Astoria Cove
Erstwhile Queens site of Astoria Cove hits the market for $350M
The developer bringing the site on the market is also an indicator that Governor Andrew Cuomo’s proposed revival of the 421-a program—Affordable New York, is likely to be approved by the state legislature.
Astoria Cove megaproject may have been undone by financial woes
Developers are only able to secure the break once they show there is some progress towards that particular project, and this case Politico has deduced that the developers were likely unable to get the adequate funds to move forward.
Another Astoria megaproject stalls following the lapse of 421-a
the impact on such mixed-income projects following the expiration of 421-a has been feared by many real estate analysts for some time now. Yet another project in the neighborhood to be affected by it was the Hallets Point megaproject.