18-70 Grv St Queens, NY 11385

Property Details for 18-70 Grv St

Year built

1910

Property size

2,000 SF

Property type

Commercial real estate

Description

This exceptional redevelopment opportunity presents a vacant three-family home situated on a 2,500 square foot lot in desirable Ridgewood, Queens. Listed at $1,399,000, this property offers significant potential for investors and developers. The existing structure, built in 1910, is a two-story building with a 2,000 square foot footprint and requires complete renovation; the interior has been fully gutted. However, approved plans are already in place, streamlining the development process. The property boasts a built-in garage, a spacious backyard, and a separate back house, both of which also need complete renovation. Conveniently located near public transportation, including the M train at Seneca Avenue and the L/M trains at Myrtle-Wyckoff Avenue, this property is just blocks from Myrtle Avenue's vibrant shops and restaurants. The zoning is R5B, with a 25' x 100' lot and a 25' x 39' building footprint. The current FAR is 0.8, with a maximum FAR of 1.35. Annual property taxes are $6,217. This is a rare chance to acquire a property in a prime location with significant upside potential. The price per unit is $466,333.33, and the price per square foot is $699.50. The property is currently vacant. This is a unique opportunity for those seeking a substantial project in a thriving neighborhood.