Cushman & Wakefield Retained Exclusively to Sell Prime Corner Development Site in Elmhurst
Cushman & Wakefield has been retained on an exclusive basis to sell a development site at 86-55 Queens Boulevard. The property is located on the corner of Queens Boulevard and 55th Avenue in the Elmhurst neighborhood of Queens. Ownership is requesting proposals.
The property currently consists of an approximately 6,000 square foot diner on a 21,552 square foot lot. It features approximately 70.81’ of frontage on Queens Boulevard and 205.5’ of frontage on 55th Avenue, directly across from the Queens Place Shopping Mall. The property is located in a C4-2 zoning district and benefits from approximately 49,980 square feet of development rights.
The property is adjacent to the most active retail corridor in Queens and is near Queens Center and Queens Place Mall. It is in close proximity to the Long Island Expressway, Grand Central Parkway, Van Wyck Expressway, and Brooklyn-Queens Expressway. It is also one block from the M and R subway lines at Grand Avenue as well as numerous bus lines.
“As Queens continues to flourish with approximately 10,000 residential units coming to market, Elmhurst has solidified its reputation as a highly trafficked enclave benefiting from rising rents, which has resulted in opportunistic retail development,” said Cushman & Wakefield’s Stephen P. Palmese, who is exclusively marketing this property with Thomas A. Donovan. “Not only does 85-55 Queens Boulevard offer immediate access to multiple lines of transportation, it is adjacent to the popular Queens Place Mall, making the property a truly remarkable development opportunity,” said Donovan.