Rosenberg & Estis, P.C., currently celebrating its 50th year as one of New York City’s pre-eminent real estate law firms, announced that the firm has secured a rezoning that will permit the development of a new five-story, 35-unit apartment property at 31-17 12th St. in Astoria, Queens.
Frank E. Chaney, Counsel with R&E’s Transactional Department, represented property owner 31-17-19 IZ, LLC, in securing the rezoning.
Currently occupied by a two-story house and several one-story garages and commercial buildings, 31-17 12th St. was previously zoned R5B for low-rise development. The amendment to R6B permits medium density multifamily development and includes a Mandatory Inclusionary Housing (MIH) requirement to designate nine of the 35 units as affordable to low-income families.
Said Chaney, “We are pleased to secure this rezoning, which enables our client to either develop the site or sell it with approved plans. While the ultimate development may differ slightly, our work ensures that newzoning regulations are applied to the site and comply with affordable housing requirements.”
“Rosenberg & Estis’s expertise and strategic approach to this process was both efficient and successful. Thanks to Mr. Chaney’shard work, we are now positioned to move forward with our plans and to realize the full potential of our property,” said ownership spokesman, Demetrios Droggitis.
The zoning amendment follows a more than two-year ULURP (Uniform Land Use Review Procedure) and other review processes that the city has been attempting to streamline as it seeks to add more affordable housing in New York.
According to Chaney, the current system is ill-equipped to meet demand and he has welcomed recent advances, including “Green Fast Track,” a streamlined environmental review process, and the “City of Yes” zoning amendments to accelerate the production of small-and medium-sized “missing middle” housing projects across New York City. Those programs are part of the administration’s “Get Stuff Built” plan to cut red tape and remove bureaucratic obstacles to achieving the city’s housing and climate goals.
Added Chaney, “As a firm deeply experienced in zoning and land use law, we understand the complexities involved in bringing projects from vision to reality within regulatory frameworks. A more than two-year process for a small, 35 apartment project highlights the outdated and overly complex nature of current procedures and we are hopeful that new initiatives being pursued by the current administration can accelerate the development of much-needed housing.”
About Rosenberg & Estis, P.C.
Founded in 1975, Rosenberg & Estis, P.C. is widely recognized as one of New York City’s pre-eminent real estate law firms. R&E provides full-service representation and advice in every aspect of real estate, from performing due diligence and evaluating financing, to handling joint ventures, acquisitions and leasing, construction and design team agreements, property tax exemptions and abatements, land use and zoning matters, Real Property Income & Expense (RPIE) filings, real estate tax certiorari, co-op and condo offering plan filings and board representation, distressed situations workouts, foreclosures and bankruptcies, trust and estate planning, as well as the litigations and negotiations which sometimes ensue when deal-making. R&E’s wealth of experience in New York real estate makes it the ideal thought partner for owners, developers, not-for-profit corporations, educational institutions, sponsors, equity investors and lenders in both real estate transactions and in all court venues.
