Purves Street Development Site Sells for a Massive Profit

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    More action to report on Purves Street, one of the most interesting blocks of development in all of Long Island City. The vacant lot at 4418-4422 Purves Street recently hit public records for the very large sum of $21,085,841. This same lot sold last summer for the significantly smaller sum of $4,121,000. The new buyer is hiding behind “Purves Development LLC” but the listed address is 42-22 22nd Street — the address of Silvercup Studios. What could possibly be happening at this lot, and how is Silvercup involved? According to Department of Building records, there aren’t any building applications or permits for this site. We’ve reached out to Silvercup Studios, but as always if you have any intel please head over to our tipline.

    Since this lot sold last summer for $4,121,000, construction started up on the 22-story residential tower at 4435-4451 Purves Street across the street. Also chugging along on the block, the SculptureCenter expansion.

    Checking in on Purves Street, Possibly the Most Active Block of Development in the City! [Q’Stoner] GMAP

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