In this article, I will summarize some recent developer New Building filing activity in the Borough from optimistic developers, from October 2020 to December 2020. 10

HIGHLIGHTED NEW BUILDING FILINGS IN QUEENS / 4TH QTR 2020:

1. 37-24 33RD STREET, LIC NY 11101

a. Filed on 10/19/2020

b. A 15,889 sq. ft. irregular lot, with 126 ft. of frontage in a M1-2/R6A, special LIC Zoning District.

c. Constructing a 58,254 sq. ft., 7-story, 75’ tall, 64- Unit mixed-use building. The building will have 10,601sq. ft. of Commercial space and 47,653 sq. ft. of residential space. The site will also have 32 parking spaces.

d. Developer is: George Xu of Flushing.

i. Paid $13,000,000 for the site on Jan 6 2020.

ii. A $7,000,000 acquisition loan from Amerant Bank

iii. Price equates to $223/ZFA

2. 26-41 3RD STREET, Astoria NY 11102

a. Filed on 10/15/2020

b. A 14,751 sq. ft. lot with 103 ft of frontage in an R6/ C1-3 Zoning District.

c. Constructing a 70,118 sq. ft, 7-Story, 75’ tall, 58- Unit mixed-use building. The building will have 14,681 sq. ft. of Community Facility Space, 14,780 sq. ft. of Commercial space and 40,658 sq. ft. of Residential space. The site will also have 29 parking spaces.

d. Developer is: Yitzchok Katz of Brooklyn.

i. Purchased for $8,950,000 on September 10, 2019

ii. A $5,370,000 acquisition loan from Bank Leumi USA

iii. Price equates to $127/ZFA ($161/ZFA as-ofright)

3. 43-14 QUEENS STREET, LIC NY 11101

a. Filed on 12/14/2020

b. An assemblage consisting of 8 lots + Air Rights from the MTA, with a total lot area of 96,419 sq. ft. and 463 ft. of frontage, in a M1-5/R9/LIC Zoning District.

c. Constructing a 771,262 sq. ft., 19-Story, 229’ tall, 301-Unit mixed-use building. The building will have 28,287 sq. ft. of Commercial space and 742,875 sq. ft. of Residential space.

d. Developer is: Rockrose

i. Paid a Total of $108,498,205 over 8-years. This equates to $140/ZFA.

4. 42-62 HUNTER STREET, LIC NY 11101

a. Filed on 12/3/2020

b. Two lots totaling, 4,002 sq. ft. lot with 59 ft. of frontage in a M1-5/R7-3/LIC Zoning District.

c. Constructing a 22,305 sq. ft., 12-Story, 125’ tall, 27-Unit Mixed-use building. The building will have 3,357 sq. ft. of Commercial space and 18,948 sq. ft of Residential space.

d. Developer is: Xi Zhao of Great Stone NY

i. Paid of a total $5,540,000 which equates to $248/ZFA.

5. 54-19 2ND STREET, & 54-01 2ND STREET, LIC NY 11101

a. Filed on 12/15/2020

b. A 326,417 sq. ft. lot with in an R7-3/SHP Zoning District.

c. Constructing Two (2) buildings on one lot.

i. 1. A 499,285 sq. ft., 34-story, 400’ tall, mixeduse building with 575-apartments. The building will have 13,829 sq. ft. of Commercial space and 485,455 sq. ft. of Residential Space.

ii. 2. A 722,731 sq. ft., 39-Story, 400’ Tall, Mixeduse building with 812-apartments. This building will have 12,840 sq. ft. of Commercial space and 710,890 sq. ft. of Residential space. 21 / developmentsites.com Queens, NY Development News By Rubin Isak, Managing Principal, Co-Founder

iii. The 2 buildings will total 1,222,016 sq. ft., 26,669 sq. ft of which is Commercial space and 1,196,435 sq. ft. will be Residential space, for a total of 1,387 Apartments.

d. Developer: TF Cornerstone

i. Paid $285,000,000 on November 8, 2018, which equates to $233/ZFA

6. 153-10 88TH AVENUE, JAMAICA, NY 11432

a. Filed on 11/16/2020

b. A 34,375 sq. ft. lot with 125 feet of Frontage in an R7A/DJ Zoning District within an Inclusionary Housing Zone.

c. Constructing a 157,265 sq. ft., 9-Story, 95’ tall, 223-Unit Mixed-use building. The building will have 6,569 sq. ft. of Community Facility space and 150,696 sq. ft. of Residential space.

d. Developer is: Zara Realty

7. 143-10 94TH AVENUE, JAMAICA NY 11435

a. Filed on 12/1/2020

b. Two lots, totaling 9,010 sq. ft. lot with 90 ft. of frontage in a C4-5X/DJ Zoning District.

c. Constructing a 38,010 sq. ft., 9-Story, 95’ tall, 120- unit Transient Hotel with Community Facility.

d. Developer is: Makhan Sandhu

e. Paid $6,000,000 in 2-sales in 2019 and 2020, which equates to $157/ZFA.

8. 104-16 Tuckerton Street, Jamaica NY 11433

a. Filed on 11/2/2020

b. A 22,943 sq. ft. zoning lot, with 122 ft. of frontage in an M1-4 Zoning District.

c. Constructing a 59,145 sq. ft., 8-story, 84’ tall, Transient Hotel with Community Facility Building with 96-rooms.

d. Paid $5,975,000 in July 2018, which equates to $101/ZFA

e. Developer is: Tejpal Sandhu

9. 90-02 168TH STREET, JAMAICA NY 11432

a. Filed on 10/2/2020

b. A 99,588 sq. ft. lot, with 256 ft. of frontage in a C4- 5X/DJ Zoning District.

c. Constructing a 492,987 sq. ft., 12-Story, 124’ tall, mixed-use building with 614-Apartments. The building will have 24,543 sq. ft. of Commercial space, 5,053 sq. ft. of Community Facility space and 463,391 sq. ft. of Residential space, with 271 Parking Spaces.

d. Developer is: BRP Companies 1

0. 40-18 76TH STREET, ELMHURST NY 11373

a. Filed 10/2/2020

b. Two lots totaling, a 26,055 sq. ft. lot with 120 ft. of frontage in a R6/C2-3 Zoning District.

c. Constructing a 121,080 sq. ft., 12-Story, 120’ tall, Commercial Building. The building will have 105,276 sq. ft. of Community Facility space and 15,804 sq. ft. of Commercial Space and 36 Parking spaces.

d. Developer is: Maxim Properties

These 10 filings alone in the last 3-months, account for 3,012,442 sq. ft. Square Feet and 2,674 New Apartments plus 216 New Hotel Rooms. We expect New Building filings to increase as development site transaction volume starts to increase in the 2nd and 3rd Quarters of 2021. Stay tuned.