with The Royce at Trumbull (Getty, Royce at Trumbull, LinkedIn, Rosewood)
Investors sell Trumbull apartments for 23% markup from last year
Investors sell Trumbull apartments for 23% markup from last year
From left: John Perez, Christian Amato and Nathalia Fernandez in front of Jacobi Hospital in the Bronx (Getty Images, JacobiPeds.org, ChristianAmato.com, John Perez)
Political candidates band together to oppose affordable housing proposals
Political candidates band together to oppose affordable housing proposals
Street Partnership's Dan Biederman with Herald Square
“We’re not alarmed:” Herald Square retail in reverse
“We’re not alarmed:” Herald Square retail in reverse
Mayor Eric Adams and 700 Eighth Avenue (Google Maps, LoopNet)
Midtown’s Row hotel to house up to 600 migrant families
Midtown’s Row hotel to house up to 600 migrant families
Hoboken City Council's Michael Russo with 308 Willow Avenue (Google Maps, Hoboken, Getty)
Hoboken hospital eyed for eminent domain
Hoboken hospital eyed for eminent domain
From left: Jean-Georges Vongerichten and L&L Holding Company chairman David Levinson in 425 Park Avenue (Getty Images, L&L Holding Company, 425ParkAve.com)
L&L’s 425 Park Ave cooking up Jean-Georges restaurant
L&L’s 425 Park Ave cooking up Jean-Georges restaurant
Arlington Village at 3100-3124 Atlantic Avenue in East New York, Brooklyn (Google Maps, Getty)
Developing in downtrodden areas gets dicey
Developing in downtrodden areas gets dicey
Larry Silverstein with 120 Broadway
Housing agency nabs two floors at Silverstein’s 120 Broadway
Housing agency nabs two floors at Silverstein’s 120 Broadway
arrow_forward_ios

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

Loading...