The Hochul administration has launched a community engagement and site planning process for the approximately 100-acre state-owned Aqueduct Racetrack in South Ozone Park, Queens. Beginning this month, Empire State Development will conduct a series of community workshops and outreach initiatives to gather input from the public on priorities including housing, public open space, retail and community spaces, to be incorporated into the Aqueduct Community Master Plan, expected to be complete in early 2027.
ESD president, CEO and commissioner Hope Knight said, “The Aqueduct Racetrack site represents a once-in-a-generation opportunity to reimagine 100 acres of state-owned land in Queens. ESD is committed to working with the community through a robust and inclusive engagement process to develop a vision for this site that reflects their input and guides future development.”
The first, in-person community workshop is scheduled for May 12 at John Adams High School, 10101 Rockaway Blvd. in Jamaica. A follow-up workshop on May 14 will be virtual.
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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