New 33-Unit Residential Building Set to Arrive in Long Island City
By Isabelle Durso October 28, 2024 5:40 pm
reprints
It looks like a 10-story residential building is coming to Long Island City, Queens.
A new application submitted to the New York City Department of Buildings last week calls for a 33-unit building spanning roughly 37,000 square feet to go up on the vacant lot at 42-76 Hunter Street, according to city records.
The listed owner in the filing is Montperia Group’s Alex Lau. An entity tied to construction firm JLS Group bought the property for $2.7 million in 2023, according to Crain’s New York Business, which first reported the news.
Edwin Cheuk from Grand Millennium Consulting Engineer filed the new plans for the project, while My Architect was listed as the architect, records show.
Lau could not be reached for comment, while spokespeople for JLS and Grand Millennium did not immediately respond to requests for comment.
The new Queens building is planned to be 10 stories with space for retail on the ground floor, according to the filing.
And this isn’t JLS and Montperia’s first project together in Long Island City. The companies previously bought 24-02 Queens Plaza South, formerly the Apex Technical School, from the Carlyle Group in 2023 for $49 million, Crain’s reported.
The pair wants to build a 40-story, 216-unit residential and retail building on that site, which will cover about 280,000 square feet, according to Crain’s.
As for other activity in the neighborhood, ZD Jasper Realty bought the development site at 45-40 Vernon Boulevard from Quadrum Global, Baron Property Group and Simon Development for $47 million in April, as Commercial Observer previously reported. That site was set to become a 23-story building with 226 units, but it’s unclear what ZD Jasper is planning to construct.
The projects come as Mayor Eric Adams works on a plan to rezone a swath of Long Island City with the hopes of creating as many as 14,000 new homes in the neighborhood, Crain’s reported. That plan will mainly target industrial blocks between office and residential buildings in Long Island City.
Isabelle Durso can be reached at idurso@commercialobserver.com.
