Home News Tavros, Charney Plan 55-Story Apartment Tower in LIC

Tavros, Charney Plan 55-Story Apartment Tower in LIC

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Nicholas Silvers of Tavros Capital and Sam Charney of Charney Companies in front of 24-05 to 24-19 Jackson Avenue in Long Island City (Getty Images, Tavros Capital, Charney Companies, Google Maps)

The Long Island City site, where developers once envisioned Queens’ largest hotel, could soon yield instead one of the borough’s tallest high-rise apartment buildings.

Tavros Capital and Charney Companies have closed a long-dormant development site at 24-19 Jackson Avenue. $68.3 million, the record is displayed. Together with neighboring lots owned by Tavros and Charney at 45-03 23rd Street, the property forms a triangular conglomerate in the neighborhood Court Square area and the joint venture will include 600 apartments and 90,000 square feet of his We are planning a multi-purpose tower with 55 floors. Tavros representatives real.

The seller, Toyoko Inn, a Japanese hotel operator, spent $26 million between 2007 and 2014 to put the complex together and eventually submitted construction plans. 50-story, 1,200-key hotelwhich was the first in the United States and the largest in the outer provinces.

However, the hotel project never took off and in December last year the city council decided to give the developer get special permission Toyoko Inn before construction of the new hotel put the property on the market In January, we hope to raise about $60 million.

The CBRE team, led by Dan Kaplan, was sold to Tavros and Charney on behalf of Toyoko Inn. Made a contract May. Construction of the joint venture housing complex has already begun. The project was eligible for the 421a tax break because the foundation work was completed before the tax break ended in June, the developer said.

Tavros and Charney have experience teaming up on projects. In January, the two companies paid Property Markets Group $102 million Planned 660 unit apartments on a full block site at 318 Nevins Street in the recently zoned area of ​​Gowanus.

The partners also own a 177-unit Dime rental building in Williamsburg, jackson Located at 11-51 47th Street in Long Island City.

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