Silverstein Properties adding 6 more land parcels to its Astoria holdings

Sites are all located by Steinway Street and 35th Avenue

TRD 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
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar buying Ten-X for $190M

CoStar buying Ten-X for $190M
Small landlords, such as Jan Lee, a New York landlord who owns two buildings, say Wall Street players will take their place unless rent relief comes soon. (Credit: Twitter; background via BRYAN R. SMITH/AFP via Getty Images)

Small landlords call for rent relief package, fearing Wall Street takeover

Small landlords call for rent relief package, fearing Wall Street takeover
Cohen Brothers Realty president and CEO Charles Cohen and Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler

Hear from billionaire Charles Cohen on today’s TRD Talk

Hear from billionaire Charles Cohen on today’s TRD Talk
Northwind's Ran Eliasaf

Northwind Group launches $220M debt fund focused on NYC

Northwind Group launches $220M debt fund focused on NYC
(Credit: iStock, Pixabay)

NY bill would let businesses take temperatures, refuse entry

NY bill would let businesses take temperatures, refuse entry
arrow_forward_ios

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

Loading...