A 12 acre development site in the Queens neighborhood of Maspeth has been acquired by the Parkwill Management Corporation for $55.8 million. The property is located between Newtown Creek, which separates Queens from Brooklyn, and 57th Avenue just east of the Kosciuszko Bridge. A copper manufacturing operations was located on the site until the 1980s and is located in an M3-1 zoning district, allowing heavy industry use along with light manufacturing, distribution, storage and other commercial uses. Phoenix-based mining company Freeport-McMoRan sold the tract of land which holds more than 1 million sqf feet of buildable space.
