NEW YORK—A large co-op redevelopment in Queens has attracted overwhelming interest from prospective buyers desirous of its conveniences, such as quality finishings and in-house laundry, which are rare offerings in the area.
Developers Myles Horn, ABC Properties, and Fisher Associates bought 79 unsold units in The Continental Park, a 153-unit co-op in Elmhurst, in November 2013.
Sixty-one of the units were occupied by free-market tenants, and 18 were rent stabilized. When the free-market tenants’ leases expired they were vacated, and the development team began work extensively renovating the units.
“I didn’t just renovate them. I changed the design and the layout of the apartments. And then we spent a great deal of money, relative to Queens, to highly renovate and design them,” said Myles Horn, the lead developer.
The apartments are outfitted with espresso solid oak wood flooring and huge closets. The kitchens feature imported Italian cabinetry, stainless steel appliances, and custom white stone countertops. Many of the apartments have washer and dryer hook ups, and some have dishwashers. All of the bathrooms are outfitted with imported Nemo Marvel porcelain wall and floor tiles, custom tubs, and Kohler and Grohe fixtures. Some even have a private outdoor terrace.
