|
|
Prime M1-1 Zoned Opportunity in the Heart of Long Island City Located in the vibrant and rapidly evolving neighborhood of Long Island City, 34-09 37th Avenue presents a rare opportunity to acquire a 25-foot-wide property with flexible M1-1 zoning in one of Queens’ most dynamic corridors. Set on a 25 ft x 98. 08 ft lot (2, 452 SF), this property offers significant potential for investors, developers, or end-users seeking a well-positioned asset with long-term upside. The existing structure is a 1-story building (built in 1901) currently classified as a Two-Family converted from One-Family (B3), measuring approximately 1, 100 square feet (22 ft x 50ft). The building is notably underbuilt relative to the lot size, creating compelling possibilities for repositioning or redevelopment. Property Highlights: • Lot Size: 2, 452 SF • Lot Dimensions: 25 ft x 98. 08 ft • Zoning: M1-1 (Manufacturing District – Zoning Map 9b) • Building Size: 1, 100 SF • Stories: 1 • Roof Height: 16 ft • Regular lot configuration • Built in 1901 M1-1 zoning allows for a range of uses including light manufacturing, warehouse, commercial, office, and certain community facility uses. Buyers are encouraged to consult with their architect to explore development potential. Positioned near major transportation, thriving residential developments, and expanding commercial activity, Long Island City continues to attract strong demand from businesses and investors alike. Whether you are looking to develop, occupy, or hold for long-term appreciation, 34-09 37th Avenue offers flexibility, scale, and strategic location in one of New York City’s most active submarkets. For additional information or to schedule a viewing, please reach out directly.
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$1,850,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,480,000 | $1,480,000 | $1,480,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 5.875% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 5.984% | 5.689% |
| Monthly Tax Payment | $677 | $677 | $677 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,173 | $8,755 | $12,191 |
| Total Monthly Payment | $8,975 | $9,557 | $12,993 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.