24-19 Jackson Avenue
Update
08/11/22
LIC Development Site Trades for $68.32M
A vacant development site, located at 24-19 Jackson Avenue in Long Island City, Queens, has just been sold for $68.32 million. It was purchased by project developer, Tavros Capital, from a Japanese hotel operator, known as Toyoko Inn, in a deal brokered by CBRE.
Bordered by Jackson Avenue and 23rd Street, the irregularly shaped lot measures square feet, and offers a considerable building potential of up to 267,000 square feet.
Back in September of 2016, Toyoko Inn had filed permits for a 50-story hotel tower, with over 1,250 rooms. Clearly, that project has fallen by the wayside, and it seems very unlikely that Tavros will resurrect those plans in favor of its own. On a somewhat related note, Tavros is also working on a separate, 50-story tower project, directly next door, at 45-03 23rd Street (shown at the top, below).
