Assignments

Vacant Lot in Dutch Kills

38-32 Crescent St, Long Island City, NY 11101

Asking
$
1500000

Property Details

Property Type
Residential Development Site
Price Summary
$
1500000
Buildable SF
5008
Building SF
5008
LOT SF
5008
Cap RATE
%
Zoning
M1-2/R5D, LIC

Highlights

  • 25’ x 100’ Lot Zoned M1-2/R5D, LIC. ~5,004 BSF As Of Right.
  • 7,500 Buildable Square Feet with Qualifying Ground Floor.
  • Demolished Lot Reducing Construction Costs.
  • Delivered Vacant.
  • Located Close to Multiple Subway Lines.
  • $1,300/SF Condo Area.

Property DEscription

38-32 Crescent Street is a 25’ Wide Development site located in the highly sought-after neighborhood of Dutch Kills, a subdistrict of Long Island City. The property is currently used as a storage area for construction equipment and can be delivered vacant at closing. The property benefits from a 25’ x 100’ Lot size and M1-2/R5D, LIC zoning, allowing for a 5,000 Sq. Ft. Residential building or a 7,500 Sq. Ft. Mixed-Use building. There is (1) curb cut on the property which will help facilitate the construction of the parking requirements. 38-32 Crescent Street benefits from proximity to the Queensboro Plaza Subway station with access to (5) subway trains and access to Manhattan in under 10 minutes. Furthermore, the property is surrounded by various, bars, restaurants, and attraction. This should add to the appeal of future residential tenants.

Map

Alexandre Goulet
Partner
(646) 559-4700
ag@landairnyc.com
Christopher Daniels
Senior Associate
(917) 238-9119
CDaniels@landairnyc.com
Dean Abouelhassan
Senior Associate
(516) 532-5385
da@landairnyc.com
Anand Melwani
Partner
(516) 658-1222
am@landairnyc.com

Documents

Offering Memorandum
Data Room

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