Putnam Court Waterview Development

Nassau County, Glen Cove, New York 11542

$1,300,000   Opportunity Zone

Listing ID Number

25406

Property Description

Cushman & Wakefield has been retained on an exclusive basis for the sale of a prime Opportunity Zone residential development site in Glen Cove, New York at Putnam Avenue and Daly Place.

The subject property is a 121,586 SF (approx.) vacant lot located south of Daly Place in the City of Glen Cove, Long Island. The property previously had preliminary subdivision approval in place for a (9) unit townhome development averaging 3,500 SF (approx.) each for a total buildable area of 31,500 SF (approx.). A developer would also have the option to potentially fit (12)+ single-family luxury homes rather than the (9) townhomes.

The property is water view, located just south of Glen Cove Creek. It is easily accessible from Shore Road and Glen Cove Avenue, two main thoroughfares in Glen Cove. The LIRR Sea Cliff and Glen Street stations are located within 1.5 miles from the subject offering convenient access to and from NYC.

Glen Cove Creek features the newly completed Glen Cove Ferry Terminal on the Glen Cove Waterfront which will provide additional transportation to and from NYC. The widely publicized 56-acre $1 billion Garvies Point development from RXR is expected to open up Phase I in Fall 2019. Phase I consists of 552 units of housing and 20 acres of open public space. The residential portion is made up of The Beacon (condominiums) and Harbor Landing (rentals). Units are starting at $650,000 with high expectations on residential demand for luxury new-construction. The entire development plans for a breathtaking mixed-use community including 27+ acres of open public space, 1,110 LEED certified residential units, 75,000 SF of commercial space, ~2,400 parking spaces, and (3) three separate marinas.

Please refer to attached survey and inquire for additional information.

Overview

Building Type:Development/Conversion Sites
Location:Glen Cove
Section/Block/Lot:21/256/37
Lot Dimensions: 282.11' x 363.53'
Irr.
Lot Sq Ft:121,586
approx.
Buildable Sq. Ft:31,500
approx.

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen R. Preuss
Vice Chairman
(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.