Queens Apartments
Axel Stawski’s latest plans are for a 66-story, 855,000-square-foot tower in Long Island City, Queens. It’s planned to have 921 apartments, a gym with a locker room, an indoor pool and a library, according to a May 13, 2016 filing with the New York City Department of Buildings.
Long Island City, with a skyline already dotted with glossy new rental towers, is seeing soaring apartment demand as a cheaper alternative to Manhattan. The median monthly rent in northwest Queens -- which also encompasses the areas of Astoria, Sunnyside and Woodside -- jumped 10 percent in June to $2,787, according to Douglas Elliman and Miller Samuel Inc.
The tower will be Stawski’s largest since 505 Fifth Ave., a 28-story office and retail property that was completed a decade ago.
“I sometimes think that that the axiom ‘location, location, location’ should be replaced with ‘timing, timing, timing,’ said Cohen of Colliers. “His timing has been excellent.”