39-25 27 STREET

For Sale - Queens - Long Island City

$3,500,000

Net Operating Income: Contact Agent

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Key Details

Property Type
MultiFamily
Neighborhood
Long Island City
Property Dimensions
22.0 x 40.0
Property Area
2,220 sq.ft.
Total Units:
3
Stories:
2
NOI
Contact Agent
Price
$3,500,000
Price Per Unit
$1,166,666
Cap Rate
-%

Listing Description

The 50’ x 100.92’ lot with 50 feet of frontage on 27th Street. This site is zoned M1-2/R5B, LIC which allows for various FARs for a diverse Mixed-Use Project. The As of Right Residential FAR is equivalent to 1.65, or 8,325 BSF. The Commercial FAR is equivalent to 2.0 or 10,092 BSF. The Facility FAR is also equivalent to 2.0 or 10,092 BSF (Block: 397, Lot: 5).

This property offers developers the rare opportunity to purchase a large development site with 50’ of frontage on 27th Street; and M1-2/R5B, LIC zoning allowing for a maximum development of approximately 13,718 buildable square feet.

Property Details

Block/Lot:
397/5
Lot Dimensions
50.0 x 100.92
Lot Area
5,046 sq.ft
Zoning:
M1-2/R5B
FAR as Built:
0.44
Max FAR:
2.0
Matt FotisMarcus & Millichap
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Sales & Transactions

AddressSale PriceSale DateProperty Type
5-19 47TH ROAD$2,500,00006/25/2018MultiFamily
51-30 35TH STREET$1,400,00006/22/2018MultiFamily
38-21 9 STREET$6,500,00006/08/2018MultiFamily
34-37 9TH STREET$608,00006/01/2018MultiFamily
36-11 31ST STREET$1,300,00005/04/2018MultiFamily
36-09 31ST STREET$950,00005/04/2018MultiFamily
10-36 49TH AVENUE$1,650,00004/27/2018MultiFamily
48-36 37TH STREET$470,00004/20/2018MultiFamily
46-32 VERNON BOULEVARD$3,850,00003/15/2018MultiFamily
10-12 34TH AVENUE$1,300,00002/28/2018MultiFamily