New Development, 41-18 24th Street, Long Island City
The Lions Group New York is continuing their rapid development growth in Long Island City and Astoria. YIMBY has revealed their new project on 24th Street between Queens Plaza North and 41st Avenue.
According to the YIMBY report, Tom Mui of My Architect, is designing the project, which is to be a 13-story rental building,120 high with 87 rental units totaling 66,256 for residential space.
The ground floor is to have a 21-space garage, and bike storage for up to 45 spaces. Other amenities are to include a a screening room, billiards room, children’s play room and a gym.
QueenBeans.com was by the site last winter noticing the vacant land beloning to the Shirian’s of NY Lion’s Group and at the time, they had informed QueensBeans.com that there were no set plans yet as they were focusing on their Queens Plaza South project and Jackson Avenue projects.
Back in 2012 the company bought the lot for $2.575 million, which equated to about $36 per buildable square foot at time. The rents in one year in the fully occupied building should return the developers investment for the land acquisition. The location ideally located near the Queensboro Plaza corridor and a five minute walk from Queens Plaza 7, N and Q trains as well as the 21st street F train. The project is also near where Ciampa just purchased the site of the former Scandals Club as well as the new QLIC building and Packards Square.
The Shirian’s have been extremely active in Long Island City and Astoria with completed projects such as 10-50 Jackson Avenue, The Vista on 44-15 Purves Street and The Bindery at 47-43 11th street. This new project at 41-18 24th street, is another additions to other Lions Group projects in the pipeline. This takes their upcoming projects in LIC and Astoria to a total of seven. The others are: The Baron in Astoria at 14-01 Broadway, One Queens Plaza at 42-10 27th Street in Queens plaza South, Jackson Avenue West at 27-01 Jackson Avenue, Jackson Avenue East at 26-32 Jackson Avenue, 47-05 5th Street and 42- 83 Hunter St.
QueensBeans.com will continue to follow the progress of the Lions Group projects and update..