Marcus & Millichap - Tri Borough Multi-Family

3921 Crescent Street


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Building Size: 104,694 Square Feet
Property Type: Development Site
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5234
Lazarus Apostolidis
Tel: 212-430-5233
Paul Youssef
Tel: 646-805-1461
Property Status: Active

Marcus & Millichap is pleased to offer, 39-21 Crescent Street aka 39-12 27th Street located between 39th and 40th Avenues in the Dutch Kills section of Long Island City, Queens, New York.

The subject property includes a four-story school building originally built in 1925 and auditorium/house of worship building completed in 1997 with two elevators. The lot offers 275 feet of frontage zoned M1-2/R5D, LIC (1.65 FAR) on Crescent Street and 300 feet of frontage zoned M1-2/R5B, LIC (2.0 FAR) on 27th Street allowing for approximately 105,000 buildable square feet as of right of right and a FAR of up to 3.0 for certain commercial and manufacturing uses for that additional floor area The property is also located within a Qualified Opportunity Zone (Census Tract 36081003300) (Block: 396, Lot: 10).

This property offers developers the rare opportunity to purchase a large block through development site located in a Qualified Opportunity Zone in the Dutch Kills section of Long Island City, Queens, New York.