44-68 Vernon Boulevard
Property Description
BKREA has been retained on an exclusive basis to arrange the sale of 44-68 Vernon Boulevard, a prime corner development opportunity in Long Island City. The property benefits from three-sided frontage, including 82 feet on Vernon Boulevard, 154.8 feet on 45th Avenue, and 132.1 feet on 44th Drive, providing excellent access, visibility, and flexibility for a variety of development strategies. The site consists of approximately 13,254 square feet of land area and, under the approved OneLIC rezoning, is designated as M1-5A/R8 mixed-use. This zoning allows for a maximum Floor Area Ratio (FAR) of 7.8, supporting a total buildable area of approximately 103,381 square feet. The Site is in an Opportunity Zone, bringing substantial tax incentives. Just steps from the waterfront, the property is poised to benefit as adjacent sites are developed into a premier extension of the existing Long Island City shoreline, introducing new residential, retail, and cultural uses. The site is ideally suited for a mid-rise residential project, a form optimized for efficient construction and for seamlessly integrating the Mandatory Inclusionary Housing (MIH) requirement on-site. With strong demand for both rental and condominium product in Long Island City, and immediate access to Court Square and the Vernon Boulevard–Jackson Avenue subway station, the property represents a significant development opportunity in one of New York City’s most dynamic growth corridors.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Land/Development |
| Lot Size: | 2.37 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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