A Long Island City development site located one block away from the former 5Pointz building and MoMA PS1 will be turned into a mixed-use condo.
Circle F Capital is planning to buy the site at 22-43 Jackson Ave. for nearly $25 million from the local 808 pension and health fund union, The Real Deal reported. Though plans have not been filed, the firm plans to build a 10- or 11-story building with condominium units and 25,000 square feet of retail space.
Now, the site is a 64,000-square-foot, one-story building and allows 76,000 of buildable square feet. The union has owned the site for more than 20 years.
Jackson Avenue is also home to The Jackson, a new 11-story luxury condo, and will welcome a Chipotle at 26-14 Jackson Ave.
