New York, NY 11378

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Pets: Pets No

Financials

Price:$3,500,000
Annual Taxes:$6,603.56
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Brown Harris Stevens FH

Description

Rare Queens corner lot with significant air rights potential, existing mixed-use buildings, and value-add or ground-up development options. This rare three-lot assemblage in Maspeth presents a flexible development opportunity for investors, developers, and end-users alike. Spanning approximately 8,060 square feet of land and offering up to 13,300 buildable square feet (with bonus FAR), the site is positioned on a high-visibility corner just off Grand Avenue and the BQE, with over 75 feet of street frontage. Zoned M1-1D, the property offers as-of-right commercial or community facility use and the potential for residential development via CPC special permit. The combined offering includes two 2-story mixed-use buildings, a detached single-family structure, and a rear-lot storage warehouse - all of which can be delivered vacant or with existing tenancy. Whether approached as a value-add hold, boutique condo or rental development, or a mixed-use ground-up project, the flexibility of the site makes it highly adaptable to a range of strategies. Located in a quiet, evolving pocket of western Queens (bordering Brooklyn) with multiple bus routes and strong rental demand, this property benefits from limited neighborhood competition, steady industrial-to-residential transition, and growing developer interest in fringe zones with upzoning potential. Seller is open to the full assemblage or individual lot sale. Schedule a viewing today and take the first step toward making this tremendous investment opportunity yours.

Amenities

  • Corner Lot
  • Electricity Connected
  • Near Public Transit
  • Paved

Rare Queens corner lot with significant air rights potential, existing mixed use buildings, and value add or ground up development options.


Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.