Silverstein Properties adding 6 more land parcels to its Astoria holdings

Sites are all located by Steinway Street and 35th Avenue

National /
Feb.February 28, 2019 11:01 AM

35-10 43rd Street and 35-18 43rd Street in Astoria with Larry Silverstein (Credit: Google Maps and YMWREA)

Silverstein Properties is buying six more land parcels in Astoria.

The parcels are located on three blocks in the southwestern part of the neighborhood by Steinway Street and 35th Avenue, according to PincusCo. None of the contracts included a purchase price or closing date.

The properties are located at 35-42 41st Street, 35-33 41st Street, 35-45 41st Street, 42-11 Northern Boulevard, 35-10 43rd Street and 35-18 43rd Street.

Silverstein now controls 13 parcels across three blocks in the neighborhood spanning 182,890 square feet overall. However, all but one of the properties are currently zoned as M1-1, which only permits low-rise commercial uses.

The firm’s new purchases could put pressure on the city to rezone the blocks and allow for residential development, but Silverstein’s plans for the sites are still unclear.

Over the summer, Silverstein acquired the ground lease for a seven-parcel development site in Astoria in its first major push into the outer boroughs. The site spans two blocks between 42nd Street and Steinway Street, and the properties span 390,906 square feet with more than 1.5 million square feet of commercial development rights. [PincusCo] — Eddie Small


Related Articles

arrow_forward_ios
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Governor Kathy Hochul, casino chips, film camera
How Hochul’s film tax credit, casino plan affect real estate
How Hochul’s film tax credit, casino plan affect real estate
Gov. Kathy Hochul
Hochul pitches conversion tax break. Will developers bite?
Hochul pitches conversion tax break. Will developers bite?
A photo illustration of Mohegan Sun's Ray Pineault and Soloviev Group's Stefan Soloviev (Getty, Soloviev Group, Mohegan Gaming & Entertainment)
Soloviev partners with Mohegan on casino bid
Soloviev partners with Mohegan on casino bid
Seth Weissman, John Catsimatidis, Mayor Eric Adams
They said what now? Real estate quotes of the week
They said what now? Real estate quotes of the week
From left: Robert Reffkin and Rupert Murdoch (Getty, Compass)
ChatGPT didn’t write this week’s real estate news roundup, we promise
ChatGPT didn’t write this week’s real estate news roundup, we promise
Seth Weissman, Financing
Urban Standard wants to rescue property owners from high interest rates
Urban Standard wants to rescue property owners from high interest rates
From left: Michael Dell with 25 Water Street, Alex Sapir with 261 Madison Avenue and Marc Holiday with One Madison Avenue (Getty, Edge Funds, Sapir Organization, SL Green)
Office properties (yes, office!) got Manhattan’s biggest December loans
Office properties (yes, office!) got Manhattan’s biggest December loans
arrow_forward_ios

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

Loading...