11-11 44th Rd
15,200 SF 100% Leased Office Building Long Island City, NY 11101 $10,950,000 ($720/SF) 5.70% Cap Rate
INVESTMENT HIGHLIGHTS
- This property is situated in the soon to be a very burgeoning area of Long Island City's Hunters Point, known for its significant growth potential.
- The spacious open lofts can be easily divided or combined with adjacent units, allowing for flexible design options and the creation of larger spaces
- Great sunlight with very large windows
EXECUTIVE SUMMARY
Your Space New York has been retained on an exclusive basis to arrange for the sale of 11-11 44th Road Long Island City, Hunters Point, Queens.
This exceptional investment opportunity, in the rapidly developing Hunters Point area of Long Island City. The property consists of 12 loft units each a with private bathroom, and 2 retail units on the ground floor. There is an indoor garage with 10 parking spaces. The property is in the process of being rezoned, and it is positioned for significant growth. The building features high ceilings and expansive floor-to-ceiling windows. These lofts are highly desirable, with the building boasting an exceptionally low vacancy rate, low taxes, with a tax abatement. The building is also ideal for owner-user. This property represents a compelling investment opportunity. * The building was built from the ground up for expansion of commercial or residential.
*City of Yes Development package got a "yes" from the city council on the December 6th City of Yes alone with The OneLIC Rezoning process to be finalized in 2025 to M2-3A zone. Other possibilities may be available like office to residential, mixed use. Check with zoning specialist.
Contact Exclusive Broker
Your Space New York
Craig Stulberger, for building setup
This exceptional investment opportunity, in the rapidly developing Hunters Point area of Long Island City. The property consists of 12 loft units each a with private bathroom, and 2 retail units on the ground floor. There is an indoor garage with 10 parking spaces. The property is in the process of being rezoned, and it is positioned for significant growth. The building features high ceilings and expansive floor-to-ceiling windows. These lofts are highly desirable, with the building boasting an exceptionally low vacancy rate, low taxes, with a tax abatement. The building is also ideal for owner-user. This property represents a compelling investment opportunity. * The building was built from the ground up for expansion of commercial or residential.
*City of Yes Development package got a "yes" from the city council on the December 6th City of Yes alone with The OneLIC Rezoning process to be finalized in 2025 to M2-3A zone. Other possibilities may be available like office to residential, mixed use. Check with zoning specialist.
Contact Exclusive Broker
Your Space New York
Craig Stulberger, for building setup
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
15,200 SF
Building Class
B
Year Built
2009
Price
$10,950,000
Price Per SF
$720
Cap Rate
5.70%
NOI
$624,150
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
3,800 SF
Building FAR
2.05
Lot Size
0.17 AC
Zoning
M1-4 to M2-3A - The ONE LIC Rezoning process to be finalized in 2025 to M2-3A zone. F.A.R will go to 4.0 which will allow for an additional 15,200 SF to30,400SF.
Parking
15 Spaces (0.66 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Restaurant
- Skylights
- Roof Terrace
- Air Conditioning
- Balcony
- Fiber Optic Internet
- Smoke Detector
1 of 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 00446-0023 | Improvements Assessment | $952,020 |
| Land Assessment | $303,750 | Total Assessment | $1,255,770 |
