Meshulem Twersky of Metrocap Partners submitted an application to change the zoning at 30-11 12th Street, in Astoria, Queens, in order to build an 86-unit, 62,761-square-foot, mixed-use building. The application would also impact 17 additional tax lots nearby, and the application suggests four of those could be redeveloped because of this application.

The application calls for a  rezoning from R6B, R5B, and R4-1 to an R6A with a C2-3 commercial overlay, and zoning text amendment to ZR Appendix F to establish a Mandatory Inclusionary Housing (MIH) Area with MIH Options 1 and 2. This would facilitate a new eight-story mixed-use building with 62,761 square feet, including 58,172 square feet of residential floor area with 86 dwelling units, and 7,794 sf of retail floor area. Twersky filed through the entity 30-11 12th Street Realty LLC.

According to the filing, “In addition to the project site at 30-11 12th Street, the proposed action would encompass Block 515, Lots 25, 27, 28, 29, and p/o Lots 8, 9, 10, 11, 12, 13, 14 and 31 and Block 506, Lots 1, 3, 5, and (p/o) 6 and 67 (the “Rezoning Area”), providing a rational zoning district boundary with a continuous depth of of 200 feet from 30th Avenue. Together the entirety of the 18 lots identified within the rezoning area compose the “Project Area.” The Project Area extends beyond the Rezoning Area to include the entirety of the 18 lots (not just the portions of lots to be rezoned) as the entirety of this area could potentially be affected by the Proposed Actions and is considered for environmental analysis purposes… , the Proposed Actions would also facilitate development on four other (non-applicant controlled) projected development sites in the Rezoning Area, including Block 515, Lots 25, 27, 28, and 29, and Block 506, Lot 1.” LINK

Property

The 30-11 12th Street parcel has frontage of 199 feet and is 100 feet deep with a total lot size of 17,350 square feet. The lot is irregular. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.9 million.The most recent loan totaled $6 million and was provided by New York Community Bank on June 30, 2022.

On this tax block, PincusCo has identified the owners of three of the 11 commercial properties representing 48,296 square feet of the 80,149 square feet. The largest owner is Fozan Pirzada, followed by Anand Jailall and then BLD Developers. There are four active new building construction projects totaling 58,436 square feet. The largest is a 38-unit, 31,743-square-foot R-2 building developed by Antonios Fiorentinos with plans filed November 13, 2015 and it has not been permitted yet.The second largest is a 15-unit, 14,802-square-foot R-2 building developed by Michael Tsoumpas with plans filed March 27, 2020 and permitted July 19, 2022.

Antonios Fiorentinos of 30-11 REALTY LLC submitted a new building construction project for a 38-unit, 31,743-square-foot R-2 building at 30-11 12th Street. The plan was filed on November 13, 2015. It calls for the construction of a 50-foot-tall, five-story building and was filed with the New York City Department of Buildings under job number 421236932.

Over the past five years, there have been two NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There has been one new building permit application Those plans include a total of 6 residential or hotel units.

Within a 400-foot radius of 30-09 12 Street, Pincusco identified five commercial real estate items of interests occurred over the past 24 months. Of those five items, one was in new building development. It was a new building permit issued on July 19, 2022 for a 14,802-square-foot R-2 building with 15 residential units at 12-16 30th Avenue. One of those five items was a sale which Fozan Pirzada bought the 39,745-square-foot, 37-unit rental (D1) on 12-26 30th Avenue for $14.8 million from David Lubinitsky on January 14, 2021. Of those five items, three were loans above $5 million totaling $37.2 million. The most recent of the three was BLD Developers which borrowed $7.5 million from Colorado Federal Savings Bank secured by the 4,237-square-foot, one-unit industrial (F5) on 12-16 30th Avenue on March 31, 2022.