L+M, Triangle Equities Lead $355K SF Arverne East Buildout with 318 Units in Queens

• 318-unit mixed-income project breaks ground in Queens
• Includes rentals, co-ops, and supportive housing units
• Part of 1,650-unit Arverne East master plan

What the project means for NYC development

A major phase of the Arverne East master plan is officially underway as L+M Development Partners and its partners broke ground on Building D at 116 Beach 36th Street in Edgemere, Queens. The project is part of a larger 116-acre oceanfront redevelopment that is transforming a long-underutilized stretch of the Rockaways into a mixed-use residential hub.

What’s being built

The 10-story building will deliver 318 units across a mix of housing types, including 229 rental apartments and 89 co-op units. Affordability is central to the deal. Rental units will target households earning up to 90% of the area median income, while co-ops will serve buyers up to 100% AMI. The project also includes 35 supportive housing units for youth aging out of foster care, adding a social services component to the development.

What the design and positioning signal

Designed by FXCollaborative, the building features a courtyard layout with a triangular footprint and ocean-facing terraces. Amenities include a fitness center, lounge, outdoor terraces, and community spaces, positioning the asset competitively within the affordable and mixed-income housing segment. The building will also be fully electric and built to Passive House standards, incorporating rooftop solar and geothermal systems, a clear signal that sustainability is now a baseline expectation for large-scale projects.

Why this matters for investors and developers

Arverne East reflects a bigger shift in New York development. Large, master-planned communities in emerging neighborhoods are becoming a primary way to scale housing production. For developers, the project shows how layering affordability, sustainability, and public-private partnerships can unlock large sites that would otherwise be difficult to execute. For investors, these types of developments offer long-term upside as infrastructure, transit access, and neighborhood amenities continue to improve over time.

What to watch next

Building D is expected to be completed in 2028, with additional phases bringing retail, a boutique hotel, and more housing to the site. The long-term takeaway is clear. Waterfront, master-planned developments in outer boroughs are becoming key growth markets for New York City real estate.