Marcal Group gets final AG approval for Far Rockaway condo project

Development at 147 Beach 116th Street will contain 86 units averaging $600 psf

New York /
Aug.August 23, 2018 01:00 PM

147 Beach 116th Street (Credit: The Marcal Group)

A Far Rockaway condominium project from the Marcal Group has received final approval from the state to move forward, according to company officials.

The Marcal Group’s One Sixteen, which will be located at 147 Beach 116th Street, received final approval from the New York State Attorney General’s Office today, Marcal Group CEO Mark Caller said. The project will contain 86 units across eight stories, along with eight duplex townhouses. Construction crews broke ground on the project early in 2018 and are now approaching the building’s fourth floor.

The building is located less than a block from the ocean, and most residences will have views of the ocean and the bay. Amenities will include a roof deck, a fitness center, bike storage and on-site parking.

Units will go for an average of about $600 per square foot, Caller said.

The New York Attorney General’s office did not immediately respond to a request for comment.

The City Council unanimously passed a rezoning of Far Rockaway in September,  and several developers have recently taken interest in the neighborhood. Related Companies is planning a 145-unit project in the area near its Gateway Apartments complex,  and MDG Design + Construction has landed a 99-year lease for NYCHA’s Ocean Bay apartments. It is putting $560 million into renovating the complex.

Phipps Houses is also planning a mixed-income housing project called Far Rockaway Village that will replace the Far Rockaway Shopping Center, which has long been considered a neighborhood eyesore.


Related Articles

arrow_forward_ios
D&F Development Group’s Peter Florey and the development site at the northwest corner of Pulaski and Elwood Roads in East Northport (D&F Development Group, Google Maps)
Four decades in making, East Northport project clears key hurdle
Four decades in making, East Northport project clears key hurdle
From left: Century Development's Group’s George Xu and City/Rybak Development’s Sergey Rybak with 78-29 Austin St./11-36 45 Road
Rybak, Century file to build Queens multifamily projects
Rybak, Century file to build Queens multifamily projects
ZappiCo's Jim Zappi and Pocantico Lake (ZappiCo Real Estate Development, Google Maps)
Developer wants 29 waterfront homes; Nimbys want none
Developer wants 29 waterfront homes; Nimbys want none
Miki Naftali with 215 West 84th Street (Getty, Corcoran)
Naftali takes hit in battle with UWS holdout
Naftali takes hit in battle with UWS holdout
CW Realty's Cheskie Weisz and an aerial of the development site at 296 4th Avenue, 288 4th Avenue, 21 Denton Place (CW Realty, Google Maps)
Cheskie Weisz plans 200 Gowanus apartments
Cheskie Weisz plans 200 Gowanus apartments
Boston Properties CEO Owen Thomas and 343 Madison Avenue (Boston Properties, Getty Images)
Boston Properties plans 1M sf tower at ex-MTA HQ
Boston Properties plans 1M sf tower at ex-MTA HQ
1591 Alps Road in Wayne, NJ and March Associates Construction president Louis March (Google Maps, Getty, March Associates)
From funeral home to strip mall
From funeral home to strip mall
 SL Green’s Marc Holliday with 450 Park Avenue  (Taconic Partners, SL Green)
TRD Pro: Here are NYC’s biggest offices sales of Q2
TRD Pro: Here are NYC’s biggest offices sales of Q2
arrow_forward_ios

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

Loading...