Developer planning 51-unit building for Downtown Jamaica

Building at 88-56 162nd Street would stand 7 stories tall

TRD New York /
Dec.December 27, 2017 02:05 PM

88-56 162nd Street (Credit: Google Maps)

A 51-unit residential development is on its way to Downtown Jamaica.

The project comes from developer Jianfei Chen, who submitted plans for the seven-story building at 88-56 162nd Street to the city on Wednesday. Chen purchased the property in July for $4.3 million, and Fang Architect will design the project.

The building will span 34,580 square feet and stand 70 feet tall. Chen did not respond to a request for comment about whether the building would be affordable or market-rate.

Developer Chris Jiashu Xu recently sold his Archer Towers development site in Jamaica to BRP Companies for about $55 million, and developer Chung Lam is planning an 80-unit, nine-story residential building in the neighborhood at 148-18 Hillside Avenue.

Related Articles

TF Cornerstone president Frederick Elghanayan and 595 Dean Street (Credit: CityRealty, Google Maps)

TF Cornerstone’s Prospect Heights two-tower project unveiled

California passes landmark rent control law

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

The construction giants catching a Windy City windfall

David Marx of MDG Real Estate and the site at 71-05 Parsons Boulevard in Queens (Credit: Google Images and iStock)

Here’s a weird one: David Marx plans towers at Queens site he bought from his own company

Resi scorecard: Brooklyn and Queens condo inventory through June 2019

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

Jeff Bezos and Amazon HQ in Silicon Valley (Credit: Getty Images)

Why Amazon HQ2 is already rattling the local housing market