49-39 Van Dam St Queens, NY 11101

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.