37-17/19 108th Street, Corona, NY 11368

Corona, Queens, New York 11368

$8,300,000  

Listing ID Number

24126

Property Description

Cushman & Wakefield has been retained on an exclusive basis for the sale of the subject property, a 16-unit multifamily building in Corona. The building is 100% leased including the retail units on the ground floor.

The building sits on two adjacent tax lots on 108th Street between 37th Avenue and 37th Drive. The 14 residential units is a mix of (2) studios, (4) one-bedrooms, (6) two-bedrooms, and (2) three-bedrooms. All units are equipped with granite kitchen countertops, marble bathroom, hardwood floors, and central heating/cooling system. The building also has elevator access from the ground floor to the second floor. Construction was finished in mid 2014. Rare tax abatement with 20+ years remaining which equates to over $2 Million in savings.

The 7 train at 103rd Street is located just three blocks away, which provides convenience and constant commercial activity and foot traffic; ideal for retail and residential tenants.

This property is a rare product in today’s market with great cash flow and high-quality construction.

Overview

Building Type:Apartment Buildings
Location:Corona, Queens
Block/Lot:1777/57 & 58
Lot Dimensions:50' x 100'
Lot Sq Ft:5,000
Unit Dimensions:50' x 60'
Unit Sq Ft:15,068
Stories:4
Residential Units:14
Commercial Units:2
Zoning:C1-4 / R6B
Taxes:$25,931
421A Exp. 6/30/26

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen R. Preuss
Senior Managing Director
(718) 512 2118
stephen.preuss@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.