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.