Business & Real Estate In
Flushing
Flushing NY is located in northcentral Queens. Flushing is commutable via the #7 subway line. Flushing has a population of about 215,000 which is comprised primarily of Chinese and Koreans, as well as European descendants, Indians, Latin Americans and African Americans.
Flushing is home to a number of Queens landmarks, some of which are located in the historic district and others in the Flushing Corona Park. Flushing's Main Street and side streets offer a colorful street market experience for both food and other items. And Northern Blvd is also home to a number of businesses.
- CLICK here to read our section on Flushing real estate in Queens NYC.
Michael Bloomberg's Real Record as NYC Mayor
This Contains the Part of Bloomberg's Record You Won't See in His Ad Campaign
December 16, 2019 / NYC Neighborhoods / NYC Politics & Government / News Analysis & Opinion / Gotham Buzz NYC.
I started reporting for Queens Buzz in the second half of 2007, in anticipation of the website opening in 2008. At the time, politics wasn't in the docket. But over time, as I watched government and political events unfold, I couldn't ignore the huge gap between what was happening - versus what was reported to be happening.
Thus over time I began reporting on NYC, NYS and eventually national politics, doing in-depth research along the way, so that I could provide our readers with a fresh point of view, based on facts and knowledge, with scant pandering to the politicial spin.
While I only began tuning into NYC politics as a reporter during Michael Bloomberg's third term, I had picked up information about him prior to that as an aware NYC resident / voter. My first glimpse into Republican Mayor Michael Bloomberg's anti-democratic tendencies came about in 2004, during the Republican Presidential Convention, when Bloomberg appeared to illegally lock up people protesting the wars and policies of then president George W. Bush. But before I delve into that aspect of Bloomberg's performance, I want to highlight a few others.
Disdains Democracy: Overturns Mayoral Term Limits
In 2008, just a year before former Mayor Michael Bloomberg was about to be term limited out of the Mayor's Office, he convinced the NYC City Council to override the plebiscite that term limited his time in office as the Mayor.
Thus Michael Bloomberg sought and won a third term - which he essentially bought - by funding his campaign with nearly $100 million of his own money, to defeat an relatively unknown candidate, retiring City Comptroller Bill Thompson.
Thompson was not given much support by the Democratic Party in that election, likely because they didn't believe he would do anywhere near as well as he did, and they were competing with a billionaire who could / would and did greatly outspend the competition. The final vote was 50.7% for Bloomberg and 46.3% for Thompson.
Did Former Mayor Bloomberg Override Term Limits in Order to Cash In NYC's Municipal Real Estate Holdings?
The deals on the Bronx Terminal Market, Hudson Yard, Hunters Point South & Flushing Meadow Corona Park were all begun in 2007. So were the two multi-billion dollar [each] subway line extension projects - the Q and the #7.
All of the real estate developments and the two major subway infrastructure projects seemed to greatly benefit one person - Stephen Ross and his privately held Related Companies. Stephen Ross went from not being counted as a billionaire at the beginning of Bloomberg's Mayoralty, to becoming the richest real estate developer in New York City within a couple of years after he took office.
It's worth noting that Bloomberg's net worth during this period shot up too. And that Bloomberg LLP, the company he founded, also operates in NYC and is also privately held.
Former Mayor Michael Bloomberg's Real Record as Mayor
The Real Record of Mike Bloomberg's Accomplishments as Mayor - Doubling of Homelessnes, Taxpayer Funded but Privately Owned Luxury Apartments, Massive Public Land Giveaways to Friendly Developer, Massive Public Transit Spending Benefitting Same Developer, Privatization / Profitization of Many Public Schools, Failure to Negotiate with Unions, City Time Scandal & Racist Stop N' Frisk Policing Program
The report includes:
1) HOMELESSNESS: Bloomberg had a horrendous record on homelessness which broke all records & doubled during his Mayoralty.
2) AFFORDABLE HOUSING: Bloomberg sold the public on funding 'affordable' apartments that rented for $48,000 per year. These were publicly funded but privately owned apartment units that Bloomberg sold to the public as 'affordable' in order to gain passage of the bills authorizing them.
3) PUBLIC LAND GRAB. Four huge real estate developments appeared to be given to Stephen Ross & Related Companies which are now worth billions. The public lands reportedly sold for $1 apiece include Hudson Yard, Hunters Point South and the still pending Flushing Meadows Corona Park development. I'm not sure but Bronx Terminal was also transferred in a sweet deal to the real estate developer Stephen Ross & Related Companies.
