News
LIC Resi Tower Will be Tallest in City Outside Manhattan
March 30, 2015
PMG and the Hakim Organization’s 77-story residential tower in LIC will be the tallest building in the five boroughs outside of Manhattan. A new rendering shows it pretty much swallowing the historic Long Island City Clock Tower, which was the tallest building in Queens as recently as 1990. A process aiming to make the Clock Tower an official landmark launched last week, reports the NY Times. Land and air rights bought from the tower, first built in 1909, and the MTA mean the building can be double the 38 stories zoning it would otherwise have allowed. The deal went through last week to the tune of $56M—a cool $10M more than the developers paid for the land last year. [NYT]
