Prime Long Island City site could be the perfect spot for Amazon’s HQ2

Posted On Wed, October 18, 2017 By

Posted On Wed, October 18, 2017 By In Design, Long Island City, Queens, real estate trends

Rendering of the Hunters Point South project, courtesy of NYCEDC

An eight-acre, 1.6 million-square-foot residential site next to Hunters Point South is for sale, a piece of land owned by a family for generations. According to the New York Post, the site could potentially bring in $480 million if targeted to market-rate condominiums since land in Long Island City sells for roughly $300 per square foot. The triangle-shaped plot of land found at 55-01 Second Street and bounded by 54th Avenue and Vernon Boulevard, sits on Newtown Creek, an estuary that forms part of the border between Brooklyn and Queens. The site might make the perfect spot for Amazon’s second headquarters as the tech giant seeks 500,000 square feet for their HQ2 by 2019.

newtown creek, amazon, long island city
Google Earth highlighting the LIC waterfront, via CityRealty

Because former Mayor Michael Bloomberg rezoned Hunters Point South in 2008, new towers built on this site will be able to reach a maximum of 400-feet-tall. The LIC project comprises of seven properties, with the first two parcels developed by Related Companies. TF Cornerstone was selected in 2013 to develop the project’s second phase. Overall, the New York City Economic Development Corporation expects to bring up to 5,000 housing units to the area, with 60 percent of them affordable.

The Post estimates that if each apartment measures 500 to 700 square feet, the site could include roughly 2,000 units. The current low-rise industrial buildings will be delivered vacant. The eight acre-site will also most likely need new infrastructure underground, green spaces and other amenities.

newtown creek, amazon, long island city
The site corresponds with B-N and B-S on this sitemap, via NYCEDC

Amazon launched a nationwide competition to find a home for their second headquarters in September and the deadline for submissions is set for Thursday. The city is itching to win the race, with over two dozen proposals from 23 NYC neighborhoods crafted. Even Mayor Bill de Blasio, who said he’s never bought anything from the online retailer, will light the Empire State Building and One World Trade Center in “Amazon orange” on Wednesday night at 9 pm to show support for the city’s HQ2 bid.

[Via NY Post]

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Neighborhoods : hunters point,Long Island City

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