Cushman & Wakefield Retained Exclusively to Sell Development Site in Long Island City
Cushman & Wakefield has been retained on an exclusive basis to sell a development site at 45-57 Davis Street. The property is located between Jackson and Skillman Avenues in the Long Island City neighborhood of Queens. The asking price is $34,000,000, which equates to approximately $314 per buildable square foot.
Located within M1-5, R7-3, and LIC zoning districts, the site holds approximately 108,000 buildable square feet on a 216’ x 100’ lot. The site consists of three tax lots and currently holds a two-story building containing approximately 19,912 square feet.
The property is ideally situated across the street from 5 Pointz and is adjacent to Court Square. Additionally, the site is in close proximity to multiple subway lines, as well as the LIRR. The prime location of this site offers an excellent opportunity for future residential development.
“This site is situated directly across the street from 5 Pointz and many of the major new developments in the neighborhood,” said Cushman & Wakefield’s Stephen R. Preuss, who is exclusively marketing this property with David Chkheidze. “This pocket of Long Island City gives a developer the opportunity to be situated near many of the developments that will drastically change the landscape of the area,” said Chkheidze.