NEW YORK | 71-12 Park Avenue (not that one) | 575 FT + 400 FT | 50 + 42 FLOORS

David Marx plans towers at Queens site he bought from his own company

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.”


Is that the correct address? The article says Parsons Boulevard.

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I originally had it, but I presume its the marketing name. Just makes it easier to identify if future information arises on this development.


I actually used to live 2 blocks away from this site, it’s huge and has been empty for quite some time.


I’m surprised the low unit count. Granted almost 500 units is nice, but I’d hope for a 1000 units. Yeah that parcel is massive.



what’s with the Park Avenue address?

is this to fool some unsuspecting foreigner into thinking that he’s buying a unit in Manhattan?

if so, shame on the developer!


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.