By Atticus O’Brien-Pappalardo
Since the start of 2019, Long Island City has been the most active neighborhood in the entire city for development of new dwelling units. During that time there have been over 82 new building plans filed, calling for the construction of over 8,750 dwelling units in the neighborhood. PincusCo took a look into those plans to find out who is behind multiple projects, and rank the most active developers in the neighborhood.
Recently, PincusCo has looked at plans filed in both Williamsburg and Bedford-Stuyvesant during the same period.
PincusCo looked at all new building plans filed in Long Island City since January 1, 2019, that called for the construction of a building that was at least 2,000-square-feet in size. The analysis removed all projects marked as withdrawn.
The analysis found that there have been 13 developers who have been responsible for more than one project during the time span examined.
BK Developers was behind the most new building plans during the period examined with five, while Werwaiss Properties filed the second most plans with four.
BK Developers five plans combined to call for the construction of 25 dwelling units. The largest plans called for the construction of six dwelling units at 50-07 5th Street.
Werwaiss Properties’ four plans combined to call for the construction of 397 dwelling units. The largest plans called for the construction of a 240-unit, 163,147-square-foot building at 23-02 42nd Road in Long Island City. Werwaiss Properties is a multi-generational, family-owned real estate management and development company based in Long Island City.
Below are zoning diagrams of the 23-02 42nd Road development.
There were 11 other developers who filed plans for two development plans in the neighborhood.
TF Cornerstone was behind the most dwelling units and the most square feet of new construction filed for during the time looked at. The developer filed two new building plans which called for the construction of 1,387 dwelling units and over 1.2 million square feet of new construction.
The developer’s plans for the construction of a 812-unit, 723,731-square-foot mixed-use building at 2-10 54th Avenue called for the second most dwelling units in the entire borough since the start of 2019.
Gotham Organization filed plans for the construction of second most dwelling units and new construction. The developer filed two new building plans, for developments at 1-15 57 Avenue and 57-28 2nd Street, in March of 2019 which called for the construction of 1,132 dwelling units.
BLDG Management filed plans for the most dwelling units in a single building when the developer filed plans for an 818-unit, 650,090-square-foot mixed-use building at 42-02 Orchard Street.