Weeks after announcing the sale of a 2.4-acre eastern Queens development site to… himself, MDG Real Estate’s David Marx has filed plans for what would be the borough’s tallest building outside of Long Island City.
Plans prefiled with the Department of Buildings on Tuesday call for a 400-foot-tall structure consisting of “two residential towers, 37 stories each” with four floors of underground parking. The 717,000-square-foot complex with an address of 71-12 Park Avenue will include 488 apartments.
Marx did not respond to a request for comment.
MDG’s Israeli bondholders voted in May to approve an “exceptional” transaction in which the firm’s British Virgin Islands-registered bond-issuing holding company would sell two parcels of vacant land to Marx himself.
Series B bondholders approved the deal with 79.51 percent of votes cast in favor, while Series C bondholders approved it with 96.12 percent of the vote, according to Tel Aviv Stock Exchange filings.
On Aug. 4, MDG announced that the sale had been completed, but New York City property records do not yet show any transfer of real property.
The new plans represent a stark contrast to MDG’s disclosures from earlier this year, according to which the “owner and the board of directors have no desire to develop said real estate at this time” due to a lack of “the economic capacity to develop real estate of this order of magnitude.”
I used to live near there a few years ago…and Park Avenue is very hidden. Most people in the neighborhood don’t realize that street exists lol. I’d say this site should be addressed on Parsons Blvd.
Not really. Journal Square has a PATH station. This location in Queens doesn’t really have any transit except a few local buses that get stuck in traffic.
Also, why are there two different designs? They haven’t picked a final design yet?
I think the one on the board is the up to date one. Also i think he’s referring to two massive buildings being popped in the middle of a low density area, similarly to how JSQ was plopped up a few years back
Love to see density coming to new parts of the city but this is definitely a head scratcher in many ways. Why is Pomonok getting luxury skyscrapers before Flushing or Jamaica, where there are still many surface lots ripe for development? There is comparatively little commercial activity nearby, not to mention the transit issues.
Situated conveniently near two major New York City airports, there is convenient access to public transportation that can take residents to Manhattan within 30 minutes.
Good luck getting to any part of Manhattan in less than an hour from here by bus. Considering they are building over 600 parking spaces, this is quite the transit unoriented development.
623 parking spaces? Yikes. Vast parts of Queens are a transit desert so I’m not really mad about it, but it does suck. Where do we think most people in this neighborhood work? Flushing and Jamaica? Do most trek into Manhattan with cars?
I’d love to continue to decentralize Manhattan by building up CBDs in the other boroughs but this one in particular is located between two of them with no easy rail transit access to either.
That said, we need to continue building our housing stock and density where we can.
journal squared in the middle of queens
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