Woodside corner lot sells to New Empire with eye toward condos

By Ben Miller – Staff Reporter,

Jun 28, 2022




A 19,000-square-foot corner lot at 58-01 Queens Boulevard in the Woodside neighborhood of Queens recently sold for $16.2 million and will be the site of a 120-unit condo project.


That's according to New York City developer New Empire Corp., which said it bought the site, currently the site of a closed Walgreens drug store that will be demolished.


New Empire said it's going to build a 12-story building with up to 120 one- and two-bedroom units and up to 60 parking spots. Upon completion in 2025, Empire said the site "is expected to have superior views and lights, with spectacular views facing Manhattan."


“The acquisition of 58-01 Queens Boulevard and the future development of the site will offer attainable luxury to an already vibrant community," said New Empire Chairman and CEO Bentley Zhao in an emailed statement. "In addition to the recent market reports that indicate that apartments in Queens are in limited supply, we believe the property’s optimal location, unique design elements and efficient unit layouts will be a draw to future residents. Having executed transactions in nearby Long Island City, we are confident that this new development will be a value-add property in the community."


New Empire said some of its other city projects this year include acquiring a 9,000-square-foot development site at 24-01 Queens Plaza North earlier this year, where the firm is expected to break ground on a 19-story, 124-unit condominium development in early 2023. That project is expected to be completed in 2025.



https://www.bizjournals.com/newyork/news/2022/06/28/queens-future-condominium-project-site-sells-for.html