Modern Spaces Commercial + Investment Division has been exclusively retained to arrange for the sale of an exceptional development site located at 30-25 Queens Boulevard,
29-00 Northern Boulevard, and 29-14 Queens Plaza East (“QPX”) in Long Island City. QPX spans three tax lots encompassing 25,177 square feet of land along the corner of
Queens Boulevard and Northern Boulevard.The current owners have arranged for a ZLDA from neighboring properties to allow for an additional 117,328 buildable square feet to be ready for use by another developer.
The site, therefore, allows for a total of approximately 419,428 buildable square feet for residential or mixed-use development.Situated adjacent to Sunnyside Yards in the back and unobstructed views over the 59th Street Bridge into Manhattan in the front, this is remarkably the most prime development site in Queens Plaza and one of the only pieces of land left to develop. The location benefits from a strong condominium market and a neighborhood where rapid absorption has substantially fostered rent growth and record-setting prices per square foot.
Transportation is also convenient with the closest subway station at the corner. New retail and commercial business in neighboring buildings will only drive the potential value here by further connecting the streets into a live, work, play community.
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