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Wait a Minute

Earlier this week, Property Markets Group filed permits for a 70-story building with a mind-boggling 930 units near Queensboro Plaza in Long Island City. But Crain's did some digging, only to discover that a building of that magnitude is four times larger that zoning rules allow. You can build about 20,000 square feet as of right at 29-37 41st Avenue, while PMG's proposed project is 830,000 square feet. Though there are several ways the company could have amassed extra development rights, PMG declined to comment. Chalk this up to things that make you go hmmmm. [Crain's; previously]