BY JACKIE STRAWBRIDGE
Changes to the Dutch Kills landscape show no signs of slowing down.
Last Friday, Eastern Consolidated Real Estate announced the $6.5 million sale of an 18,000-square-foot, one-story warehouse located at 37-10 Crescent St. The building currently houses the Paris limousine company.
The buyer is Ranger Properties, according to property records.
Eastern Consolidated senior director Peter Carillo, who represented the seller with associate director Chad Sinsheimer, said the buyer intends to put a residential property on the site, available for rent or possibly as a condominium.
According to Carillo, the sale represents“a pretty good deal for both parties,” adding that the site’s proximity to the N, Q and 7 trains at QueensboroPlaza makes it particularly appealing.
“Long Island City has become a very unique market – it kind of changes on a flux basis,” Carillo said.
According to a report released last week by the real estate firm Douglas
Elliman, the median rental price in Northwest Queens, which includes Long Island City as well as Astoria,
Sunnyside and Woodside, dropped .5 percent in May from the same month last year, after four consecutive months of gains.
Six blocks over at 32-04 38th Ave., plans for a new condominium move forward.
Renderings released by architecture firm ND Architecture and Design depict plans for a white, red and black structure reminiscent of a Mondrian painting.
The property sits in an area that was rezoned to support residential and commercial development in 2008, and permits slightly taller buildings than much of the adjacent neighborhood.
ND Architecture and Design declined to comment about the project until it is approved by the Dept. of Buildings, which it expects imminently.
The 20-unit condo would stand six stories, with off-street parking for 10 cars and 10 bikes, according to the building application.
Reach Jackie Strawbridge at (718)357-7400, Ext. 128, firstname.lastname@example.org or @JNStrawbridge.