"Developer gets demolition permits, condo building on track"

A small building located at 11-51 47th Avenue is about to be demolished to make way for an 11 story condo complex.

An application filed with the Department of Buildings to raze the structure was approved Tuesday.

The small building will be replaced by a 54 unit condo development. Half the units will be one-bedrooms and the remainder being two and three bedroom units. There will be about 1,280 square feet of ground floor retail space.

The building will sit at the intersection of 21st Street, 47th Avenue and Jackson Avenue. It will be developed by Charney Construction & Development and Ascent Developments—two Long Island City firms. "Condos Coming to NYC’s Long Island City After Rental Boom"

After nine years of working on apartment developments in New York’s red-hot Brooklyn, Sam Charney has moved on to a new mission, in a different borough.

Charney, with partner Ascent Development, is building condominiums in the rental-saturated neighborhood of Long Island City in Queens, on a wager that the area is starved for for-sale housing. The team is completing a three-unit building on 47th Road and plans to build a 54-condo tower about three blocks away, encouraged by a growing pool of potential buyers.


The "Even more condos planned for Long Island City"

The "Even more condos planned for Long Island City"

With Long Island City land prices blowing up and the neighborhood’s demographics shifting to an older, more monied crowd, developers are increasingly considering condo development in this area dominated by rental apartments. Developer Sam Charney, who is building condos in the neighborhood with partner Ascent Development, said: “We witnessed this neighborhood go from a renter’s neighborhood where people who couldn’t afford to be in Manhattan moved here in their mid-20s… Now they’re in their mid-30s, having children, and they’ve saved up a little money,” according to Bloomberg. - See more at:

Read More