The subject is a commercial / hotel development site in Long Island City, located minutes from Queens Plaza and the Queensboro bridge and just a short distance from the Triboro (RFK) Bridge. The property stands to benefit from excellent transit access from 21st Street, a major artery in Western Queens. The neighborhood is experiencing tremendous development, with thousands of newly constructed luxury apartments and condominiums and thousands more in the pipeline. Demand for hotel and office is also very strong with over 20 local hotels and millions of square feet of office space.
The M1-3 zoning designation has an F.A.R. of 5.0 which yields 32,520 buildable square feet for commercial development on the 6,504 square foot rectangular lot. Due to its excellent location, the property is prime for hotel, office or storage development.
|Type:||Development / Land / Conversion|