5130 Van Dam Street, Long Island City, NY 11101-3219

Long Island City, Long Island City, New York 11101-3219

$24,000,000  

Listing ID Number

25481

Property Description

Cushman & Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of a prime, corner warehouse building encompassing the entire block on Van Dam Street between Borden Avenue and 34th Street in Long Island City, NY. The property features ~149’ of frontage on Van Dam Street, 106’ of frontage on Borden Avenue and ~213 of frontage on 34th Street. The site is currently improved by a 28,680 Sq. Ft. (approx.), 3-story warehouse building with 10’-15’ ceiling heights throughout that will be delivered vacant with 2 rooftop billboard signs that generate additional income.
This site enjoys proximity to numerous bus lines, the 7 subway station, Long Island Expressway (~3 miles Midtown Manhattan), and Brooklyn-Queens Expressway. Please contact one of our exclusive agents below for additional information.

Overview

Building Type:Commercial Buildings
Lot Dimensions:148.75' x 106.08' Irr
(approx.)
Lot Sq Ft:7,250 SF
(approx.)
Available Air Rights:7,570 SF
(approx.)
Stories:4
Zoning:M1-3
FAR:6.5 Community Facility Bonus
Commercial FAR:5.0
Building Sq Ft:28,680 SF
(approx.)

Investment Information

Gross Monthly Income:$55,000Billboard Income
Gross Annual Income:$660,000Billboard Income

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

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

Tommy C. Lin
Director
(718) 512 2609
tommy.lin@cushwake.com

Eugene Kim
Director
(718) 512 2618
eugene.kim@cushwake.com

Robert Rappa
Associate Director
(718) 512 2601
robert.rappa@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.