New Development Mixed-Use Building For Sale

$13,850,000

64-16 Wetherole Street, Rego Park, NY 11374

For Sale

Mixed Use

Active

Last Updated: 07/25/2024

Details:

NOI: $651,245.72

Building Size: 17,845 sqft

Lot Area: 4,037 sqft

Units: 17

Zoning: R7-1

Offered by

Justin Tan

Marketing Manager

Kassin Sabbagh Realty

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Description:

Kassin Sabbagh Realty (KSR) has been entrusted with the sale of 64-16 Wetherole Street, a newly developed 421-a building located in Rego Park, Queens. This modern building comprises 30% affordable housing units and 70% market-rate units, offering a balanced living environment for various income levels. The affordable units are designed to provide comfortable and quality living spaces for families and individuals under city programs.

The building includes one retail space currently rented to a Daycare Center which includes the basement.

Located in Rego Park offers easy access to public transportation, shopping, dining, and parks.

Affordable Units: • Total Affordable Units: 5 • City FHEPS Units: 3 • NYCHA Section 8 Units: 1 • Self-Paid Affordable Unit: 1

Breakdown of Affordable Units: • 1-bedroom units: 2 • 2-bedroom units: 3 • Total Market-Rate Units: 11 Retail Space: Daycare Center • Occupies the basement and retail area • Separate entrances from Austin Street and Wetherole Street

Amenities: • Modern kitchens with stainless steel appliances • Luxurious bathrooms with contemporary finishes • In-unit climate control • Secure entry and common areas • Elevator service