3129-3139 137th Street, Flushing, NY 11354

Flushing, Queens, New York 11354

$14,800,000  

Listing ID Number

25128

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 3129 - 3139 137th Street, an approximately 17,025 square foot vacant residential lot in Flushing, Queens. The property consists of six contiguous lots on 137th Street between 31st Road and 32nd Avenue, just north of Leavitts Park. This is the last large parcel of land for residential development in this neighborhood.

The assemblage sits in an R6 zoning which allows for residential development. The ‘as-of right’ buildable square footage is approximately 41,370.75 square feet. The property also benefits from a community facility bonus of 4.8 FAR which gives a total 81,720 buildable square feet with the addition of community facility development.

It is It is conveniently positioned in proximity to the Van Wyck/Whitestone Expressways and the QM20, Q25, Q34, & Q50 bus lines. Flushing has emerged as one of the fastest growing neighborhoods in Queens largely due to its ideal location along the 7 train and an influx of foreign residents. This is a prime opportunity for a developer to capitalize on Downtown Flushing’s significant and growing demand for residential space in order to satisfy the rapid growth in the city’s population. The recent success of local residential projects such as Sky View Parc serves well for future developments as demand continues to outpace supply.

Overview

Building Type:Development/Conversion Sites
Location:Flushing, Queens
Block/Lot:4410/07 / 08 / 09 /10 / 11 / 12
Lot Dimensions:140' x 125'
IRR
Lot Sq Ft:17,025
approx.
Buildable Sq. Ft:81,720
approx.
Zoning:R6
FAR:4.8
Residential FAR:2.43
Commercial FAR:4.8

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.