Cushman & Wakefield Retained Exclusively to Sell Property with Development Potential in Long Island City
Cushman & Wakefield has been retained on an exclusive basis to sell a property at 5001-5009 27th Street. The property is located between 49th and 50th Avenues in the Long Island City neighborhood of Queens. Ownership is requesting proposals.
The property currently consists of a two-story building containing approximately 26,113 square feet on a 120’ x 320’ irregular lot. Zoned M3-2 with a maximum FAR of 2.0, the total buildable square footage is 200,518, or an additional 174,863 square feet of development rights.
The property features direct access to all of New York City’s major distribution channels including the Pulaski Bridge, Long Island Expressway, Midtown Tunnel, and Brooklyn Queens Expressway as well as barge and rail ports.
“This area is quickly emerging and its close proximity to several mega-projects as well as transportation options makes this an extremely appealing site for both users and investors,” said Cushman & Wakefield’s David Chkheidze, who is exclusively marketing this property with Conrad Martin.