New York, NY 11432

Property

Ownership: For Sale
Type: Unknown
Bedrooms: Studio
Pets: No Pets Allowed
Lot Size: 0.14 Acres

Financials

Price:$9,500,000
Annual Taxes:$233,887.28
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Corcoran

89 71 164th Street presents a compelling as of right development opportunity in the heart of Jamaica, Queens.

Description

89-71 164th Street presents a compelling as-of-right development opportunity in the heart of Jamaica, Queens. The property sits on an approximately 14,200 square foot lot and is located within a C6-2 zoning district, allowing for substantial future development potential. Based on the lot size and applicable zoning regulations, the site supports approximately 85,000 buildable square feet, subject to zoning verification and architectural analysis. The property benefits from strong frontage, efficient lot dimensions, and proximity to major transit, Jamaica Avenue retail corridors, and institutional demand drivers. The current asking price reflects a land basis of approximately $112 per buildable square foot, positioning the offering at or below prevailing market metrics for comparable C6-zoned development sites in Jamaica and surrounding submarkets. Recent land transactions in the area have generally traded in the $110–$130 per buildable square foot range, with premiums achieved for sites offering as-of-right density, transit adjacency, and scalable floor plates. This offering is well suited for mixed-use, hotel, or commercial development, subject to approvals. Preliminary structural and vertical expansion studies further enhance the site’s value proposition, though purchasers are encouraged to conduct their own due diligence. All zoning, FAR, and buildable area figures are estimates and subject to confirmation by purchaser’s architect, attorney, and zoning consultant.

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.