Construction is in full swing on 30-77 Vernon Boulevard, a new development which will bring more than 500 new rental apartments to the Astoria waterfront. Renderings of the design by Fogarty Finger show three adjacent buildings spanning two and a half acres of land, and a recent site visit shows that construction is now two stories aboveground.
Construction progress circa September 2020 via CityRealty
The project is a joint venture between Cape Advisors and Wainbridge Capital, and the first outer-borough project for Cape Advisors. In a recent interview with Commercial Observer, Cape Advisors founder and CEO Craig Wood expressed optimism about New York overall, adding, "This pandemic has opened a lot of people’s eyes to how great locations like Astoria really are." The developers signed up the financing well before the pandemic hit, and recently closed on the construction loan.
Aerial view; rendering by Pax Brooklyn, courtesy of Fogarty Finger
In addition to the rooftop pool and recreation areas seen in the renderings, residential amenities will include an inner courtyard, an indoor/outdoor lounge, and a fitness center. Thirty percent of units will be affordable, and the size of the windows in all units promises incredible light and unobstructed river and skyline views. Completion is estimated for 2021.
"Astoria has been a great neighborhood for years, and we believe it'll continue to evolve that way." - Craig Wood, Founder and CEO, Cape Advisors
The site is catty-corner to both the Socrates Sculpture Garden and the new Astoria ferry stop. It also takes place amidst a building boomlet. The site is down the street from Graffiti House, an award-winning rental offering a collection of one-bedrooms and an abundance of amenities. The Durst Organization chose the area for 10 Halletts Point, its first project outside of Manhattan, and the building is currently offering up to five months free rent.
On the sales front, plans are underway for a mixed-use condominium one block from this project at 30-55 Vernon Boulevard. Sales launched on 38 converted cooperative units at Astoria Lights last summer, and a small handful of availabilities starts at $569K. Sales at Anchor House got off to a brisk start at the beginning of last year.
On the sales front, plans are underway for a mixed-use condominium one block from this project at 30-55 Vernon Boulevard. Sales launched on 38 converted cooperative units at Astoria Lights last summer, and a small handful of availabilities starts at $569K. Sales at Anchor House got off to a brisk start at the beginning of last year.
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