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development team led by JLS Group, a Flushing-based construction firm, is planning a new mixed-use project in Long Island City. Partnering with Montperia Group, a Woodside-based real estate firm, the project will be located at 42-76 Hunter Street and feature 33 residential units across approximately 37,000 square feet. The property will stand at 10 stories tall, with retail space on the ground floor.

    JLS acquired the vacant development site for $2.7 million in October 2023 through a limited liability company associated with the firm. Alex Lau, managing member of Montperia, is listed as the project owner. This collaboration marks the second joint venture between JLS and Montperia in the area, following their acquisition of 24-02 Queens Plaza South from The Carlyle Group for $49 million.

    Long Island City has seen significant residential development in recent years, with the city proposing a rezoning plan that could add up to 14,000 new residences. Montperia primarily focuses on residential buildings in Brooklyn and Queens, also owning notable properties such as the Flushings Alliance Tower office building and Long Island City's Wingate Hotel.