Work is under way to turn the former Eagle Electric Company factory and warehouse site in Astoria, Queens, into a co-op complex with 188 apartments. The conversion, which includes new construction, is a departure from the overwhelming pattern in recent years of developing for-sale units as condominiums. Half of the apartments are being carved from the three-story 1920's factory, which will have three stories added as part of the redevelopment. The remaining units will be in a new five-story building that is rising next to the old factory building and will be linked to it. The site fills an entire block, bounded by 19th and 21st Streets, 24th Avenue and 23rd Terrace.
One-bedroom apartments will range in size from 650 square feet to 865 square feet, at purchase prices from $254,000 to $328,000 (median price $305,000). An average two-bedroom apartment is 1,400 square feet at $556,000, while an average three-bedroom apartment is 1,750 square feet at $750,000. Some three-bedroom units have lofts and mezzanines.
Riverview is not 100 percent complete, but a temporary certificate of occupancy will be ready by Christmas or New Year's. The Pistilli Realty Group of Astoria is developing Riverview, which will also include 10,000 square feet of stores and parking for nearly 200 cars.
The 75-year-old Eagle Electric factory, where switches and other electrical devices were once made, is in a neighborhood of one- and two-family homes. The building also is next to Astoria Park and overlooks the East River.