This offering presents a rare opportunity to acquire a package deal that includes the adjacent property at 40-37 24th Street, resulting in a combined lot size of approximately 4,432 sq ft. Zoned M1-2/R5B/R6A, the site offers significant potential for residential or mixed-use development, with a possible buildable area of up to 13,296 sq ft. The asking price for both properties (40-37 & 40-39) is $3.7 million, and they are being sold as-is.
Ideally located just minutes from multiple subway lines, the site provides quick and convenient access to Manhattan and other major hubs. Situated in one of Queens’ fastest-growing neighborhoods, this is a compelling opportunity for developers and investors.
40-39 24 Street, Long Island City, NY, 11101
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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