SkyView Parc nears long-awaited sellout

Flushing project suffered following the 2008 financial crisis but has since rebounded

New York /
Oct.October 12, 2017 10:50 AM

After a decade of starts and stops, Flushing’s most prominent megaproject is finally nearing a sellout.

SkyView Parc, a residential and retail complex, first put its apartments on the market 10 years ago and has now almost reached a sellout, according to the Wall Street Journal.

The project, which includes about 1,200 apartments, a six-acre private park and an 800,000-square-foot shopping center, initially sold well but suffered in the wake of the 2008 financial crisis. Onex Real Estate Partners then relaunched sales in 2011, and the first three buildings sold out in 2013. The last three buildings have sold quickly since they hit the market at the beginning of 2015, the Journal reported.

Modern Spaces president Eric Benaim told the Journal that 600 of the 743 condos in the last three buildings –81 percent — sold at increasing prices in 30 months, and the remaining units will likely sell by year’s end.

“We are bringing up the market in general,” he said. [WSJ]Eddie Small


Related Articles

arrow_forward_ios
Construction labor management platform Bridgit raises $24M
Construction labor management platform Bridgit raises $24M
Construction labor management platform Bridgit raises $24M
Lennar, Icon teaming up on 3D-printed development
Lennar, Icon teaming up on 3D-printed development
Lennar, Icon teaming up on 3D-printed development
Harlem River Houses approved for $130M facelift
Harlem River Houses approved for $130M facelift
Harlem River Houses approved for $130M facelift
Extell Development chairman Gary Barnett and the empty lot between 79th and 80th on First Avenue (Google Maps)
Extell building 30-story medical tower on UES
Extell building 30-story medical tower on UES
Millennium Partners' Philip Aarons and a rendering of the Hollywood Center project (Getty, Rendering via Handel Architects)
Shaken, not stirred: Inside Millennium’s battles at Hollywood Center
Shaken, not stirred: Inside Millennium’s battles at Hollywood Center
BRP’s controversial Bed-Stuy project wins approval
BRP’s controversial Bed-Stuy project wins approval
BRP’s controversial Bed-Stuy project wins approval
From left: Francisco Llado, Gil Dezer, Amir Korangy, Paulo Bacchi, Edgardo Defortuna, Jay Parker, Daniel de la Vega (Artefacto, Getty)
Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily
Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily
Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily
arrow_forward_ios

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

Loading...