Address: 21-02 44th Dr, Long Island City, NY 11101, USA
- 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
Property Description
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.