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Thread: Astoria Development

  1. #1

    Default Astoria Development

    June 13, 2003

    188 Co-op Units Planned for Ex-Factory in Astoria

    By RACHELLE GARBARINE

    Work is under way to turn the former Eagle Electric Company factory and warehouse site in Astoria, Queens, into a co-op complex with 188 apartments. The conversion, which includes new construction, is a departure from the overwhelming pattern in recent years of developing for-sale units as condominiums.

    Half of the apartments are being carved from the three-story 1920's factory, which will have three stories added as part of the redevelopment. The remaining units will be in a new five-story building that is rising next to the old factory building and will be linked to it. The site fills an entire block, bounded by 19th and 21st Streets, 24th Avenue and 23rd Terrace.

    The buildings in the $30 million project, called Riverview Apartments, will overlook a central courtyard. The Pistilli Realty Group of Astoria is developing Riverview, which will also include 10,000 square feet of stores and parking for nearly 200 cars. Construction will take 18 to 24 months.

    According to the New York State attorney general's office, whose approval is required for co-op or condo offering plans, 19 co-op plans covering 1,531 new or converted apartments have been filed since 1997, compared with 650 condo plans, involving 16,754 apartments. Industry specialists say the condo form of ownership has gained favor because it puts fewer restrictions on apartment owners than is typical in co-ops.

    Joseph Pistilli, chief operating officer of Pistilli Realty, said he chose the co-op form of ownership because the community wanted for-sale housing, rather than a rental, and because he leased the factory and the land rather than owning it. Condos must own both their buildings and the land beneath them.

    Mr. Pistilli said, however, that the lease included an option to buy the property in 10 years at an agreed-upon price. He also said the offering plan he expected to submit to the attorney general's office in 90 days would include a provision making it mandatory that apartment buyers participate in the purchase of the building and land.

    Mr. Pistilli said that the plan was to refinance the complex at that time, replacing lease payments with mortgage payments. He added that he could not say whether monthly maintenance charges for apartment owners would be higher or lower because of that change.

    Daniel Martin, a vice president at the Roslyn Savings Bank, which provided $19.5 million in financing to the project, said that the market was strong and that "Riverview offers homeownership opportunities in a homeownership area."

    The 75-year-old Eagle Electric factory, where switches and other electrical devices were once made, is in a neighborhood of one- and two-family homes. The building also is next to Astoria Park and overlooks the East River.

    Mr. Pistilli said the location was a chief reason he got involved with the site three years ago. But for the project to move ahead, the zoning for the property had to be changed from manufacturing to residential that also allowed retail space.

    Lucille Hartmann, assistant district manager of Community Board 1, said the Eagle warehouse was among the last big commercial buildings left to redevelop in Astoria. Another is the former Stern's warehouse at 45-02 Ditmars Boulevard, which Mr. Pistilli bought last year to convert to up to 225 condos.

    The Augusta Group of Glendale, Queens, has designed Riverview with studio to three-bedroom apartments of 800 to 1,500 square feet. The units in the existing factory will have river and Manhattan views and many will have 16-foot high ceilings.

    The top floor will be divided into two levels, and three new floors, which will step back from the original factory, will be added. Many of the apartments in the new structure will have terraces.

    Sales prices have not yet been set, but Mr. Pistilli said he expected them to be $300 to $400 a square foot, or an average of $350,000 for a 1,000-square-foot apartment.

    George Alexiou, president of an Astoria real estate brokerage company that bears his name, said that while those anticipated prices were "a little high," buyers might be willing to pay them because Riverview was new and the apartment market in the area was tight.

    Monthly maintenance fees have not been determined. But since they will include the rent to lease the property, they are expected to be generally higher than the monthly maintenance costs at traditional co-ops.

    Copyright 2003 The New York Times Company

  2. #2
    Forum Veteran
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    If this is going to be the Astoria thread then it needs to be renamed.

    Tower 21
    14 floors

    Architect: Giannetti Architectural Services






    http://www.gianetarch.com

  3. #3

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    If tower 21 is the building on the corner of 21st and broadway, then I looked at an apt in that building. Nice building, great landlord. But the bedrooms were small. Had a very dorm feeling to it. I saw a 2bdrm in the Metroview next door and it was a lot nicer. Same price and you got bigger rooms and a balcony.

