$2,700,000*
●
Land -
Off Market
34-60 12th Street
Long Island City, NY 11106
Studio
0 Bath
$2,430,000 - $2,970,000
Reference Base Price*
0.00%
Since Dec 1, 2023
NY-New York
Primary Model
About This Property
Presenting an exceptional investment opportunity located at 34-60
12th Street in the highly sought-after neighborhood of Long Island
City. This prime parcel of land measures 6,147 square feet and is
strategically positioned on a corner lot, providing optimal light
and air for any future building. Zoned R5 Infill, this property
boasts a Residential Floor Area Ratio of 1.65, allowing for a
market rate residential development of 10,142 square feet.
Additionally, the site is currently generating substantial income
as it is tenanted until 12/31/26, with an annual gross income of
$118,000, resulting in a net income of approximately $100,000
peryear. There is a 382 square feet lot nestled between the subject
property and the street. This lot has an easement on it for the
subject property's use, enhancing the overall development
possibilities. Its proximity to various modes of
transportation, including subway and bus services, adds to
its appeal. The surrounding area has recently experienced
rezoning, allowing for significantly higher Floor Area
Ratios, making this property a lucrative investment
opportunity for real estate developers.Don't miss the chance
to capitalize on this prime location, strategically positioned
within a growing and dynamic neighborhood, and seize the potential
for a substantial residential development at 34-60 12th Street,
Long Island City.
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1930
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Nov 6, 2023 | No longer available | - | |
No longer available | |||
Oct 2, 2023 | Listed | $2,700,000 | |
Listed |
Property Highlights
Building Info
Overview
Building
Neighborhood
Zoning
Geography
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Commercial
Loft
-
-
$2,107,000
Jan 3, 2023
$2,107,000
Oct 3, 2023
$3,428/mo
Sold
Multifamily
6
Beds
6
Baths
-
$2,520,000
Apr 23, 2022
$2,520,000
Sep 19, 2022
$1,681/mo
Condo
3
Beds
3
Baths
1,867 ft²
$1,312/ft²
$2,450,000
May 1, 2018
$2,450,000
Oct 2, 2018
$5,370/mo
Active
Condo
3
Beds
3
Baths
2,479 ft²
$1,129/ft²
$2,800,000
Mar 17, 2023
-
$8,889/mo