Aug. 12, 2022 By Michael Dorgan
Two developers plan to construct a 55-story mixed-used tower next to the Court Square subway station in Long Island City that would come with around 600 apartments.
The developers, Charney Companies based in Long Island City and Tavros Capital based in Manhattan, recently purchased an 18,000 square foot parcel at 24-19 Jackson Ave. for $68.3 million.
The site, which is currently vacant and consists of overgrown greenery, is situated adjacent to the Court Square subway station.
Charney Companies and Tavros Capital plan to combine the parcel with an adjoining site they own—an 11,000 square foot property at 45-03 23rd St. — in order to build the high-rise tower, a representative for Charney told the Queens Post.
The 23rd Street site is also vacant. The developers purchased the site in 2016, city records show.
No building permits have been filed to date. However, Charney’s representative confirmed the plans and said the development would also include 90,000 square feet of retail space and office space. It is unclear when construction on the project would begin.
The developers bought the Jackson Avenue site in June from Toyoko Inn, a Japanese hotel operator, and qualify for the city’s 421a tax abatement which expired at the end of June.
Toyoko Inn had planned to build a 50-story hotel with 1,200 rooms on the Jackson Avenue site but decided not to move forward with the project. Toyoko Inn put the site up for sale in December, shortly after the City Council passed a zoning text requirement that necessitates developers to obtain a special permit in order to construct new hotels.
The zoning change aims to limit the number of hotels being built in the city.