This offering consists of a package of 3 adjacent mixed-use buildings with substantial redevelopment potential, located
in the heart of Downtown Flushing—one of Queens’ fastest-growing neighborhoods.
The subject property sits in an R7-1 zoning district with an FAR of 4.8, making it a prime development site for future residential expansion or repositioning.
Currently, all residential units are leased at more than 20% below market rent, offering investors a clear value-add opportunity through rental adjustments. With stable tenancy, underutilized income, and long- term development upside, this asset offers both immediate cash flow and significant future growth potential.
As part of a 3-building package, this is a rare opportunity to acquire a strategic footprint in a high-demand urban core with strong connectivity and sustained market momentum.
Property Features
Utilities
Natural Gas Available
Cable Connected
Electricity Connected
Natural Gas Connected
Cooling Information
Multi Units
Heating Information
Natural Gas
Water Features
Public
Basement
Full
Listing Courtesy: Compass Greater NY LLC - 212-913-9058