QUEENS — A 16-story Rego Park rental from the 1950s was recently redeveloped into a luxury building featuring numerous amenities, such as a pet spa, children's playroom and bike storage, joining several recent developments in the neighborhood that boast upscale apartments, according to a brokerage firm.
The building, at 62-60 99th St., near 63rd Road, was once known as Saxon Hall.
Currently called the Drake, the building was bought last year for about $135 million by Madison Realty Capital in what was considered one of “the largest investment sales transaction in the history of the neighborhood.”
Saxon Hall, at 62-60 99th St., has recently been redeveloped, and is currently called The Drake. (DNAinfo/Ewa Kern-Jedrychowska)
The 419-unit building which features a mix of one- to four-bedroom units, will soon offer the first 100 apartments which have been fully-renovated, according to brokerage firm Modern Spaces.
Currently, four such apartments are listed on the market, including a one-bedroom for $2,123 a month, a two-bedroom for $2,769, a three-bedroom for $3,415 and a four-bedroom for $3,785, according to the Modern Spaces website.
The building was renamed after a historic movie theater which opened on Woodhaven Boulevard at 63rd Avenue in 1935. It closed in the early 1990s, when it became the Joe Abbracciamento Restaurant, according to the website Cinema Treasures. The eatery closed in January 2014 and was demolished in October 2016 to make room for a new residential building.
Jay Heydt, managing director of leasing at Madison Realty Capital said that Rego Park came to be a sought-after option as other Queens neighborhoods are becoming more expensive.
“More and more renters are moving east in response to rapid increases in pricing in Astoria and Long Island City,” Heydt said in a statement.
The recently renovated units in the building boast high ceilings, new windows, wood floors and open layouts as well as Quartz countertops and stainless steel Whirlpool appliances in the kitchens and Kohler tubs and separate shower stalls in the bathrooms, according to Modern Spaces.
Courtesy: Modern Spaces
The building, located about four blocks from the Rego Park subway station and near the Rego Center Mall, also features a fitness and wellness center and a resident’s lounge.
