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    49-39 Van Dam St Queens, NY 11101

    For Sale
    $10,750,000

    Prime Queens location, redevelopment potential.

    Property size:
    18,154 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional redevelopment opportunity presents a unique chance to acquire two lots totaling 20,890 square feet at the corner of Van Dam Street and Borden Avenue in Long Island City, Queens, New York (zip code 11101). The property, encompassing 49-39 and 49-65 Van Dam Street, offers significant potential for future development. Currently, the site boasts 18,154 square feet of existing building space and substantial air rights of 43,780 square feet. The asking price is $10,750,000, translating to $592.16 per square foot. The property is zoned M2-1, allowing for a wide range of uses, including those specified in Zoning Resolution sections 41-12 and 32-15 to 32-23. These permitted uses encompass groups 3A, 6A, 6C, 6B, 6D, 6F, 7B, 7C, 7D, 7E, 8, 9A, 9B, 9C, 10A, 10B, 10C, 11, 12A, 12B, 12C, 12D, 12E, 13, 14, and 16. The property consists of two units and is offered under a NNN lease type with multi-tenancy. This is a rare opportunity, as the property has been held by the same family for 45 years and is now being offered for sale for the first time. The property's location in Long Island City provides excellent access to transportation and amenities. This is an ideal investment for developers seeking a prime location with flexible zoning and significant development potential.

    Property Features for 49-39 Van Dam St

    General Information

    Property type
    Self storage facilities
    Square Feet
    18,154 SF

    Building Details

    Units
    2

    HighLights

    • Exceptional redevelopment opportunity in Long Island City, Queens.
    • Two lots totaling 20,890 square feet at 49‑39 and 49‑65 Van Dam Street.
    • 18,154 square feet of existing building space plus 43,780 square feet of air rights.
    • $10,750,000 asking price ($592.16 PSF).
    • M2‑1 zoning allows for diverse uses (see Zoning Resolution sections 41‑12 and 32‑15 to 32‑23 for details).
    Property Profile Location Intelligence

    Current Use by Public Records

    JPB ENTERPRISES, INC. Property Management Company

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing 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
    -73.9345449
    Latitude
    40.7382284

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    FAQs

    What type of property is this?
    Self storage facility - Prime Queens location, redevelopment potential.
    Where is this self storage facility located?
    The property is located at 49-39 Van Dam St Queens, NY.
    What is the asking price?
    The asking price for this property is $10,750,000.
    What are key features of this property?
    This property features: Exceptional redevelopment opportunity in Long Island City, Queens.; Two lots totaling 20,890 square feet at 49-39 and 49-65 Van Dam Street.; 18,154 square feet of existing building space plus 43,780 square feet of air rights.
    Request Owner's contact information
    49-39 Van Dam St Queens, NY 11101
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    Queens, NY 11101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    49-39 Van Dam St Queens, NY 11101
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