Jonathan Plotkin, an executive vice president at Colliers International, estimates there are about 3 million square feet in the development pipeline. Much of it’s from F&T, which built Flushing Commons (with Rockefeller Group and AECOM Capital), Queens Crossing and One Fulton Square (with SCG America). F&T is now working on Tangram (also with SCG) — a 1.2 million-square-foot, mixed-use project named for the Chinese puzzle that’s said to have inspired it. (It was originally named Two Fulton Square.)
Tangram’s first residential phase of 192 apartments is nearly 100 percent sold out. The complex is set to include a total of 320 residences, a hotel, 275,000 square feet of retail and a 34,000-square-foot Regal multiplex that will boast 4DX special effects technology.
There’s only one rare rental space up for grabs — a 20,000-square-foot office block at F&T’s Queens Crossing. But it’s only available because F&T, which has its own offices there, plans to move them to the firm’s rising Tangram complex nearby.
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