21-02 44th Drive
Queens, NY
Overview
Summary
- Lot Size 6,700 SF
- Zoning M1-4 / R7A
- Proposed Development ZFA 40,334
- Asking Price Request for Proposals
Avison Young, as the exclusive agent, is pleased to offer for long-term ground lease (the “Site”) 21-02 44th Drive, a 67.5’ x 100’ lot located on the southeast corner of 44th Drive and 21st Street in Long Island City. The Site is currently improved by a one-story retail building totaling 6,000 square feet. It is zoned M1-4/R7A, which allows for a 4.0 FAR, or 26,800 ZFA, and up to 5.01 FAR with a UAP housing bonus, for a total of 33,567 ZFA.
Additionally, the Site falls within the One LIC Neighborhood Plan, a proposed rezoning that would upzone the lot to R8 and allow for a 6.02 FAR, totaling 40,334 ZFA.
Highlights
Sought-After Neighborhood
40% Population Increase
6.2% YoY Increase in Median Rent
Projected Rental Growth Over Next 5 Years
Scenic Waterfront Parks
15-Minute Commute to Midtown
Proximity to E G M 7 Subway Lines
Proximity to Q67 and Q62 Buses
