Real Estate
19-Story Development To Rise At Flushing's Assi Plaza Site
The Flushing site once home to the supermarket Assi Plaza will turn into a 19-story mega-development with 368 apartments, records show.
FLUSHING, QUEENS — The Flushing site that previously housed Korean supermarket Assi Plaza is turning into a 19-story mega-development, according to permits filed last week with the city's buildings department.
The building on 139th Avenue near College Point Boulevard will house 368 apartments, 314,000 square feet of commercial space and an 11,000-square-foot community facility, records show.
The waterfront site is around the corner from the Shops at Skyview Center.
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Real estate investor Yuk Ming Yip bought the site from Queens developer Andy Zhu for $115 million in 2017, according to The Real Deal, which first reported on the development plans.
Zhu had purchased the site just two years earlier for $78 million to build a massive development with 360 condos, a 200-room hotel, medical offices and a supermarket, The Real Deal reported.
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The plans soon went off the rails, and Zhu and his development partner sued each other claiming the deal had been bungled, according to a 2017 news report in The Real Deal.
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