Three Gowanus projects lead spate of new development filings

Queens also getting apartment towers as builders act on 421a deadline, rezoning

New York /
Dec.December 14, 2021 03:15 PM


Developers have filed plans to build three more largely residential buildings in recently rezoned Gowanus.

Rabsky Group affiliate Galaxy Developers and Monadnock Development each submitted plans for a 22-story building with approximately 300 residential units at 395 Carroll Street and 155 3rd Street, respectively. Avery Hall Investments put in paperwork to build nearly 200 units at 653 Union Street.

A steady flow of Gowanus developments have been filed since October, when it became clear the rezoning would pass.

But that is not the only reason that project filings are piling up at the Department of Buildings. The scheduled expiration of 421a, a generous property tax break for residential construction, in June is prompting developers to get their foundations in the ground by then.

Largavista Companies filed plans to build a 46-story tower with 518 residential units at 30-05 Queens Boulevard in Long Island City. The building will span about 474,000 square feet.

Howard Hughes filed its application to build at 250 Water Street after slogging its way through the Landmarks Preservation Commission and City Council as opponents complained that the project is too tall.

The building clocks in at 26 stories with 324 residential units and 160,000 square feet of commercial space. The site, which abuts the high-rent Financial District, has been a parking lot for decades, despite several attempts to develop it.

Also in Queens, Albert Shirian’s Lions Group filed plans to build a 49-story tower with 363 residential units at 26-32 Jackson Avenue. The company secured construction financing for an adjacent residential project at 27-01 Jackson Avenue with 164 units across 27 stories, the Commercial Observer reported.





    Related Articles

    arrow_forward_ios
    Gary Barnett
    Gary Barnett has something to say
    Gary Barnett has something to say
    Industrious CEO Jamie Hodari and CBRE chief financial and investment officer Emma Giamartino (LinkedIn, CBRE)
    CBRE doubles down on flex-office provider Industrious
    CBRE doubles down on flex-office provider Industrious
    New York skyline
    Rising interest rates will dampen city’s investment sales market this year
    Rising interest rates will dampen city’s investment sales market this year
    Mayor Eric Adams (Photos by Paul Dilakian)
    Eric Adams critiques DOB, wants to roll out “red carpet” for development
    Eric Adams critiques DOB, wants to roll out “red carpet” for development
    Southampton Village mayor Jesse Warren (Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal)
    Southampton Village allows owners to collect summer’s rent upfront
    Southampton Village allows owners to collect summer’s rent upfront
    G4 Capital's Robyn Sorid and a rendering of 313-315 Bond Street (G4 Capital, LinkedIn/Robyn Sorid)
    Rabsky Group scores $92M loan for big Gowanus project
    Rabsky Group scores $92M loan for big Gowanus project
    135 West 50th Street in Manhattan in NYC with George Comfort & Sons CEO Peter Duncan (Google Maps, George Comfort & Sons Inc.)
    George Comfort & Sons inks 62K sf tenant in Midtown
    George Comfort & Sons inks 62K sf tenant in Midtown
    Schenectady City Council president Marion Porterfield (Facebook, iStock)
    Destructive tenants driving upstate landlords to despair
    Destructive tenants driving upstate landlords to despair
    arrow_forward_ios

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

    Loading...