Ravi Patel files plans for 20 units in Long Island City

Ravi Patel submitted a new building construction project for a 20-unit, 16,600 square-foot residential (R-2) building at 33-10 38th Avenue in Long Island City, Queens. The plan was filed with the New York City Department of Buildings on April 14, 2023 under job number Q08043398. It calls for the construction of a 70-story building. The project is described in the filing as: proposed seven-story mixed-use building with 20 dwelling units. The architect is Gerald Caliendo Architects.

The property

The two parcels at 33-08 and 33-10 38th Avenue has frontage of 48 feet and is 95 feet deep with a total lot size of 4,600 square feet. The lot is irregular. The zoning is M1-2/R6A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 3 times FAR for residential with inclusionary housing.

Prior sales and revenue

One of the properties was purchased for $1.6 million on April 18, 2017.

Violations and lawsuits

According to city public data, the property has received $1,550 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Long Island City, The bulk, or 32 percent of the 60.1 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 31 percent of the space. In sales, Long Island City has the 9th highest sale turnover among other neighborhoods in the city with $1.7 billion in sales volume in the last two years. For development, Long Island City is the 4th most active neighborhood among other neighborhoods. It had 8.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 15 percent of the neighborhood’s built space.

The block

On the tax block, there were two new building construction projects totaling 33,324 square feet. The largest is a 20-unit, 16,724 square-foot residential (R-2) building submitted by Ravi Patel with plans filed July 19, 2018 and it has not been permitted yet. The second largest is a 20-unit, 16,600 square-foot residential (R-2) building submitted by Ravi Patel and filed by Ravi Patel with plans filed April 14, 2023 and it has not been permitted yet.

The owner

The owners according to the Department of Housing Preservation and Development includes Baldevbhai Patel, head officer and Ravi Patel, officer. The business entity is 38 Lic Llc.

The surrounding

Within a 400-foot radius of 33-10 38 Avenue, PincusCo identified six commercial real estate items of interests occurred over the past 24 months. Of those six items, one was in new building development. It was a new building permit application filed on March 11, 2022 for a 31,755-square-foot residential (R-2) building with 41 residential units at 38-38 32nd Street. Of those six items, two were sales above $5 million totaling $30.3 million. The most recent of the two was Aidi Xu which bought the 22,549-square-foot, 21-unit rental (D6) on 32-04 38th Avenue for $11.2 million from Arun Agarwal and Rachita Agarwal on July 25, 2022. Of those six items, three were loans above $5 million totaling $105.1 million. The most recent of the three was Century Development Group in which borrowed $25.3 million from MidFirst Bank secured by the 11,620-square-foot development site (V1) on 37-24 33rd Street on August 17, 2022.

Direct link to the property’s ACRIS page and link to DOB NOW portal.