Phase I Buildings Top Out At Flushing Commons In Queens

A major milestone was recently reached by a 1.8-million-square-foot mixed-use development under construction in downtown Flushing, Queens.

The two buildings that represent Phase I of Flushing Commons topped out on March 18. That includes a 14-story residential condominium building at 138-35 39th Avenue and an 11-story office condominium building at 38-18 Union Street.

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Flushing Commons’ First Phase Tops Out

(Queens Tribune) The Flushing Commons development celebrated a milestone in its construction with a dramatic topping off ceremony held on the windswept upper level of the former Municipal Lot #1 in Flushing on Friday.

Community leaders and local media watched a giant crane lift a gold-painted beam far up into the sky and onto to the construction site, marking the moment when Phase I of project reached full height.

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Flushing Commons project topped off

(Queens Chronicle) The last beam has been placed on Flushing Commons, topping off the 1.8-million-square-foot mixed-use complex in downtown Flushing.

“This is a major, major milestone for not only our project but for Flushing, and I want to start by recognizing many of the people that we’ve gathered here today,” Michael Meyer, the president of the F&T Group development company, said at a ceremony for the milestone. “It’s a large group and we’re really quite honored to have many of you here.”

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First phase of Flushing Commons reaches full height

(Queens Ledger) A major development in Flushing that has been a decade in the making reached a significant milestone on Friday.

Developers and community leaders watched as construction workers put the final beam in place on top of phase one of Flushing Commons, a major mixed-use development rising on the former site of Municipal Lot 1 at 39th and Union avenues.

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Flushing Commons Complex Reaches New Heights

(NY1) A major real estate project reaches new heights in its construction.

The Flushing Commons complex developers finished the first phase of development Friday.

The final beam was placed on two high-rise buildings which stand at 14 and ten stories tall each.

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How Flushing is becoming Queens’ must-buy ‘hood

(New York Post) Amid the crush of Main Street in Flushing, Queens — a highly trafficked strip considered by locals as one of the neighborhood’s main arteries — the sounds of active construction from nearby developments add a buzzing pitch.

Yet as buzzy as it may be, the area’s volume is likely to rise even further as a slate of new area projects come into the pipeline.

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Flushing Commons Developers: Project Already an “Uncommon Success”

(Queens Tribune) Roughly a year before phase one of the transformative Flushing Commons residential and commercial mega-project is set to be complete, the developers are characterizing it as an “uncommon success.”

An October press release from the F & T Group, the Rockefeller Group and AECOM Capital, who joined forces to get the often delayed development off the ground, said that more than 50 percent of the office and condominium units landed in contract within one month of an early September 2015 sales launch. “Prospective buyers have recognized the huge opportunity in front of them,” said Helen Lee, executive vice president of F & T Group, who oversees marketing and sales for Flushing Commons. “We have spent years researching what our buyers are seeking in a luxury product, and we believe these strong sales show that Flushing Commons has exceeded their expectations.”

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A Queen’s ransom: The priciest new Queens developments by total sellout

(The Real Deal) Though nowhere near the stratospheric prices seen in Manhattan, new projects in Queens with residential components are making their mark.

Flushing Commons, with a projected sellout of $386 million, is the most expensive new project in the borough, according to an analysis by The Real Deal. The project, with 148 apartment units, appears to be the priciest offering in the borough since at least 2000. Phase one of the condominium, which is being developed by F & T Group, The Rockefeller Group and AECOM Capital, broke ground in 2014. The development will also feature 75 office condos priced from $1.38 million to over $4 million.

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NEW DEVELOPMENT

(Real Estate Weekly) On the heels of announcing that more than 50 percent of the office condominium units in Phase I of Flushing Commons have gone into contract, developers F & T Group, The Rockefeller Group and AECOM Capital announced that 50 percent of the condominiums in the 148-unit residential building being developed in Phase I also went into contract less than a month after sales officially launched.

The two buildings are part of Phase I of the 1.8-million-square-foot, transit-oriented, mixed-use development, set to include residential, office, retail, parking and community space, as well as the first open-air public space in Downtown Flushing.

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