306 Beach 68Th St Far Rockaway, NY 11692

This exceptional 11,150 square foot lot, located at 306 Beach 68th Street in Far Rockaway, Queens, NY 11692, presents a unique investment opportunity. The property encompasses lots 24 and 73, boasting a substantial 200-foot frontage and 59-foot depth along Beach 67th and Beach 68th Streets. Currently zoned R5/R5A, this site offers significant potential for development. Subject to architectural review, residential development could yield approximately 15,000 buildable square feet, while community facility usage could reach up to 24,000 buildable square feet. The property's prime location within the rapidly developing Arverne by the Sea neighborhood, with its new residential, commercial, and restaurant offerings, makes it highly attractive. The area's demand for affordable housing and community facilities, such as medical centers or schools, further enhances the property's value. The NYC YES program and proximity to public transportation may allow for an increased Floor Area Ratio (FAR). This presents a compelling opportunity for investors and developers seeking a high-impact project in a thriving coastal community. The asking price is $1,250,000.