84-02 Roosevelt Avenue, Jackson Heights

Jackson Heights, Jackson Heights, New York 11372-7341

$11,500,000  

Listing ID Number

24989

Property Description

Cushman & Wakefield has been retained exclusively to arrange for the sale 84-02 Roosevelt Ave, a prime block-through development site located on the south side of Roosevelt Ave between Baxter Ave and Forley Street in the Jackson Heights neighborhood of Queens. The 8,731 SF (approx.) lot is located within an R6/C1-3 zoning district, which allows for an as of right maximum mixed-use development potential of 41,909 SF (approx.). The site is currently improved by a single story plus lower level retail building totaling approx. 16,348 SF which will be delivered vacant. The property is well located in proximity to 82nd Street, one of the strongest retail corridors in Queens, where access to the 7 train subway station is available as well as numerous MTA bus lines. Additionally the property can be conveniently access via the E, F, M & R subway lines at the 74th Street subway station. Major retailers in the area include Citibank, GNC, Petland, Planet Fitness, McDonald’s, Duane Reade, Food Town and many more.
Roosevelt Avenue in Jackson Heights is a well trafficked commercial corridor filled with international culinary hotspots and a thriving nightlife. It’s also one the most ethnically diverse neighborhoods in NY. With the newly revived 421-a program, called the “Affordable NY Housing Program”, this site offers a tremendous opportunity for an investor and developer.

Overview

Building Type:Development/Conversion Sites
Lot Sq Ft:8,731 SF
(approx.)
Buildable Sq. Ft:41,909 SF
(approx.)
Available Air Rights:25,561 SF
(approx.)
FAR:4.8 Community Use
Residential FAR:3.0 (Quality Housing)
Commercial FAR:2.0
Building Sq Ft:16,438 SF
(approx.)

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Thomas A. Donovan
Vice Chairman
(718) 512 2626
tom.donovan@cushwake.com

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


Property Images

Click the image for a high resolution version.

<     /     >

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.