For Sale
$10,750,000

49-39 Van Dam StQueens, NY 11101

Prime Queens location, redevelopment potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional redevelopment opportunity presents a unique chance to acquire two lots totaling 20,890 square feet at the corner of Van Dam Street and Borden Avenue in Long Island City, Queens, New York (zip code 11101). The property, encompassing 49-39 and 49-65 Van Dam Street, offers significant potential for future development. Currently, the site boasts 18,154 square feet of existing building space and substantial air rights of 43,780 square feet. The asking price is $10,750,000, translating to $592.16 per square foot. The property is zoned M2-1, allowing for a wide range of uses, including those specified in Zoning Resolution sections 41-12 and 32-15 to 32-23. These permitted uses encompass groups 3A, 6A, 6C, 6B, 6D, 6F, 7B, 7C, 7D, 7E, 8, 9A, 9B, 9C, 10A, 10B, 10C, 11, 12A, 12B, 12C, 12D, 12E, 13, 14, and 16. The property consists of two units and is offered under a NNN lease type with multi-tenancy. This is a rare opportunity, as the property has been held by the same family for 45 years and is now being offered for sale for the first time. The property's location in Long Island City provides excellent access to transportation and amenities. This is an ideal investment for developers seeking a prime location with flexible zoning and significant development potential.

Highlights

  • Exceptional redevelopment opportunity in Long Island City, Queens.
  • Two lots totaling 20,890 square feet at 49-39 and 49-65 Van Dam Street.
  • 18,154 square feet of existing building space plus 43,780 square feet of air rights.
  • $10,750,000 asking price ($592.16 PSF).
  • M2-1 zoning allows for diverse uses (see Zoning Resolution sections 41-12 and 32-15 to 32-23 for details).

Property Details for 49-39 Van Dam St

Property type
Office properties, Mixed-use properties
Square Feet
18,154 SF
Units
2

Location Insight

City
Queens
County
Queens
State
New York
Latitude
40.7382284
Longitude
-73.9345449
49-39 Van Dam St, Queens, New York

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49-39 Van Dam St
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