By Madina Toure
Private equity firm Onex Real Estate Partners announced it had sold out half of the condominiums in the first tower of Sky View Parc in Flushing.
About 700 people came to an exclusive preview event Jan. 24 for VIP buyers, where the company sold about 120 units in about four hours at Grand One, the first of three luxury towers planned for the second phase of the condominium Sky View Parc, said Michael Dana, president of Onex Real Estate Partners.
The waiting list had 8,000 people, who were interested due to the success of the first phase.
“We basically had to stop sales because we didn’t want to sell any more than that on that day,” Dana said. “I think it’s very unusual for the New York market to have that kind of demand.”
Ranging in size from 492- to 1,965-square-feet, the homes at Grand One cost anywhere from $450,000 for a studio and $2 million for a three-bedroom apartment.
“We had done a very thorough analysis of Flushing and we determined that it was under-served for both retail and residential,” Dana said. “We believe that Queens in general is really one of the strong growth areas in New York City and Flushing is the center of that growth.”
Sky View Parc is located on 40-22 College Point Blvd.,
The second phase, known as The Grand, consists of 805 condominium units. The company has started doing the early construction work and expects the towers to start going vertical in July.
Homes in The Grand will have state-of-the-art appliances such as an in-suite washer and dryer in each residence as well as floor-to-ceiling windows and a balcony.
The first phase of the project, which consisted of retail units and 448 condominium units, were completely sold out by 2013.
Reach reporter Madina Toure by e-mail at email@example.com or by phone at (718) 260–4566.