Triangle Equities completes nine-story, 28,546 s/f mixed-use development project in Flushing, Queens

According to Triangle Equities, construction has been completed at its 28,546 s/f, nine-story mixed residential and office condominium building at 42-05 Parsons Blvd. located in the Flushing neighborhood. The building is comprised of 14 residential condominiums - 90% of which have been sold to date - and five office condominiums that make up a community facility, which is currently available for sale. "We purchased a non-performing note collateralized by the building in 2011, which had been 85% complete," said Brett Goldman, director of acquisitions of Triangle Equities. "After going through the foreclosure process, we ultimately obtained control of the asset and are thrilled to be able to offer brand new luxury housing and office space to the surrounding community." 42-05 Parsons Blvd. offers on-site parking for both office tenants and residents and a full floor of community space. The all glass and panel façade allows for spectacular panoramic views of the Manhattan and Long Island skylines and was built by renowned architect Raymond Chan. The building is in a prime location, enjoying close proximity to La Guardia Airport and the LIRR to Midtown Manhattan and within walking distance to the downtown Flushing area. The lower-level of the building is being offered as a community facility space, totaling 6,755 s/f but comprised of five separate units. This space will be sold vacant and features 13-foot ceilings, a separate elevator and staircase, as well as a private glassed entryway. Additionally, the community facility qualifies for a 15-year ICIP Tax Abatement through 2022. The top seven floors of the building offer 14 two-bedroom/bathroom residential condominiums, with two penthouse units, both with three bedrooms and bathrooms, on the eighth and ninth floors. Each unit - ranging in price from $550,000 to over $1 million - boasts wide plank dark chocolate solid oak hardwood floors, private balconies/terraces, a video intercom entry system, walk-in closets, and stacked Whirlpool washer/dryers. All bathrooms are adorned floor-to-ceiling in Ceramic American Olean tile and the fixtures are by Kohler. Kitchens feature white Neo-Paris countertops and are furnished with GE Profile Stainless Steel appliances and dishwashers, and externally-ducted range ventilation hoods. Block & Lot Real Estate & Management, Inc. is representing ownership in all residential sales and Cushman & Wakefield (formerly Massey Knakal Realty Services) is handling the sale of the community facility space.