Post Focus on Commercial Real Estate

By LOIS WEISS
Wednesday, August 17, 2005

The second generation of Andalex is growing a new 237-unit loft conversion in Queens at 27-28 Thompson Ave., known as the Arris Lofts for its triangular shape.

Andrew and Alex Silverman are taking the giant, former Met Life printing plant and Eagle Electric headquarters at Court Square they bought for $52 million in January an adding two partial floors.

It will also have a “tranquil” interior courtyard, indoor lap pool, playroom, and 17 artists studios to be sold separately.

Costas Kondylis is handing the architecture with his daughter, Alexia, on the interiors with her partner, Brian Callahan.

Andrew says the sprawling units—all with views to the Manhattan skyline and 60 with terraces or roof decks—will sell for $650 a foot. Units start at $450,000 and go up from there.

“Everything in the building is oversized,” he said. Thus their slogan: Life Gets Bigger.

The Sunshine Group is the marketer, and with 600 to 800 union workers crawling over it at a time, occupancy is expected next summer.


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