Durst bought the properties last week for $167 million from Property Markets Group and Kamran Hakim of the Hakim Organization, according to a press release.
Now Durst will be looking to construct something similar in size on the L-shaped lot at 29-37 41st Ave., with the project contingent on the state legislature approving a deal struck last month to revive the 421-a tax abatement program, which expired nearly a year before.
A spokesman for the developer said the group is not planning any changes to the Clock Tower building, which was declared a city landmark last year.
The developer wants to build a one million-square-foot apartment tower next to the landmark which would contain 1,000 rental apartments, at least 250 of which would be affordable, according to a press release from Durst.
The project would also include a half-acre public park and a renovated entrance to the nearby Queens Plaza subway station, the company said.
The deal was first reported by The Real Deal.
"This is an extraordinary site with spectacular views and outstanding mass transit connectivity,” Jonathan Durst, the company's president, said in a statement.
"The project provides us with the opportunity to build much needed market-rate and affordable housing and to make the long-term investments in New York City that have been the bedrock of The Durst Organization’s success for more than 100 years."
Property Markets Group, one of the sellers, declined to comment, and Kamran Hakim of the Hakim Organization, the other seller, didn't respond to request for comment.