A Long Island City development site with more than 200,000 buildable square feet is on the market, asking $50 million.
The V-shaped site at 29-37 41st Avenue comes with plans for a 30-story, 242-unit condominium tower with 29 parking spaces. The proposal for the 174’ by 222’ lot is pending Department of Buildings approval. There’s also the possibility of an as-of-right 15-year tax abatement. The total buildable square footage is 204,938.
The “Maiestas” condo project would contain 197,356 residential square feet and 7,582 commercial square feet. Under the current plan, all the units would be two-bedroom, two-bathroom homes for “the discerning buyer who is not looking to move up in size and price after their family size increases,” according to the listing.
The Address Group is marketing the site.
Images: The Address Group