Remarks

This offering consists of a package of 3 adjacent mixed-use buildings with substantial redevelopment potential, located in the heart of Downtown Flushing one of Queens fastest-growing neighborhoods. The subject property sits in an R7-1 zoning district with an FAR of 4.8, making it a prime development site for future residential expansion or repositioning. Currently, all 6 free market residential units are leased at more than 20% below market rent, offering investors a clear value-add opportunity through rental adjustments. With stable tenancy, underutilized income, and long-term development upside, this asset offers both immediate cash flow and significant future growth potential. As part of a 3-building package, this is a rare opportunity to acquire a strategic footprint in a high-demand urban core with strong connectivity and sustained market momentum.

Details

MLS#: 11519410
Price: $2,800,000

Style: Townhouse
Bedrooms: 0
Baths Full: 0
Baths Half: 0
Sq Ft: 5368
Year Built: 0

County: Queens
Tax Fee: 0

School District: 000000