Apartment

Tavros, Charney Plan 55-storey apartment tower at LIC

Nicholas Silvers of Tavros Capital and Sam Charney of Charney Companies in front of 24-05 at 24-19 Jackson Avenue in Long Island City (Getty Images, Tavros Capital, Charney Companies, Google Maps)

A site in Long Island City where a developer once envisioned Queens’ tallest hotel may soon spawn one of the borough’s tallest apartment towers.

Tavros Capital and Charney Companies have closed the longtime development site at 24-19 Jackson Avenue for $68.3 million, records show. Together with a neighboring parcel owned by Tavros and Charney at 45-03 23rd Street, the property forms a triangular assemblage in the Court Square neighborhood, where the joint venture plans a 55-story mixed-use tower with 600 apartments and 90,000 square feet. of shops and offices, said a representative of Tavros The real deal.

Vendor Toyoko Inn, a Japanese hotel operator, spent $26 million tinkering with the assembly between 2007 and 2014, eventually filing plans for a 50-story, 1,200-key hotel that would have been the first in the United States. and the largest in the exterior. boroughs.

But the hotel project never got off the ground, and after the city council passed a measure last December requiring developers to obtain special permits before building new hotels, Toyoko Inn put the property on the market in January, hoping to get around $60 million. .

A CBRE team led by Dan Kaplan represented the Toyoko Inn in the sale to Tavros and Charney, which secured a contract in May. Work on the joint venture apartment tower has already begun: the project was eligible for the 421a tax relief because the foundation work was carried out before the tax relief expired in June, the developers said .

Tavros and Charney have experience teaming up on projects. In January, the companies paid Property Markets Group $102 million for a full site at 318 Nevins Street in a recently rezoned area of ​​Gowanus, where they plan a 660-unit apartment building.

The partners also co-developed the 177-unit Dime rental building in Williamsburg and the 56-unit condominium building dubbed the Jackson at 11-51 47th Avenue in Long Island City.


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