Queens, NY The CBRE team of Richard Karson, Joshua Kleinberg and Elli Klapper has been appointed the exclusive agent for a 90-year net lease/joint venture opportunity in Long Island City at 9-03 44th Rd. The well-located land parcel boasts water views and is ideally zoned for M1-4 redevelopment, ideal for the creation of up to 275,000 s/f of mixed-use facilities including a combination of commercial, school, community, entertainment and medical/hospital.
“Over the past few years, Long Island City has undergone a major transformation and is today one of the hottest residential neighborhoods in the city,” said Kleinberg. “However, due to the conversion of a significant amount of the existing commercial properties to residential use, there are very few opportunities for commercial development the caliber and quality of 9-03 44th Rd.”
Karson said, “We are excited to be marketing such a unique land parcel for a net lease or joint venture development opportunity.”
The flexibility provided by this site is quite unique for LIC as it can be developed into an 84,000 s/f office property or can combine various uses that total 275,000 ft. (office, medical, community-use center, storage facility, retail or an entertainment complex).
Totaling 42,300 s/f, the site has incredible frontage on four streets, city and water views and is within walking distance to the Court Square, the Ed Koch Queensboro Bridge and the Queensboro Plaza subway station, which is currently being renovated by the NYMTA and is slated to become part of the LaGuardia Airport Access project – a major addition to New York City’s infrastructure. The land parcel also benefits from the $76 million Queens Plaza renovation with its improved traffic circulation and pedestrian/bicycle access while beautifying the neighborhood and adding a 1.5-acre public park.
It is in close proximity to a number of parks and museums situated throughout Long Island City.