148-04 35th Avenue, Queens, NY 11354

Building Details

Architectural style

Other

Listing agent Steve Zhu Show Phone

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

Listing date Jun 17, 2025

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MLS# 11519410 Listing URL

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Overview

This offering consists of a package of three adjacent mixed-use buildings in Queens. The property is currently configured with six free-market residential units, all of which are leased. The total building area is listed at 5,368 square feet. The site is being marketed as having substantial redevelopment potential based on its governing zoning and development capacity.

The buildings are located at 148-04 35th Avenue in Downtown Flushing, Queens. The property sits in an R7-1 zoning district with a stated FAR of 4.8, which provides a clear framework for future residential expansion or a repositioning strategy in line with the district’s development allowances.

For tenants, buyers, and operators, this is a practical acquisition that pairs existing income with development planning parameters. With all six units leased and the remarks indicating rents are more than 20% below market rent, the current operational profile supports a near-term focus on performance while evaluating redevelopment options consistent with the R7-1, FAR 4.8 capacity. As part of a three-building package, it also offers a consolidated footprint for an acquirer interested in controlling adjacent properties within a single transaction.

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Queens

County

Queens

State

New York

Longitude

-73.939548

Latitude

40.7626

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FAQs

What type of property is this?

Apartment building - Package of three adjacent mixed-use buildings with R7-1 zoning and capacity FAR 4.8 for redevelopment.

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 with FAR of 4.8; Includes 6 free‑market residential units, all currently leased