Continuing the discussion from NEW YORK | LIC Queens Rezoning - Queens Plaza Subdistrict:
BY: NIKOLAI FEDAK ON SEPTEMBER 30TH 2014 AT 6:30 AM
Yet another tower will soon join the Long Island City boom: a new building application has been filed for a 26-story, 145,000-square foot building coming to 27-21 44th Drive, in Court Square, with Silvercup Properties as the developer.
Silvercup Properties is the development arm of Silvercup Studios, the largest film and television production studio in New York City. The group’s better known development proposal is called “Silvercup West,” a megaproject unveiled years ago, before the downturn, that sought to bring eight sound stages, an office tower, 1,000 apartments and other amenities to a site south of the Queensboro Bridge. The Richard Rogers-designed complex was mothballed during the recession, but resurfaced earlier this month when the developer filed special permit renewals for the project.
Meanwhile, back on 44th Drive, between Jackson Avenue and Sunnyside Yard, GF55 Partners is listed as the architect on the permit. The building will have a 6,780-square foot commercial component on the ground floor, and 105,562 square feet of net residential space will occupy the rest of the structure, divided among 115 apartments. That translates into an average unit size of just under 1,000 square feet.
Several major developments are under construction in the surrounding neighborhood, and 27-21 44th Drive is located just to the east of the Court Square subway stops, ensuring excellent transit accessibility. The tower would rise 282 feet into the air, which is substantial, but relatively small compared to the 40 and 50-story buildings that will soon rise nearby.
The land was assembled between 2011 and 2013, at a cost of less than $10 million. It was then sold to Silvercup about six months ago, for a bit over $21 million, or $188 per buildable square foot.