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March 9, 2017

F&T Group shooting for $173.6M sellout at Tangram South

(The Real Deal) The F&T Group is looking to sellout its proposed Tangram South condominiums in Flushing, Queens for $173.6 million, filings with the New York state Attorney General’s office show.

The 192-unit development, which will also offer 111 units of storage for sale, has an address of 133-27 39th Avenue and is located near Flushing’s Main Street subway station.

The Flushing-based firm is developing the condo with SCG America as part of its four-building, 1.2 million-square- foot Tangram project. (It was previously known as Two Fulton Square.) In December, the developers filed an offering plan for a 47-unit office condo at the site with a target sellout set at $103.5 million. Together, the two condo plans show F&T is looking to bring in more than a quarter billion dollars in sales from Tangram, and since the developers previously announced the development would eventually bring 300 condos to market, another residential offering plan is likely on the way.

In addition to condos, 86,901-square- feet of office space and a hotel, Flushing residents can also expect Tangram to give them their first movie theatre since the RKO Keith’s Theater closed in 1986.

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