148-04 35th Avenue Queens, NY 11354

Building Details

Architectural style

Other

Listing agent Steve Zhu

Listing office Compass 3rd floor 90 Fifth Avenue, 3rd Floor, New York, NY Show Phone

Listing date Jun 17, 2025

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MLS# 11519410

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Investment Insights

Based on property information with market context.

This offering is a package of three adjacent mixed-use buildings with redevelopment potential. The property is situated in an R7-1 zoning district with an FAR of 4.8, supporting future residential expansion or repositioning. Currently, there are 6 free market residential units, all of which are leased at more than 20% below market rent, creating an opportunity to align rents over time while maintaining occupancy.

The buildings are located at 148-04 35th Avenue in Queens, NY 11354, in the heart of Downtown Flushing. The site is presented as part of a multi-building footprint, giving an owner control of contiguous structures for long-range planning.

For investors or developers looking for a multi-building residential redevelopment platform, the combination of R7-1 zoning, a stated FAR of 4.8, and existing leased units can support a strategy that balances near-term tenancy with repositioning of the residential income stream. As presented, the asset offers a straightforward path to evaluate redevelopment options while retaining stable occupancy during planning and implementation.

Key Highlights

• Package of 3 adjacent mixed‑use buildings in Downtown Flushing (Queens)
• R7‑1 zoning district with FAR 4.8
• Includes 6 free‑market residential units

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FAQs

What type of property is this?

Apartment building - Three adjacent mixed-use buildings in an R7-1 district with FAR 4.8 for redevelopment or repositioning.

Where is this apartment building located?

The property is located at 148-04 35th Avenue Queens, NY.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: Package of 3 adjacent mixed‑use buildings in Downtown Flushing (Queens); R7‑1 zoning district with FAR 4.8; Includes 6 free‑market residential units