Proposed Building at 49-09 5th Street, Long Island City, 11101
One of the top real estate owners in Long Island City, Plaxall, has a proposed rendering and plans for their site at 49-05 5th in Long Island City. Located in the booming, Hunters Point South sub-market of Long Island City, this site is located centrally to the waterfront and Gantry State Park to the northwest and block from the 7 train to the east.
It is not clear whether the building proposed will be rentals or condominiums as the area is now showing strong growth in condos above $1000 per square foot. The plans call for 2,800 square feet of ground floor retail and 1,600 sqaure feet of cellar retail, as retail is much in need with the influx of density in Long Island City. Vernon Boulevard near by is growing and has a strip of restaurants and light retail and some nightlife. If this building were to be completed, it will be a great addition to the area. Stay tuned as QueensBeans.com brings the updates.