Astoria Development Site at 11-12 30th Drive Has Asking Price of $60 Million

We’ve learned from Crain’s that the development site at 11-12 30th Drive is on the market for a cool $60 million. This is very near the waterfront in between Socrates Sculpture Park and the Astoria Houses. It sounds like a new residential building that would inevitably occupy this land could be as much as 460,000 square feet in a maximum of 10 stories.

And yes, it’s near the Hallets Point peninsula, home two familiar mega-developments in progress:

The site is near another large prospective residential development in Astoria. The firm Alma Realty is in the process of trying to secure approvals from the city to build a huge residential complex with 1,700 apartments in Astoria Cove. Close by, New Jersey-based developer Lincoln Equities Group’s plan to build a $1 billion residential project at Hallets Point with about 2,000 rental units, shops, restaurants, an esplanade and a park began its six-month public review process in April.

Currently the one story industrial warehouse is home to Bohea Associates, a grocery wholesaler. Back in 1999 the property was home to POP Displays, a plastics factory where a “spectacular fire” broke out. It was apparently really something, according to a NY Daily News article from the time:

Fire officials said the fire fed off drums of motor oil and plastics in the yard. Within minutes, the blaze detonated two propane tanks and threatened the building next door. Panicked women ran out of the building carrying babies, and frightened residents fled with only the clothes on their backs. Residents of all 20 apartments in the building were left homeless by the fire.

Big waterfront site in Queens hits market at $60M [Crain’s]