Read original...
Plans for one of the largest private gated communities in Queens have been temporarily halted as the owner searches for a buyer for the 7.5-acre Howard Beach property.
After his partner died late last year, the owner, a local investor, realized he needed help completing the project. Looking for some type of joint venture or to sell the $24 million development site, which sits on Linden Boulevard, between Sapphire Street and South Conduit Avenue, he hired Massey Knakal Realty Services two weeks ago.
Since then, the company has put together marketing materials and reached out to large developers in the tri-state area, and has so far received a “great” response, according to Stephen Preuss, a Massey Knakal broker and the exclusive agent for this project. In this short period of time, the company has already shown the site about half a dozen times.
The reason people are interested in a project such as this is because demand for housing is high. After seeing the success of a neighboring Howard Beach development — Magnolia Court — that sold out almost immediately, it was evident that there is a need for such projects in the community, Preuss said.
“Even with the slight downturn in the residential market, in this area there’s a great need for gated communities,” he added, “especially one of this caliber and this type of construction — mid- to high-end construction.”
The two-phase project consists of three different floor plans for 237 apartment units. The first phase, which consists of 111 units, is near completion, with 60 percent of the foundations already in. So far, piles, foundation, underground plumbing and a basement floor for each unit have been constructed.
Each of the three apartment models contains three bedrooms, but the first model, an 1,800-square-foot apartment, also has two-and-a-half bathrooms and a recreation room. While the second and third models, at 1,500 and 1,050 square feet, respectively, both contain additional storage space, the larger apartment has two bathrooms and the smaller space has one.
The streets within the large property, which sits directly across from the Lindenwood Diner, have been demapped and deeded to the current owner, who started building in the commercial zone about 18 months ago.
Community Board 10 Chairwoman, Betty Braton, said the building is as-of-right, because the zoning code allows residential construction in commercial zones. The only concern she’s heard from community members regarding the construction is that it could exacerbate poor traffic conditions on the heavily-used intersections surrounding it.
Additionally, she added, because of its physical location, “access and egress ... is not in keeping.” Although she did not specify reasons, Braton said a development previously planned for that location, the “Lindenwood Commons” was never built.
For now, Braton and the rest of the community will wait and watch for new developments with the project.
5 years ago
