June 28, 2022 By Michael Dorgan
A developer plans to bulldoze a shuttered Walgreens store on Queens Boulevard and construct a 12-story condominium building in its place.
New Empire, a Brooklyn-based developer, has purchased a 19,000-square-foot site on the corner of Queens Boulevard and 58th Street that is currently home to a vacant Walgreens store and a parking lot.
The developer acquired the 58-01 Queens Blvd. parcel two weeks ago for $16.2 million, according to Emily Zhu, the chief marketing officer at New Empire.
New Empire plans to demolish the now-shuttered Walgreens store and then construct a 120-unit condominium building on the site. The Real Deal was the first news outlet to report the story.
Zhu said the company was drawn to the corner property since it is easily accessible by road and public transport. She said the space is situated in a condensed residential neighborhood and the company is looking to attract condo buyers from the local area.
“The site is a good match for us and we are going to deliver a good product,” Zhu said. “The corner lot also gives us a lot more to play with in terms of the design of the building.”
She said that the condo units will be much more affordable than similar buildings situated in and around Manhattan.
The development will consist of a mix of one and two-bedroom units with an average price of around $750,000, Zhu said.
Zhu said that construction will begin next year. Building plans, however, have yet to be filed with the city since the designs are still being drafted, she said.
She said that residents living on the higher floors of the development will be able to see the Manhattan skyline and the high-rise buildings in Long Island City.
The Woodside development will be New Empire’s third in Queens with its two other locations being in Long Island City. The company recently constructed a 7-story condo building at 37-14 34th St., called The Neighborly LIC, and it plans to develop a 19-story residential tower at 24-01 Queens Plaza North.
“We have a good understanding of the market in Queens and we are looking to diversify our developments throughout Queens.”