A New Beach Front Condo Building Slated For the Rockaways Amid A Slew Of New Development
Five years on since Superstorm Sandy, Queens’ coastal peninsula is in the midst of a development boom.
Proving that New Yorkers are the masters of reinvention, particularly when it comes to real estate, a new millennial-friendly condo tower is due to rise up in the Rockaways, Queens—the first of its kind since Superstorm Sandy devastated the area in 2012.
A nine-story building called One Sixteen, will house 90 one-to-three-bedroom units at 147 Beach 116th St. Most of the apartments will come with an outdoor space and will have a common roof deck, gym and and doorman. The developers are the Marcal Group and the broker/marketers are Compass. According to the the building’s website, apartments will start at $300,000 are “Crafted with meticulous detail and versatile finishes…comfortable spaces ideal for entertaining or relaxing at home.”
Bolstering the appeal of the property was the May 1st launched city run ferry service which allows a one hour commute to Wall St., weather and waves permitting. The multi-borough line also includes routes to Astoria, Sunset Park and Lower Manhattan. There will also be surf board racks, presumably not meant or Wall St. commuters, at during the work week. Free shuttle beach bound buses will help ensure surf dudes and dudettes can catch a wave or two during the summer months.
The Rockaways are currently basking in a wave of newly-completed or about to be completed development projects which is transforming the post Sandy landscape. The often delayed boardwalk has now been completely remade and will open on Memorial Day, 2017.
There has also been a city investment (by the Economic Development Corporation in partnership with HPD) of $91 million in downtown Rockaway, near Mott & Central Avenues. Developers have been urged to tender proposals for a city-owned lot, with ongoing submissions expected throughout 2017.
Lest there is a temptation to think that the Rockaways is attempting to usher in gentrification with hipster centric new condos, a number of affordable housing projects are being developed. They include a 101-unit, environmentally sustainable seven-story building called Beach Green North, which hosts roof garden and solar panels. Natural gas boilers provide the additional heat and electricity. Rents range from $653 a month for a studio to $1,597 for three bedrooms.
Another affordable housing development is 93-06 Shore Front Parkway with 63 apartments with rents ranging from $690 for a studio and $2,120 for a three bedroom.
The 154-unit Beach Channel Senior Apartments is targeted for low-income residents, with 46 apartments for formerly homeless seniors.
The Rockaway’s high unemployment and the addition of more low income residents (the eastern end of the peninsula already has five NYCHA low-income projects) has existing locals worried that not enough economic stimulus is being provided.
“The development of vacant lots will bring a sense of community to the area,” Jonathan Gaska, district manager for Community Board 14 said. “The board would like to see more market-rate housing in order to attract people with disposable income here to create jobs.”
AGORAFYDo you know how the so-called “affordable” real estate in New York is getting less affordable by the day whereas the city’s luxury market is softening? #luxury #condo https://goo.gl/Avx5AS
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