129-02 Northern Boulevard, Flushing

Flushing, Queens, New York 11368

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Listing ID Number

25696

Property Description

Cushman & Wakefield has been retained on an exclusive basis for the sale of 129-02 Northern Boulevard in Flushing, Queens.

129-02 Northern Boulevard is an assemblage of three adjacent lots equating to approximately 3.17 acres, or 138,198 square feet. The property is currently improved by two buildings - approximately 76,715 square feet of warehouse space and 16,350 square feet of office space on two stories. The building is currently owner-occupied and will be delivered vacant. Ownership would consider a lease-back for the property - inquire within for further details.

The property is ideal for redevelopment. Under WP zoning, the site allows for up to approximately 276,396 buildable square feet as of right for commercial / residential development. The underlying zoning of C4-4 (R7) allows for up to 4.0 FAR which, if in effect, would allow upwards of 589,799 buildable square feet, as of right. The property has a past environmental study which came back with a clean result.

129-02 Northern Boulevard is in a convenient location with easy access from Northern Boulevard, the Van Wyck Expressway and the Whitestone Expressway. LaGuardia airport is conveniently located less than ten minutes away, west of the property.

Additionally, the 7 subway train is located in walking distance at Citi Field, and the LIRR Mets-Willets Point is located just south of the subway train. Downtown Flushing is a short drive or one subway stop away, located just east of the property. Downtown Flushing is home to a mecca of real estate development including Sky View, Flushing Commons, and One Fulton Square. The NYC Willets Point Development designated Phase I area encompassing from Roosevelt Avenue through 35th Avenue and Northern Boulevard. It will feature a large mixed-use development mix of hotel, residential, and commercial.

Property inspections are by appointment only, please inquire within.

Overview

Building Type:Commercial Buildings, Development/Conversion Sites, Industrial
Block/Lot:1833/215, 425, 230
Lot Sq Ft:138,198
gross, approx.
Buildable Sq. Ft:276,396
approx.
Zoning:WP / C4-4
Building Sq Ft:93,065
approx.

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen R. Preuss
Senior Managing Director
(718) 512 2118
stephen.preuss@cushwake.com


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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.