For the last several years, Kaufman Astoria Studios, Silverstein Properties and Bedrock Real Estate Partners have slowly accumulated warehouses, retail buildings and parking lots along 35th Avenue in Astoria, Queens, where the Kaufman family has operated its film studio and movie theater for decades.
Now, a year after two real estate investment firms, Hackman Capital and Square Mile Capital, took over Kaufman Astoria, the ownership group faces a bruising rezoning fight over five industrial blocks along 35th Avenue near Sunnyside Yards. The new owners of Kaufman Astoria and their partners hope to redevelop most of the land into 2,800 apartments, 540,000 square feet of office and retail, and 107,000 square feet of community facilities. The developers have also promised to build eight public open spaces, a movie theater, a supermarket and a gallery for the Museum of the Moving Image, which is located across 35th Avenue.
Read full article here: https://commercialobserver.com/2022/10/astorias-giant-innovation-qns-development-hinges-on-who-pays-for-affordable-housing/