4) PUBLIC SPENDING BENEFITTING FRIENDLY DEVELOPER. Bloomberg pushed two subway line extensions that seemed to disproportionately benefit Stephen Ross & Related Companies. The subway line extensions were 1) the #7 subway line extension that supported Stephen Ross & Related Companies Hudson Yard development and 2) the Q subway line extension which greatly enhanced the value of Stephen Ross and Related Companies Upper East Side properties.
5) PRIVATIZATION OF PUBLIC SCHOOLS. Bloomberg's privatization of a significant portion of the NYC public school system which appeared to tear apart the NYC public school system by enabling for profit private charter schools, disproportionately favoring Eva Moskowitz and Success Academy, to recruit the best students of the NYC public school system, while leaving the rest behind in the hands of the public and unions;
6) UNION BUSTER? Bloomberg's failure to sign a single major union contract during his 12 year administration and the
7) GIULIANI / BLOOMBERG CORRUPTION. City Time corruption scandal.
8) RACIST POLICING POLICY. Presided over racist Stop N' Frisk policing policy.
CLICK here to read the rest of our report on the part of the Mike Bloomberg's record of Mayor. The part of the Bloomberg record you won't see in his $33 million ad campaign to convince Democrats to vote for him. Billionaire Bloomberg, like the billionaire President, seems to have an inclination to distort the truth.
Sterling Equities & Related Companies Lose A Court Battle
Plans to Build Shopping Mall on Flushing Meadows Corona Park Land Reversed on Appeal, but Legal Wrangling will Continue
July 6, 2015 / Flushing Neighborhood / Queens Real Estate / / News Analysis & Opinion / Queens Buzz. This report is based on an Associated Press report dated July 2, 2015 and a Queens Tribune story dated August 28, 2014.
In August of 2014, New York State Supreme Court Judge Manuel Mendez decided in favor of Related Companies / Sterling Equities by throwing out a lawsuit filed by the City Club of New York and NYS Senator Tony Avella.
The plaintiffs alleged that billionaire Stephen Ross's Related Companies, the real estate developers of Hunters Point South and the Hudson Yards, and the Sterling Equities which was co-founded by the NY Mets owners, mega-millionaires Saul B. Katz and Fred Wilpon, had not gone through the NYS legislature for the approval of the transfer of the parkland as required by law.
The lawsuit, filed in February 2014, alleged that the transfer of 47 acres of Flushing Meadows Corona Park land that currently represents the western part of the Mets parking lot, was done without following the procedure for a proper public review [see photo above right]. The City had proposed transferring the 47 acres to Related Companies / Sterling Equities who had planned to build a 1.4 million square foot shopping mall next to Citifield.
The NY City Council and the billionaire former Mayor Bloomberg approved the project in October 2013, but the proposal never went to Albany for a vote. According to the Queens Tribune report one of the plaintiffs said that the Judge Manuel Mendez's ruling goes against the Public Trust Doctrine, ignores longstanding case law history, and bestows too much power that was formerly the purview of the Board of Estimate in one person: the NYC Mayor.
On Thursday, July 2nd, 2015, the four-judge Appellate Court overturned Judge Mendez's decision and ruled that the Willets West Mall Project was illegal because the land is a part of Flushing Meadows Corona Park, in spite of its current paved over status as a parking lot [see 2009 photo above].
And because it is a part of the public parkland of the people, it may not be turned over to the real estate developers without approval of the NY State Legislature. The judges rejected the ruling in favor of the mall development made by Judge Manuel Mendez, wherein Mendez sided with the wealthy real estate developers who argued that the 54 year old, 1961 law authorizing the construction of Shea Stadium, also included a mall.
The photo above shows the Citifield parking lot in 2009, as it was being paved over following the demolition of Shea Stadium which was authorized in 1961. The new Citifield stadium built to replace Shea, is smaller.
According to the Associated Press report, a spokesman for the real estate developers said that they would appeal the decision.
Willets Point - Flushing Real Estate
Real Estate In Flushing - Willets Point
April 14, 2011 / Flushing Neighborhood / Flushing Real Estate / Queens Buzz. This winter I attended the State of the Borough Address given by Queens Borough president Helen Marshall and a month later I attended a speech given by NYC deputy mayor of economic development, Robert K. Steel. This report captures their brief comments about Willets Point condominium and retail development project, as well as a considerable amount of research I did following those two presentations.
