New Three-Family Residence in
37-02 Francis Lewis Boulevard Bayside, NY 11361
37-02 Francis Lewis Boulevard, Bayside, NY, 11361
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For Sale
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New construction three-family residence near LIRR, stores, and restaurants.
Property Size3,257 SF
Price / SF$736.53
Days on Market525
Property Features for 37-02 Francis Lewis Boulevard
General Information
- Standard status
- Active
- Size
- 3,257 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing agency
Luxian International Realty
(917) 567-8767
Listed by
Luciane Serifovic · License #10491208575
Source
Crexi
Added: Feb 11, 2025 Updated: Jul 6 at 8:03AM Checked: Jul 20 at 5:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Luxian International Realty
Investment Insights
Based on property information with market context.
This new construction three-family residence is located in Bayside, just two blocks from the Long Island Rail Road and near stores and restaurants. The property features three units. Unit 1 is a 2-bedroom duplex with 1.5 baths, a private backyard with parking, and a cellar. The unit size is approximately 1,806 sqft (903 sq ft plus 903 cellar). Unit 2 features 3-bedrooms, 1.5 baths, and two private balconies, with an approximate size of 986 sqft. Penthouse 3 is a 3-bedroom duplex with 2-baths, high cathedral ceilings, an extra-large lofty area, two balconies, and a private terrace. The penthouse has approximately 1393 sqft of living space (986 sq ft on the Third Floor + 407 sq ft 4th floor loft). The property has 12-inch thick walls, extra insulation, and double-pane windows for energy efficiency. The property is under construction, and under-construction pricing expires March 1st.
Key Highlights
- Prime Bayside location: Two blocks from the Long Island Rail Road, near stores and restaurants, with access to Manhattan.
- New three‑family residence built in 2024, offering immediate rental income potential.
- First Floor Unit (Duplex): Features 2 bedrooms, 1.5 baths, private backyard with parking, and a spacious layout (approx. 1,806 sqft).
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $150.5k | $46.20 |
| − Vacancy | −$5.7k | −$1.76 |
| EGI | $144.8k | $44.44 |
| − OpEx | −$65.1k | −$20.00 |
| NOI | $79.6k | $24.44 |
3,257 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$995.2K – $1.33M
NOI $79,615 @ 7.0% cap · market cap 3.32%
Second Best
Multifamily LT 5
$770.1K
$673.9K – $898.5K
NOI $53,909 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,077 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - New construction three-family residence near LIRR, stores, and restaurants.
Where is this triplex located?
The property is located at 37-02 Francis Lewis Boulevard Bayside, NY.
What is the asking price?
The asking price for this property is $2,398,888.
What are key features of this property?
This property features: Prime Bayside location: Two blocks from the Long Island Rail Road, near stores and restaurants, with access to Manhattan.; New three‑family residence built in 2024, offering immediate rental income potential.; First Floor Unit (Duplex): Features 2 bedrooms, 1.5 baths, private backyard with parking, and a spacious layout (approx. 1,806 sqft).
