Cirrus and the gaming company bought the site at 93-30 165th Street in Jamaica, Queens, for $46.1 million, Crain’s reported. The joint venture plans to redevelop the parking garage as a housing development with up to 700 homes.
The 246,000-square-foot corner lot is permitted for more than 600,000 square feet of buildable space. The site is in the swath of Jamaica that was rezoned last year, a process expected to result in the creation of approximately 12,000 homes.