A Few More Details on the Large Avery Avenue Sale in Flushing

In October, we caught an $11,250,000 sale along Avery Avenue between College Point Boulevard and 131st Street for four different commercial properties. Turns out Marcus & Millichap was in charge of the sale, and a few more details popped up on Real Estate Weekly yesterday. The 86,560-square-foot property sold at $130 per buildable square foot. The seller actually spent six years working to rezone the block; the site just had its zoning changed to C2-6A with an FAR of 4. According to a Marcus & Millichap broker, “This allows for various commercial and residential uses and increased the potential development size of the lot to 86,560 square feet, doubling the buildable square footage from its previous zoning.” So far, there is no hint on DOB records of what development is to come.

MARCUS & MILLICHAP: Queens Site Goes for $11.25M [REW]
Big Commercial Sale in Flushing [Q’Stoner] GMAP