Posted Mar 14, 2017, 1:22 AM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,795
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NEW YORK | 45-35 11th Street | FT | 4 FLOORS
Project: 45-35 11th Street
Quote:
Long Island City’s unprecedented construction boom is bringing thousands of apartments to the market in the next year or two, but family-sized units are hard to come by. GDC Properties decided to fill that niche by building 38 two-family houses in Hunters Point, a section of the neighborhood where turn-of-the-century row homes bump up against warehouses.
“Our approach is to appeal to a pretty targeted niche of young families who want to take advantage of easy access to employment centers in Manhattan and Brooklyn,” said GDC co-chairman Adam Ginsburg. “People who have a couple of kids and need three bedrooms have few options, especially if they’re renters, within reasonable striking distance of Manhattan.”
The four-story homes will be the first large townhouse development in Long Island City in half a century. They’ll occupy half the block between 45th Road, 11th Street, 46th Avenue, and 21st Street, not far from Court Square, P.S. 1, and Sunnyside Yards.
And GDC has made the unusual decision to rent them out, instead of selling them. The 76 two- and three-bedroom duplexes will range from 1,900 to 2,300 square feet and rent for around $7,000 each, according to Ginsburg. The majority of the units are three-bedrooms, and most will have private outdoor space.
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NYY
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