Strategic Capital plans Astoria resi building

Seven-story, 50-unit condo would replace commercial property

New York /
Sep.September 05, 2017 02:48 PM

Strategic Capital Metropolitan on Tuesday filed plans to develop a seven-story residential building in Astoria.

The Long Island-based developer plans to construct a 58,587-square-foot condo at 3-11 27th Avenue, according to a permit application filed with the city’s Department of Buildings. The application calls for 37,940 square feet of residential space, 7,991 square feet of retail and a 12,656-square-foot community facility, which will include space for both outpatient medical care and a day care facility.

Strategic is listed as the project’s manager. A representative from the company told The Real Deal that Strategic is in the process of purchasing the property from its current owner, an LLC run by the estate of Antonio Garcia, according to state business records.

Strategic plans to build 50 condo units, which will replace a one-story commercial building on the property, the representative said. Additional details of the deal were not immediately available.


Related Articles

arrow_forward_ios
The Economic Innovation Group identified 145 real estate investments in Opportunity Zones (iStock)

Real estate deals dominate Opportunity Zones. Is that bad?

Real estate deals dominate Opportunity Zones. Is that bad?
(iStock)

Mortgage requests surge ahead of Thanksgiving

Mortgage requests surge ahead of Thanksgiving
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Photos via Foster + Partners and Getty)

Vanke seeks to remove RFR from Midtown condo project

Vanke seeks to remove RFR from Midtown condo project
Hippo founders Assaf Wand and Eyal Navon (LinkedIn)

Home insurance startup Hippo raises $350M

Home insurance startup Hippo raises $350M
Prices increased 6.6 percent year-over-year in September (iStock)

US home prices surged 6.6% in September

US home prices surged 6.6% in September
From left: Edison Properties CEO Robert Selsam, Ironstate Development's Michael Barry, Stellar Management founder Larry Gluck (LinkedIn; Gluck Family Foundation)

These developers could benefit the most from Soho’s rezoning

These developers could benefit the most from Soho’s rezoning
176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

Brooklyn luxury market surges with nearly $73M in contracts

Brooklyn luxury market surges with nearly $73M in contracts
1045 Madison Avenue and 300 Central Park West (The Benson; Wikipedia Commons)

Manhattan luxury market shows signs of progress with 25 deals

Manhattan luxury market shows signs of progress with 25 deals
arrow_forward_ios

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

Loading...