  4. #4
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    Quote Originally Posted by shocka
    If tower 21 is the building on the corner of 21st and broadway, then I looked at an apt in that building. Nice building, great landlord. But the bedrooms were small. Had a very dorm feeling to it. I saw a 2bdrm in the Metroview next door and it was a lot nicer. Same price and you got bigger rooms and a balcony.
    21st street is seeing some good construction in the 12 story range, would like to see more, especially down by the 59th St. Bridge...ripe and a great location. Would also like to see "Old" Astoria preserved...some nive old houses there that are being torn down and replaced with crap.

  5. #5
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    $1000 a month/ 500 sq ft+/ 1 bedroom/ less than 3 blocks from subway

    possible?

  6. #6
    Disgruntled Optimist lofter1's Avatar
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    25-82 37th STREET QUEENS

    DOB New Building:

    6 stories / 55' / 16 Units

    Guilty Party, errrrr, ARCHITECT: Donna L Difara / WDA Architects & Planners

    ***

    That's Rather Hideous:
    Storming Astoria's Castle

    CURBED
    January 14, 2008
    by Joey



    We don't know really know anything about this building,
    dubbed the "Astoria Castle" by OuterB, but we'll assume
    the dragon keeps the maiden locked in the penthouse.



    · Astoria Castle Gates [OuterB]

    ***

    Astoria Castle Gates

    OUTERB.com
    January 14th, 2008
    by MegC

    Well, the “Astoria Castle” finally got its gates.
    It does not improve things.



    There’s more construction across the street.
    Who knows what it’s going to look like in the end!



    ***

  7. #7

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    Cool! A castle!

  8. #8
    Jersey Patriot JCMAN320's Avatar
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    ^^Hey royal highness, was the castle your idea?

  9. #9

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    I should try and get a place there, not quite Buckingham Palace though.

  10. #10

    Default Skate Park for Astoria

    Astoria's boarders to shred at skate park

    BY DONALD BERTRAND
    daily news staff writer
    Tuesday, March 18th 2008, 4:00 AM

    Work on a $1.25 million skateboard park that a local Councilman has been trying to have built in Astoria Park for years is finally scheduled to get underway soon.

    "This project will give kids a place to skate that is far away from the busy sidewalks and parks where they sometimes inconvenience other people, especially seniors," said Councilman Peter Vallone Jr., who provided most of the funding.

    Almost four years ago, Vallone (D-Astoria) noticed that a large parcel of land under the Triborough Bridge was fenced off and full of construction equipment.

    Upon further investigation, Vallone discovered the land was leased by a construction firm. Once the lease expired, he petitioned the Parks Department not to renew it.

    In July, the company was told to remove its equipment. The plot now sits as a vacant, open area primed for work to begin on the skateboarding facility.

    Currently, skateboarders use Athens Square Park at 30th Ave. and 30th St., among other areas.

    "I have been working to bring this project to Astoria for a long time. It is fulfilling to see something go from an idea to a completion during my term as a Council member," Vallone said. "Before, all we had here was trucks and equipment. Now, we will have a great park for kids to come and have fun."

    Queens Parks Commissioner Dorothy Lewandowski said the new park will offer the obstacles skateboarders crave while at the same time limiting the city's liability.

    "What we are creating in Astoria Park replicates in many ways a lot of the municipal street furniture that kids skate on already. But this gives them a destination location where they can meet in a safe, secure environment," Lewandowski said.

    The new skate plaza "will have ramps that have a maximum height of three feet, which for the city meets our criteria for limiting liabilities," she added.
    "Anything over three feet requires that Parks have supervision and that it be gated and closed when we don't have park staff on duty."

    Contractors are scheduled to break ground on the project in early May and expect to finish in nine months, Vallone said.

    Located under the bridge and near Shore Blvd., the skate park site, he said, is situated far enough away so as not to disturb Astoria residents.

    dbertrand@nydailynews.com

    Copyright 2008 The New York Daily News.

  11. #11

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    I didn't think it was possible, but, low and behold a building uglier than a Kaufmann.

  12. #12

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    Driving on the Queensboro bridge the other day I saw a building in lower Astoria with a swooping top. It looked decent. Maybe 20 storeys, anyone know anything about this project?

  13. #13
    Build the Tower Verre antinimby's Avatar
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    Are you talking about the Astoria Grand Hotel (another great view of it here also) on the SE corner at 39th Ave. & 29th St. in Dutch Kills?

    It's only 13 stories but even their NIMBY neighbors think it's too tall and is crying for a downzoning for the whole area.

    And the damn city will do it too!

  14. #14

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    Yes. Its very nice for that part of Queens.

  15. #15

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    I see this from the subway, it has a decent design, would put alot in Manhattan to shame.

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