Warehouse Sale, New Building Permit for Crescent Street

crescent-street-LIC

A few bits of development news for Crescent Street. First, the Commercial Observer reports that the 18,000-square-foot warehouse at 37-10 Crescent Street (pictured), between 37th and 38th avenues, sold for $6,500,000. Ranger Properties and Sagamore Crescent LLC bought the property, which is zoned for residential, hotel and light industrial use. The developer’s plan? A residential development, although no details on the size or design yet. The zoning could accommodate between seven and nine floors of development. According to Commercial Observer, “The developer could expect to command residential rents in the $40 to $50 per square foot range.”

And New York YIMBY reports that the DOB issued permits for a 13-story development at 42-14 Crescent Street, between 42nd Road and Queens Plaza South. The developer Meadow Partners plans for a 45-unit, 39,879-square-foot build with 746 square feet of retail. As YIMBY rightfully predicts: “Crescent Street may soon be brimming with new projects.” GMAP

Photo via Google Maps

2 Comment

  • Back in the mid 1960′s this building had a life as “Crescent Lanes” – an AMF bowling alley. At that time, the Mater Christi Diocesan H.S. (today’s St. John’s Prep) intramural teams bowled Friday afternoons at the Crescent lanes.

  • I hope they have space left over for a new Thai food spot. Just not enough of those around these parts.