Fisher Bros. wants to bring a 240-unit mixed-use project to LIC

Development would span more than 250K sf with residential, commercial and hotel space

Oct.October 22, 2019 08:15 AM
42-50 24th Street and (from left) Arnold, Kenneth, Steven and Winston Fisher (Credit: Google Maps)

42-50 24th Street and (from left) Arnold, Kenneth, Steven and Winston Fisher (Credit: Google Maps)

Fisher Brothers is joining the Long Island City gold rush with plans to bring a 240-unit mixed-use project to the booming neighborhood.

The firm pre-filed plans with the Department of Buildings on Friday for a roughly 255,000-square-foot project at 42-50 24th Street in Queens. The project will be split between about 40,000 square feet of commercial space and 216,000 square feet of residential space, and it will stand 35 stories and 447 feet tall. The project will include hotel space as well.

Property Markets Group and the Hakim Organization teamed up to buy the Long Island City site in 2015 for $69 million. YIMBY published renderings last year of a 74-story tower project planned for the site, but those plans appear to have since changed.

Fisher Brothers declined to comment on the project, and representatives for PMG and Hakim did not respond to requests for comment. Details regarding the three firms’ relationship on the project were not immediately clear.

Long Island City has become one of the hottest real estate markets in New York in recent years, attracting some of the city’s most prominent developers. Tishman Speyer landed $1 billion in financing for its huge Jackson Park project in the neighborhood in late September, and the Durst Organization landed $360 million for its Queens Plaza Park project in the neighborhood late last year.

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