Current Use by Public Records
- Retail properties & Spaces
Property Details for 42-40 Crescent St
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional redevelopment opportunity presents a vacant two-story commercial storefront building situated in the highly desirable Hunters Point neighborhood of Long Island City, Queens. The property, located at 42-40 Crescent Street, boasts a total existing square footage of 5,000 square feet, currently zoned R7-3. The asking price is $4,250,000, translating to $850 per square foot. A significant advantage lies in the substantial air rights, totaling 6,250 square feet, allowing for a substantial expansion. With the permitted zoning, the property offers a total buildable area of 11,250 square feet, presenting significant potential for a developer seeking to maximize the site's potential. The lot itself encompasses 2,240 square feet. This prime location in Long Island City offers unparalleled access to transportation, amenities, and a thriving commercial landscape, making it an ideal investment for discerning buyers seeking a high-return redevelopment project. The property's current vacant status provides immediate opportunity for customization and development to suit a wide range of commercial uses. This is a rare chance to acquire a significant property in a rapidly appreciating market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9417
- Latitude
- 40.7497
