For Sale
$3,399,000

38-18 31St StLong Island City, NY 11101

Prime location, high buildable FAR.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional Long Island City investment opportunity presents a rare double lot development site at 38-18 & 38-20 31st Street, Queens, NY 11101. The property encompasses a combined 4,504 square feet (2,250 sq ft and 2,254 sq ft) and is zoned M1-2/R6A. This allows for significant redevelopment potential, with a combined 13,512 buildable square feet of Air Rights. Each lot, measuring 25x90 feet, offers individual buildable square footage. Building 1, with 2,250 square feet, has a FAR of 4 (Residential) and 2 (Commercial), allowing for 6,750 square feet of development. Building 2, at 2,254 square feet, mirrors these zoning regulations and FAR, offering an additional 6,762 square feet of buildable space. This prime location, situated under the subway on 31st Street, presents a unique chance to create substantial multifamily housing in a highly desirable area of Long Island City/Astoria. The asking price for this exceptional redevelopment opportunity is $3,399,000.

Property Details for 38-18 31St St

Property type
Apartment buildings
Class
C
Buildings
2

Location Insight

City
Long Island City
County
Queens
State
New York
Latitude
40.753289362346
Longitude
-73.932409713654
38-18 31St St, Long Island City, New York

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Contacts

Tony Hack
Tony Hack
Brent Seberhagen
Brent Seberhagen
Visit Broker Website

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Useful Information

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38-18 31St St, Long Island City, New York, 11101

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

38-18 31St St
  • Tony Hack
    Tony Hack
  • Brent Seberhagen
    Brent Seberhagen
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