Northern Boulevard Parcel Sells for $54 Million with Plans in Place for Rental Tower

Simon Baron Development snatched up the LIC development site at 29-26 Northern Boulevard, right off 41st Avenue. The Real Deal reports that they bought it from the Rabsky Group for around $54,000,000, who paid $35,000,000 for the site last fall. The parcel accommodates 400,000 buildable square feet. The Rabsky Group already moved forward on developing a 44-story, 400-unit rental development and it looks likely Simon Baron Development will follow through on those plans. The planned development also includes parking, a pool, roof deck, bike storage and an exercise room.

Simon Baron to Buy LIC Development Site for $54M [TRD]
Big Tower Planned for Northern Boulevard [Q’Stoner] GMAP