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Tuesday, January 10, 2012

Whitestone Development site worries community

A 13-acre property in Whitestone is up for grabs — the largest single parcel of land for sale in Queens — and it’s attracting the attention of developers but also causing concern among community leaders.

The former industrial site, located at 151-45 6th Rd., was re-zoned for 52 one-family homes in 2008. The waterfront property comes with an additional five acres that is submerged underwater.

Local leaders worried about overdevelopment in the community said they are concerned that a new owner could build many more homes or even multi-family dwellings.

State Sen. Tony Avella (D-Bayside) said the community wants the buyer to stick to the original plan for 52 one-family homes. “If a developer intends to do something else, they can expect to get a huge fight,” he warned.

The property hit the market in early December after the owner ran into financial difficulty, said real estate agent Stephen Preuss, of Massey Knakal Realty Services, who is handling the site.

“It’s probably going to be a few months before we have any type of sale,” Preuss said. But “it’s one of the most desirable areas to live in Queens.”

Prospective buyers must submit overviews of what they plan to build on the site, Preuss said. He added it will “probably sell for a very deep discount.”

Marlene Cody, vice president of the Greater Whitestone Taxpayers Civic Association, said she’s concerned that a large influx of new residents could overburden the area’s infrastructure.

“We have to be careful what they want to put there,” she said. “The community’s being overbuilt.”

Nelly Andrushenko, owner of Power Realty in Whitestone, said the land is worth about $40 million — but it won’t be an easy sale.

“It’s very difficult to tell the value of this property because the developers don’t want to touch it right now,” she said. “In order for [developers\] to build the luxury homes that were intended, they need to spend $600,000 minimum to build each house.”

Whitestone homes typically sell for about $1 million, she said.

A nearby shopping center, anchored by a Waldbaum’s, was sold to the New Jersey real estate company Onyx Equities for $17.6 million on Dec. 27. It is located at 153-01 10th Ave.

“We want to improve the physical quality of the center,” said Onyx Senior Vice President Steve Sullivan. The company also wants to improve “the quality of the existing tenant roster.”

1 comment:

Malba Gardener said...

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This is a community blog meant for the community with the purpose of bringing the community together. Disagreement is healthy, name calling, wild allegations, and cursing about private citizens is not.

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