11-11 44th Rd
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11-11 44th Rd
14,764 SF 100% Leased Office Building Long Island City, NY 11101 $10,950,000 ($742/SF) 5.70% Cap Rate
Investment Highlights
- This property is situated in a 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. This will be a rapidly developing Hunters Point area of Long Island City. The property located at 11-11 44th Road has 12 loft units with private bathrooms, and 2 retail units on the ground floor. There is an indoor garage with 10 parking spaces. With the property in the process of being rezoned, it is positioned for significant growth. The building features high ceilings and expansive floor-to-ceiling windows. These lofts are highly desirable. The building boasts an exceptionally low vacancy rate, and low taxes with a tax abatement. The building is also ideal for owner-user. With an impressive cap rate of 5.7% at the asking price. 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.
Contact Exclusive Broker
Your Space New York
Craig Stulberger, for building setup
This exceptional investment opportunity. This will be a rapidly developing Hunters Point area of Long Island City. The property located at 11-11 44th Road has 12 loft units with private bathrooms, and 2 retail units on the ground floor. There is an indoor garage with 10 parking spaces. With the property in the process of being rezoned, it is positioned for significant growth. The building features high ceilings and expansive floor-to-ceiling windows. These lofts are highly desirable. The building boasts an exceptionally low vacancy rate, and low taxes with a tax abatement. The building is also ideal for owner-user. With an impressive cap rate of 5.7% at the asking price. 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.
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
14,764 SF
Building Class
B
Year Built
2011
Price
$10,950,000
Price Per SF
$742
Cap Rate
5.70%
NOI
$624,150
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
7,198 SF
Building FAR
1.99
Land Acres
0.17 AC
Zoning
M1-4 - Rezoning process to be finalized in Feb.2025 to M2-3A zone. This will double F.A.R to 4.0 which will allow for an additional 15,200 SF to 30,400 SF.
Parking
10 Spaces (0.68 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
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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 |
PROPERTY TAXES
Parcel Number
00446-0023
Land Assessment
$303,750
Improvements Assessment
$952,020
Total Assessment
$1,255,770
-
Craig Stulberger -
Your Space New York
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11-11 44th Rd
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