The Drake

The Drake

Queens

Madison Realty Capital

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The Brief

A 417-residential unit project, Crown was tasked first with deriving an overall renovation strategy and schedule based on multiple lease termination dates, scheduling renovations as apartments became vacant and completing them as soon as possible.

Concept

A new aesthetic was chosen for the post war building to help it compete with more modern competition in the rapidly growing neighborhood of Forest Hills, Queens. The biggest challenge was maximizing the benefit of plumbing changes where simultaneous vacancies throughout a vertical line could not be obtained.

Our strategy behind this asset was to reconfigure each unit to create an open layout in common areas, relocate kitchens and relocate or add bathrooms where possible along the interior portions of the room. By opening up exterior wall space, more bedrooms could be added thus maximizing rental opportunities.

Features

We created new amenities in previously unused basement space, providing a day-care center and meeting rooms. Contemporary finishes were included in all private and common renovation space, and the new layouts yielded a 25% increase in bedroom count.

Overview

Services
Architecture
Status
Ongoing
Value
$17 million
Size
503,000 sq ft
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