Up to 56,726 sf Development Site in Woodside For Sale
Description
68-09 Queens Boulevard: A Premier Development Opportunity in Woodside
Presented for sale is a development opportunity at 68-09 Queens Boulevard in Woodside, Queens, a prime corner lot with significant street frontage on two streets. This 8,819 square foot vacant site is poised for a residential and commercial development, offering high investment desirability due to strong submarket fundamentals and a strong residential market characterized by steady net effective rent growth.
Strategic & Prime Location with Great Accessibility:
This transit-oriented location offers excellent connectivity, ensuring an easy commute for future residents and patrons. Immediate access to multiple subway lines, numerous bus routes, and the Long Island Rail Road ensures convenient travel across Queens and to Manhattan. The property benefits from immediate interstate access, being adjacent to Grand Central Parkway and the Brooklyn-Queens Expressway, and offers easy routes to both LaGuardia and JFK airports.
Development Potential and Flexibility:
The property is zoned R7X / C2-3, providing development flexibility. A recent zoning analysis confirms the following buildable square footage:
• 47,724 square feet plus 8,762 sf cellar, for a total of 56,486 bsf can be developed without the inclusion of an affordable housing component.
• 56,726 square feet plus 8,762 sf cellar, for a total of 65,488 bsf is achievable with the integration of an affordable housing element, offering an incentive for maximizing density.
The R7X zoning district, a medium-density residential contextual zone, typically supports multifamily residential buildings under the Quality Housing Program, which promotes the construction of higher-quality, often taller, structures. The C2-3 commercial overlay permits a broad range of local retail and service uses, ideal for ground-floor commercial space that complements the residential component.
Strong Submarket and Neighborhood Development:
Investing in 68-09 Queens Boulevard represents an opportunity to capitalize on Woodside’s strong demand and long-term value appreciation. The strong residential market in Woodside, coupled with consistent rent growth, underscores the financial viability of a new development. Queens Boulevard has seen significant real estate activity. Recent and ongoing projects include mixed-use developments that are revitalizing the corridor. This development site is poised for the creation of a residential and commercial property that will benefit from its vibrant community and accessibility.
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Area Profile
Western Queens (LIC, Astoria, Maspeth, Woodside)
The Western Queens area, including neighborhoods like Long Island City, Maspeth, Astoria, & Woodside, has long been a significant industrial hub in Queens, known for its mix of manufacturing, warehousing, and distribution centers as well as its proximity to Manhattan. Despite residential rezoning along the waterfronts in Long Island City and Astoria, Western Queens still retains a substantial industrial presence and has further evolved into a major hub for the film and television industry.
Maspeth in particular has remained a predominantly industrial area. As the geographic center of New York City, is a strategic location for logistics, distribution and warehousing as well as heavy manufacturing.
Proximity to Major Highways: Strategically located near major highways such as the Long Island Expressway (I-495), Brooklyn-Queens Expressway (I-278), and Grand Central Parkway.
Access to Bridges and Tunnels: Convenient access to several key bridges and tunnels, including the Queensboro Bridge (59th Street Bridge), Triborough Bridge (Robert F. Kennedy Bridge), and Queens-Midtown Tunnel.
Public Transportation Hubs: Served by multiple subway lines (such as the 7, N, W, E, M, R) and bus routes, providing residents and workers with extensive public transportation options.
Proximity to Airports: Close to LaGuardia Airport, one of New York City's major airports, facilitating convenient access for businesses involved in logistics and transportation.
Zoning
C2-3 Zone
C Zones
In New York City, areas designated as C-zoned primarily allow for commercial uses. Here's a summary of C-zoned areas across the city:
1. Purpose and Zoning Regulations:
- C-zones are intended for commercial activities, including retail stores, restaurants, offices, hotels, and entertainment venues.
- These zones are regulated by zoning laws to control building heights, density, signage, and other factors to ensure compatibility with surrounding areas and minimize negative impacts on neighborhoods.
2. Types of C-zones:
- C1-C8 Zones: These zones vary in intensity and are categorized based on the scale of commercial activity they permit. For example:
- C1 zones are typically smaller-scale commercial districts found within residential neighborhoods, allowing for local retail and service establishments.
- C4 and C5 zones are higher-intensity commercial districts found in major commercial corridors, allowing for larger-scale retail, office, and mixed-use developments.