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December 1, 2017

In Flushing, a former mall transforms into a game-changing mixed-use development

In early November, sales quietly launched on a 13-story condo building in Flushing, Queens, part of a massive four-building project transforming the site of the erstwhile Flushing Mall.

That condo building features a total of 192 apartments, and half of them have already sold since the sales launch. Sales on an additional 125 apartments, located in a second residential building that’s part of the overall project, will launch early next year.

For the condo that did launch sales, apartments vary in size from studios through three-bedrooms. Prices range from $625,000 for a fully-furnished studio, and on the upper end, three-bedrooms start at $1.85 million. Recently, the developers sold the first penthouse within the overall project for $2.76 million.

The first of the 13-story condo buildings is known as Tangram House South (the overall project is called Tangram, after the Chinese puzzle) and fronts on 39th Avenue, while the second is called Tangram House West, and will front on College Point Boulevard. Work on the first residential building is set to wrap at the end of 2018.

Both residential buildings will sit atop a 225,000-square-foot retail base, according to the Wall Street Journal. In October, the South Korean movie theater chain, CJ CGV announced plans to open a seven-auditorium 4-D multiplex within the retail base, making it only the third 4-D cinema in NYC for mainstream films.

There’s more to Tangram: an office condo building, and a 200-room hotel, both of which will be built in the coming years. The development group, which is comprised of the F&T Group, and SCG America, also hopes to bring a food hall, a beer garden, and themed restaurants to the overall development.

The developers described Tangram to the WSJ as a smaller version of the Time Warner Center at Columbus Circle, and if the renderings and development plans are anything to go by, then that definitely seems to be the case.

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