Current Use by Public Records
- Office Spaces
Property Details for 42-40 Crescent St
- Property type
- Office Spaces
Description
This exceptional investment opportunity presents a vacant, two-story commercial building situated in the highly desirable Hunters Point neighborhood of Long Island City, New York. The property, located at 42-40 Crescent Street, boasts a total of 5,000 square feet across its two floors. Its strategic location within this thriving area offers significant potential for immediate occupancy or substantial redevelopment. Currently zoned R7, the property allows for a significant expansion, with the potential to increase the total buildable square footage to 11,250 square feet. This presents a unique opportunity for developers to capitalize on the area's robust growth and high demand for commercial space. The asking price for this prime Long Island City property is $4,250,000. The property's address is 42-40 Crescent Street, Long Island City, NY 11101. This presents a rare chance to acquire a well-positioned asset in a rapidly developing market, offering both immediate income potential and substantial long-term growth prospects. The property's location in the heart of Hunters Point provides easy access to major transportation arteries, making it an attractive location for a wide range of businesses. This is a truly exceptional opportunity for savvy investors seeking a high-return investment in a prime New York City location.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Long Island City
- County
- 36061
- State
- New York
- Longitude
- -73.9417
- Latitude
- 40.7497
