Muss Adds Related Co. To Aid Flushing Sales

By Joseph Orovic

The partnership behind Sky View Parc has enlisted a renowned developer and luxury property manager to help the behemoth mixed-use project cross the proverbial finish line.
A rendering of Sky View Parc, currently under construction in Flushing.
According to Crain's, the move came after private equity firm and investor Onex had been frustrated by the pace of the project and demanded changes. The result is a partnership between Muss and Onex, and a joint decision to enlist Related Companies to handle the remaining available commercial and residential space.

"As one of New York City's most accomplished developers and managers of large-scale projects such as Time Warner Center and Gateway Centers in the Bronx and Brooklyn, as well as marquee luxury condominium buildings, the partnership felt Related would bring extraordinary value in the finalization of the project," Muss Development said in a statement. "The partnership looks forward to delivering on every aspect of the residential experience and to the project's successful completion."

The change represents the second time Muss and its investors have garnered headlines. A year ago, Arbor Realty Trust stopped payment on a $75 million loan it had put towards Sky View Parc. Those difficulties were eventually ironed out between both parties, allaying fears the project would freeze right in the middle of construction.

The 3-million-square-foot development has already seen the opening of a BJ's Wholesale, with Best Buy coming later in the spring. More than 70 percent of one residential towers is reportedly sold, and 40 percent of a second has been signed for. The first, Tower 3, is expected to open for occupancy in the summer.

Reach Reporter Joseph Orovic at jorovic@queenstribune.com, or (718) 357-7400, Ext. 127.