In the following report we provide you with a history of the effort to transform the Willets Point area and an outline of the proposed plans and including a detailing of some of the issues associated with the proposed development. A graphical depiction of the Willets Point development is shown above.
Click here to read more about Willets Point real estate development project - controversy in Flushing Queens. Story & photos by Michael Wood.
Real Estate In Flushing - Development
Real Estate In Flushing
Real Estate Development In Flushing Continues
April 14, 2011 / Flushing Neighborhood / Real Estate Development In Flushing / Queens Buzz. This winter I attended the state of the borough address given by Queens Borough president Helen Marshall and another given by NYC deputy mayor of economic development, Robert K. Steel. This report captures some of their comments about Flushing Commons condominium and retail complex which is a large-scale real estate development projects in Queens. The graphic shown to your right is a depiction of the Flushing Commons when it is completed.
Following their speeches, we did some investigation and research to find out more about this and other Flushing real estate development projects. The Flushing Commons retail and condominium project begins in 2011 and is expected to be completed by 2013. Advocates of the project hail the addition of new facilities, while detractors question whether the city has made sufficient provision for infrastructure in an area that is one of the most traversed outside of Manhattan.
Click here to read more about real estate development in Flushing Queens.
Real Estate In Flushing
Real Estate Development In Flushing Continues
April 14, 2011 / Flushing Real Estate / Queens Real Estate / Queens Buzz. Continued / If needed use the search function to find the story introduction
Flushing Real Estate Market Still Vibrant
Flushing resembles Long Island City a few years ago, when it comes to real estate development projects. In the past decade, the Flushing real estate market has boomed, and in spite of the economic downturn, real estate prices in the Flushing market have remained relatively stable. Part of the explanation for this price stability may be the futuristic expectations associated with some of the large-scale real estate development projects that are about to begin such as the Flushing Commons and Willets Point developments. In the photo to your left in the background on the left stands the Queens Crossing mall.
The demographic mix may also be a factor in supporting the Flushing real estate market, as over half of the neighborhood is of Asian descent, many of whose families originally came from China or Korea. As you know, China and Korea are some of a handful of countries that currently have large financial surpluses - and it's possible that some of those surpluses are making its way into America via Flushing.
Brief History Of Flushing Real Estate Development
One of the first large buildings to be erected in Flushing was the Sheraton LaGuardia in 1992. The erection of this building was followed by a decade long lull before the Queens Crossing retail and office space building opened at 39th Avenue and Main Street in 2007 - 2008.
The erection of the Queens Crossing retail complex was followed less than two years later in 2009 - 2010 by the opening of the Skyview Center retail space and the Skyview Parc residential space which are located at Roosevelt and College Point Boulevard. Queens Crossing was developed by TDC [more information provided below] while the Skyview Center and Skyview Parc building(s) were developed by Muss Development LLC of Forest Hills. In the photo to your right are the Skyview Center and the Skyview Parc buildings.
Flushing Commons - Real Estate Project
There are several new projects in the works. The largest is the Flushing Commons Development, which will be followed by an expansion to the Hyatt Place Hotel included in that project. The Flushing Commons Project is the largest of its kind in Flushing. The site of this development is the 5.5 acre lot adjacent to Queens Crossing and the Macedonia AME church. A graphic depiction of the Flushing Commons real estate project is shown to your right.
The Flushing Commons Apartment and Retail Space Development is expected to be comprised of up to 600 condominium units, up to 235,000 square feet of retail space, 185,000 square feet of office space, 1,600 subterranean parking spots, a 62,000 square foot YMCA and a 1.5 acre town square. As we understand it, the Flushing Commons project will get underway this year and is to be completed by 2014.
Flushing Temporarily Loses Municipal Parking
The new development includes the demolition of the Flushing Mall which is one block west of Queens Crossing on 39th Avenue. The lot of this building will provide some of the interim parking spaces while the Flushing Commons project is being constructed. The interim parking lot will replace 600 of the estimated 1,100 parking units that will be lost to the Flushing Commons construction site. The Flushing Mall is shown in the photo to your left.
