Modern Spaces has been retained on an exclusive basis to market for sale 31-49 12th street. The property is an approximately 8,700 square foot lot currently improved with a two story 5,500 square foot building with first floor commercial space and upper floor office. The property offers close proximity to several subway lines, the NYC Ferry, Grand Central Parkway and the Queensboro bridge. R5B zoning and 45’ of frontage offer an excellent opportunity for residential development. The building offers ceiling heights of approximately 12’ – 14’7”. Roll up gates provide access to the structure from 12th street and to the approximately 4,200 square foot rear yard. The current tenant’s lease offers early income during the construction phase for a developer, while expiring in the near term (June 2023) for a potential owner-user.
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