4908-4910 Queens Blvd | Flushing, NY 11377
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4908-4910 Queens Blvd
Flushing, NY 11377
Sunnyside Development Site · Land For Sale · 0.18 AC
INVESTMENT HIGHLIGHTS
- 40’ x 100’ Lot Zoned C4-4A.
- Covered Land Play – Projected Gross Income of $229,200
- (3) Blocks from 46th Street Subway Stop
- 16,000 BSF As-Of-Right. 20,040 BSF with UAP.
- High Demand Retail and Residential Location
- Last Lease Expires April 2025, Collect Rent While Waiting for Plan Approval.
EXECUTIVE SUMMARY
Located at 4908-4910 Queens Boulevard in Sunnyside, this development site offers a considerable 4,000 Sq. Ft. lot size. It's zoned C4-4A with a Floor Area Ratio (FAR) of 3.45 or 4.6, allowing for a buildable area of 13,810 Sq. Ft., or 18,413 Sq. Ft. with the Voluntary Inclusionary Bonus.
The property, situated just 0.1 miles from the 46th Street Street subway stop, offers easy access to Manhattan. This site is currently built as (2) buildings with (2) apartments and (2) Stores. The property is currently generating $109,200 per year. Should the purchaser buy and rent, the property is expected to make $229,200 per year (Gross).
The double-wide lot provides substantial space for construction. The recent implementation of the 485-x tax abatement, under the Affordable Neighborhoods for New Yorkers ("ANNY") program, enhances the attractiveness of this opportunity, offering significant tax incentives for developers focused on rental housing. This property is well-suited for a rental developer or investor looking to capitalize on the growth and potential of Sunnyside, on the border of Long Island City and it’s booming real estate market.
The property, situated just 0.1 miles from the 46th Street Street subway stop, offers easy access to Manhattan. This site is currently built as (2) buildings with (2) apartments and (2) Stores. The property is currently generating $109,200 per year. Should the purchaser buy and rent, the property is expected to make $229,200 per year (Gross).
The double-wide lot provides substantial space for construction. The recent implementation of the 485-x tax abatement, under the Affordable Neighborhoods for New Yorkers ("ANNY") program, enhances the attractiveness of this opportunity, offering significant tax incentives for developers focused on rental housing. This property is well-suited for a rental developer or investor looking to capitalize on the growth and potential of Sunnyside, on the border of Long Island City and it’s booming real estate market.
PROPERTY FACTS
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.18 AC |
| Property Type | Land |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.18 AC |
1 LOT AVAILABLE
Lot 08-10
| Price | $5,062,750 CAD | Lot Size | 0.18 AC |
| Price Per AC | $28,126,387.79 CAD |
| Price | $5,062,750 CAD |
| Price Per AC | $28,126,387.79 CAD |
| Lot Size | 0.18 AC |
Prime development opportunity. Lot 49-08 is 20 x 100 and 49-10 is 20 x 100. Total 40 x 100 SF lot= 0.18 acre.
DESCRIPTION
Great location with high visibility. 1 ft easement on either side of the current building structures. The double-wide lot provides substantial space for construction.
PROPERTY TAXES
| Parcel Number | 02282-0026 | Improvements Assessment | $300,246 CAD |
| Land Assessment | $319,275 CAD | Total Assessment | $619,521 CAD |
PROPERTY TAXES
Parcel Number
02282-0026
Land Assessment
$319,275 CAD
Improvements Assessment
$300,246 CAD
Total Assessment
$619,521 CAD
ZONING
| Zoning Code | C4-4A (C4 - Regional commercial center located outside of the central business districts) |
| C4-4A (C4 - Regional commercial center located outside of the central business districts) |
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