Demolition of the Flushing Mall begins in late 2011 / early 2012 and parking will be available some time after that. Around the same time construction will begin on the Flushing Commons project, but the timing is dependent upon the developer's financing.
Flushing Commons Developers - F&T Group / TDC
As mentioned above, the Flushing Commons project is being developed by TDC which is the Flushing based developer that erected the Queens Crossing building. The adjunct project is being handled by TDC's parent company, F & T Group. F & T Group appears to be a privately-owned company that handles development projects primarily in Shanghai and New York.
Affordable Housing By The Macedonia CDC
There's another Flushing development project planned, which is separate from the two mentioned above, is referred to as the Macedonia Plaza project. This development is being developed by the Macedonia Community Development Corporation which is an extension of the Macedonia African Methodist Episcopal [AME] Church.
The Macedonia Plaza project focuses on providing 140 affordable housing units, along with modest apportionments for: community space [almost 6,000 square feet], retail space [over 7,000 square feet] and nearly 19,000 sqare feet of public space. The Macedonia AME Church is shown in the photo to your right.
Other Flushing Developments - RKO Keith's Theatre
The famous 1928 theater that sits at the top of Main Street on Northern Blvd in Flushing will finally get its makeover. Only the lobby will be preserved as in the 1980's one of the former owners begin gutting it before the city could stop him. The building was recently purchased for $20 million by Patrick Thompson a Manhattan developer. We're informed the site will become home to over 350 rental apartments, over 17,000 sqare feet of retail space and some space will be allocated to a center for seniors.
Flushing Harbor Waterfront Rezoning
There is a rezoning effort in the works by city government. The objective is to enhance the waterfront by rezoning the strip along Flushing Harbor where a number of construction / transportation related businesses operate. The Flushing Harbor waterfront on the Flushing side is shown in the photo to your right.
Flushing Commons Real Estate - Parking
Some of the issues raised in association with these developments include concern about the loss of the 500 plus municipal parking spots while the construction project is in process. The loss of these spaces is of great concern to the local business owners in the area who are concerned the associated loss in business could force some of them to close their doors.
Flushing Real Estate Development - Congestion
The longer term issues center around increasing pressure on what some believe is an already overburdened infrastructure in the area. The number 7 subway line is one of the busiest subway lines outside of Manhattan, and as anyone who's ridden the subway line during rush hour can tell you, it's already running at capacity.
To further complicate the issue, there are somewhere between ten and twenty bus lines that circle through the Flushing downtown center. These bus lines move thousands of people, perhaps tens of thousands, daily.
There are also concerns about automobile traffic, which we discuss in greater detail in association with the proposed Willets Point redevelopment project which is also in Flushing.
Suggestion To NYC - Fund DOT Study
One might suggest the city start the Queens DOT on a project similar to the one they're finishing in Jackson Heights. In Jackson Heights the DOT appears to have addressed some of the congestion issues in that neighborhood, although we won't be certain until the changes are implemented. The DOT could begin a study now with the intent to alleviate the pedestrian, automotive and public transit congestion that's likely to worsen as these new developments open three to four years from now - assuming they obtain timely financing and stay in step their project plans.
Airport Expansion – Queens Construction Projects
LaGuardia Airport opened its new control tower in January of 2011. It replaces the LaGuardia Airport control tower installed in anticipation of traffic for the 1964 World’s Fair.
Throgs Neck Bridge – Queens Construction Projects
The Throgs Neck Bridge connects Queens and the Bronx and turned 50 this year [erected 1961]. Approximately 114,000 people cross the bridge every day. Many inbound drivers come through the Kew Gardens interchange which will undergo some renovation this coming year. Watch for summer traffic.
Queens Real Estate - Related Stories
Click here to view a story about Queens Real Estate in general with links to stories about Jackson Heights real estate, Sunnyside real estate & Woodside real estate, and Astoria real estate. And click here to go to the Queens Real Estate section of our site. Click here to view Queens Real Estate Classifieds.
Queens Realtors, Queens Insurance & Banking - Links
Click here to go to the home page of Halvatzis Realty - real estate in Astoria, MPC Properties - Realtors in Jackson Heights and Welcome Home Real Estate in Sunnyside.
Home Insurance / Mortgage Lenders in Queens. Click here to go to the home page of Allstate Home Insurance In Queens. Click here to go to the home page of Ponce Bank - mortgage lending in Queens.
Real Estate In Queens - Related Info
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