11,007 B.S.F. Mixed-Use Development Site | 3936 28th St
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11,007 B.S.F. Mixed-Use Development Site 3936 28th St
3 Unit Apartment Building $4,680,468 CAD ($1,560,156 CAD/Unit) Long Island City, NY 11101
Investment Highlights
- 55’ of frontage on 28th Street
- Fastest growing neighborhood in NYC
- Minutes from Manhattan
- Favorable Dutch Kills zoning district
- 3 short blocks from the N/W subway lines, and 4 blocks from the E/M/R/7 subway lines
- Month to month tenancy
Executive Summary
Modern Spaces Commercial + Investment Division has been retained on an exclusive basis to market for sale 39-36 28th Street, Long Island City. The rectangular lot has approximately 5,504 square feet with a zoning designation of M1-2/R5B yielding approximately 11,007 buildable square feet for mixed-use development. The lot is currently improved with a three-family home along with seven (7) garages. All 3 of the one-bedroom, one bathroom apartments are rented on a month-to-month basis offering a buyer cash flow while planning and preparing for a new building. In the short term, if desired, a buyer can immediately renovate and raise the rents, or vacate the house in preparation for construction.
Situated within the Dutch Kills sub-district of Long Island City, this area just north of Queens Plaza benefited from a rezoning in 2008 leading to dramatic changes including thousands of new luxury apartments and commercial space. Given its location, favorable zoning, and 55 feet of frontage, the property is best suited for new development to join the likes of its neighbors in one of the fastest growing neighborhoods in the country.
Situated within the Dutch Kills sub-district of Long Island City, this area just north of Queens Plaza benefited from a rezoning in 2008 leading to dramatic changes including thousands of new luxury apartments and commercial space. Given its location, favorable zoning, and 55 feet of frontage, the property is best suited for new development to join the likes of its neighbors in one of the fastest growing neighborhoods in the country.
Property Facts Under Contract
| Price | $4,680,468 CAD | Building Class | C |
| Price Per Unit | $1,560,156 CAD | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 3,120 SF |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1901 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $4,680,468 CAD |
| Price Per Unit | $1,560,156 CAD |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,120 SF |
| No. Stories | 3 |
| Year Built | 1901 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
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Walk Score ®
Walker's Paradise (92)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (88)
zoning
| Zoning Code | M1-2R5B |
| M1-2R5B |
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11,007 B.S.F. Mixed-Use Development Site | 3936 28th St
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