Jacob Schwimmer bringing 500 units to Long Island City
Jacob Schwimmer is preparing his next big project, even though it’s not clear if he owns the necessary parcels yet for the development. JCS Realty Group filed plans for a 495-unit development in Long Island City last week, PincusCo reported. The project is split into five buildings, each 99 units, a move likely intended to avoid the $40 wage floor triggered by the 485x tax abatement for projects with 100 or more units. The owners of the property appear to be the heirs of Dieter Holterbosch, who ran a beer importing company prior to his death in 2016. It’s unclear […]
This article originally appeared on The Real Deal. Click here to read the full story.
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