BY JAMES FARRELL
The first major high-rise, mixed-use building in the Dutch Kills section of Long Island City was topped off Wednesday, Aug. 24, marking the first major project in what will likely be a wave of new residential development in the area.
The building, a 10-story, 135,000 square foot structure at 37-14 36th Street, which was designed by architectural firm Montroy Andersen DeMarco and built by 1 Oak Contracting, was developed by an affiliate of Silver Star Motors, a Mercedes Benz dealership. It will feature a car showroom and dealership on the first two stores and 85 rental apartments on the upper floors.
“We are excited to achieve this significant milestone in the development process, thanks to the efforts and dedication of the design and construction team of Montroy Andersen DeMarco and 1 Oak,” said Michael Cohen, principal of Silver Star Motors.
The project’s initial intention was to build a new pre-owned showroom and expand pre-owned sales parking for Silver Star Motors. But during discussion, Principal of Montroy Andersen DeMarco Richard DeMarco noted that that the property’s zoning could allow for residential space.
“Based on our experience in optimizing buildings’ size and revenue, while working within the complex New York City zoning regulations, we thought it best to maximize value for the owner and perform a test fit that would provide the highest return on investment,” DeMarco said.
Montroy Andersen DeMarco’s analysis showed that the building could support 87 residential apartments.
“When we heard about the possibility for a greater ROI, we were intrigued,” said Cohen. “When the numbers came back, we were sold.”
“It will be one of the first new high-rise residential buildings to open its doors in the increasingly popular eastern section of Long Island City,” said DeMarco.
The cellar will house residential parking spaces, residential storage and utility systems. The dealership on the first two floors will feature a parking area, mezzanine on the double-height first floor and a secondary showroom on the second floor.
“In the residential portion of the building, the lobby has an industrial loft look,” said Elizabeth Zagarello, Montroy Andersen DeMarco’s project manager. “It is open, warm and has an elegant feel.”
The residential amenities, including a gym, outdoor barbecue area, Zen yoga space and outdoor trellis seating area, are all located on the third floor. There is also a lounge with a pantry, communal table and a television lounge.
“This magnificent project has presented several technical and logistical cchallenges to our construction crew,” said 1 Oak Contracting Principal Benjamini. “Today’s ceremony and the fact that the building’s development is proceeding on schedule is a testimony to the great skill of our site personnel and New York City construction laborers.”
Reach James Farrell at (718) 357-7400 x127, email@example.com or @farrellj329.