26-01/15 4th Street, Astoria, NY 11102
Residential Development Site for Sale
Asking Price: $21,000,000
The subject consists of two industrial buildings with a total of 49,000 square feet. The property has 24 foot ceilings, four overhead roll-up doors and outdoor parking for 15-20 cars. Delivered vacant, the property offers a prime investment for an owner/user. With a combined footprint of 51,493 square feet and a zoning designation of R6, the property has a total of 154,479 buildable square feet for residential development. The properties have a combined 200 feet of frontage on 4th Street, a 75 foot wide street, which gives the property the added F.A.R. bonus of 3.0 under the Quality Housing program for a portion of the lot. Including community use, the zoning allows for an F.A.R. of 4.8. Therefore, with 49,000 square feet of commercial space already in place, the project could add an additional 61,638 square feet of community facility space bringing the project total up to approximately 247,166 square feet. Due to its size, available air rights and proximity to the waterfront and multiple large development projects, this property poses an excellent opportunity for a developer.
For more information, contact Evan Daniel at (718) 451-8811 or at evan@modernspacesnyc.com.