$58.5M condo plan filed for Woodside, averages $1.2M per unit

On November 27, a condominium plan for a building with 47 residential units and 14 commercial units at 31-19 56th Street in Woodside was submitted to the New York State Attorney General. Cheung Kiu is listed as the principal of sponsor for the development, which has a sellout price of $58.5 million. That comes to an average of more than $1.2 million per apartment. That’s above the average new development recorded condo price in Queens over the past year, of $800,000, according to PincusCo figures.

Cheung Kiu purchased the property for $3.8 million in 2005. On February 15, 2017, Kiu filed plans calling for the construction of a 40-foot tall, four-story, 66,193-square-foot mixed-use building with 47 dwelling units on the property.

According to the plans, the building will have 41,383-square-feet of residential space, 17,552-square-feet of commercial space, and 7,258-square-feet of community space.

The ground floor of the building will have a residential lobby, beauty parlor, laundry establishment, commercial lobby, general store, and daycare for ages two to six years old. The second floor will have 10 dwelling units, a rooftop recreation area, and a health treatment center. The third floor will have 19 dwelling units, while the fourth floor will have 18 dwelling units.

Angelo Ng & Anthony Ng Architects Studio is listed as the architect.