50 Unit Residential Property, Queens, NY

$16,500,000
For Sale

2668

Property ID

Description

Vanderbilt Realty is pleased to exclusively represent the property located at 142-27 Barclay Avenue, Flushing, New York. The subject property is a six-story elevator
apartment building constructed in 1962 and contains a total of 50 units of which 28 are free market, 7 RS PREFERENTIAL units and 15 are rent stabilized. There are 26
studios, 12 very large studios (convertible to one bedrooms) and 12 two-bedroom apartments. The property is situated on a 75 by 122-foot parcel of 9,150 square feet. The
property lies in an R7-1 zone (3.44 FAR), and contains 40,991 gross square feet, and is overbuilt. There is a 15-car garage and a laundry room for the tenants.
The property is a half-mile from the Main Street Flushing #7 train subway station. The #7 train runs from the Main Street stop to the recently extended #7 train line which now
terminates at the 34th Street Hudson Yards stop. The #7 express train during rush hour is a 25-minute ride to Grand Central station. The Long Island Railroad Main Street
station also services Flushing which runs on the Port Washington branch, with service to Penn Station in approximately 20 minutes. The station is part of the L.I.R.R.’s
CityTicket, and is in Zone 3. In addition, there are major bus routes (Q44, Q20A, Q20B) along Main Street, Roosevelt Avenue and Kissena Boulevard. Many other buses travel
through or terminate in this area of Queens as well. The property is a seven-minute walk to both the Metropolitan Transportation Authority (MTA) and Long Island Rail Road
(LIRR) Main Street stations.
Flushing is the fourth most populated community in The City of New York and is home to a diverse ethnic population. Additionally, it is home to many sports and cultural
facilities including: Citifield, Queens Botanical Gardens, The Queens Museum, Flushing Meadow Corona Park (Home to the United States Tennis Open) as well as Flushing
Town Hall (a stately 1862 Romanesque Revival building), and the Queens Historical Society. Downtown Flushing is also a destination point for its diverse shopping and dining
experience.

Address

  • Property ID 2668
  • Price $16,500,000
  • Property Type Multifamily
  • Property status For Sale
  • Year Built 1962
  • Land area 0.21 Acres
  • Number of Units 50

Contact

Anthony Fornabaio

Property Seller
516-231-1031
anthony@vanderbiltre.com
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