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41-32 27th Street, Long Island City, (New Development)

41-32 27th Street In Long Island City has been through couple changes of hands as well as plans in the past two years. The over 34,000 square foot buildable site was sold in 2013 for $3.5 million to a hotel developer who had even filed plans to build a “15-story and 46-room hotel of 34,409 square feet at 41-32 27th Street, in Long Island City; an existing” according to YIMBY. Then due to internal issues in the partnership according to an inside source, the partnership flipped the site seven months after purchasing it, for $5 million to the Hakimian organization headed by Shawn and Rex Hakimian. Now the owners plan to build a 15-story residential rental building on the 4,278 square foot lot, since the zoning allows for both hotel and residential use. QueensBeans was on site a few months ago and saw that the prior building was demolished and is being prepared for the foundation work. The site is just off of Queens Plaza with easy access to the subway. The area is seeing a lot of new construction, just recently the Hilton Gardens, opened as the 25th hotel in Long Island City. The QLIC is opening as an amenities rich residential building, the Marriott Tower and residential is nearing completion and PMG is going to the largest building in Queens. Queens Beans will update on all the progress.