Mixed-Use Development Opportunity

Highlights:

• Entire City Block: Prime corner/through lot covering the entirety of block 726, offering unparalleled exposure and access.
• Significant Frontage: The site boasts 723 feet of wraparound frontage across four streets, providing exceptional visibility—201 feet on Broadway, 210 feet on 47th Street, 249 feet on Newtown Road, and 62 feet on 48th Street.
• Existing Square Footage: Total lot size is ±27,258 square feet, with a vacant 15,360 square foot existing building currently configured for big-box retail, plus an additional 9,700 SF of below grade storage.
• Strong Retail Corridor: Substantial foot traffic supports retail rates in the $65-75 / SF range, with enough scale and frontage to attract big box tenants, or split into smaller units to maximize rent per foot.
• Vertical Expansion Potential: Opportunity to build upward utilizing the existing structure, allowing for efficient vertical expansion with no demolition required.
• Delivered Vacant: Property will be delivered 100% vacant, offering a blank slate for development.
• Prime Accessibility: Just steps from the 46th Street subway station, serviced by the M and R trains, and less than 15 minutes from LaGuardia Airport.
• Proximity to Innovation QNS: Located less than a mile from the $2 billion Innovation QNS development, a transformative project bringing 3,200 new apartments (including 1,400 affordable units) and 400,000 square feet of commercial space to the vibrant Kaufman Arts District in Astoria
• City of Yes: » FAR Increase from 2.00 to 2.40 » Eased lot coverage restrictions, allowing for an expanded building envelope and efficient layouts » Parking is no longer required, resulting in significantly lower construction and excavation costs, and greater potential for a residential lobby » Maximum building height increased from 50 feet to 65 feet, allowing for a higher density build

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