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25-16 37th Avenue, LIC,
Queens, NY

Closed
$14,120,000

Overview

Bankruptcy Sale

25-16 37th Avenue, LIC,
Queens, NY

7 53,954 SF

Description

25-16 37th Avenue is a 53,954 SQF early construction development in Long Island City, just 20 minutes from Manhattan and blocks to the N, W and F subway stations. Upon completion, the project will consist of thirty-eight (38) residential units as well as 15,371 SF of retail and office space on the first and second floors. In addition, the building will contain a 29-car parking garage, 45 storage units and 10 roof top cabana units. $18MM+ has been spent to date on development and land acquisition. The site is fully excavated and includes two cellars. Deep foundation work done allowing for parking. Support of excavation, rakers, tie backs, piles, caps, bracing systems, first foundation wall and underpinnings are fully completed. Concrete column, stair and elevator footings completed, and concrete column formwork is in place. A partial cellar slab has been formed and rebar is in place.

Property Snapshot

  • 53,954 SQF mixed-use development
  • 421-A full benefit tax abatement
  • Qualified Opportunity Zone
  • Approved plans for:
    » 38 residential condos
    » 15,371 SQF of retail/commercial/manufacturing space
    » 29-Car parking garage
  • $18MM+ spent to date on development and land acquisition:
    » Site is fully excavated and includes two cellars.
    » Support of excavation and bracing systems and underpinnings fully completed.
    » Concrete column and stair and elevator footings completed, and concrete column formwork is in place.
    » Partial cellar slab has been formed and rebar is in place.

Documents

Area Map

Description

25-16 37th Avenue is a 53,954 SQF early construction development in Long Island City, just 20 minutes from Manhattan and blocks to the N, W and F subway stations. Upon completion, the project will consist of thirty-eight (38) residential units as well as 15,371 SF of retail and office space on the first and second floors. In addition, the building will contain a 29-car parking garage, 45 storage units and 10 roof top cabana units. $18MM+ has been spent to date on development and land acquisition. The site is fully excavated and includes two cellars. Deep foundation work done allowing for parking. Support of excavation, rakers, tie backs, piles, caps, bracing systems, first foundation wall and underpinnings are fully completed. Concrete column, stair and elevator footings completed, and concrete column formwork is in place. A partial cellar slab has been formed and rebar is in place.

Property Id : 38915
Price: $ 14,120,000
Property Size: 53 ft2

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