Marcus & Millichap - Tri Borough Multi-Family

5614-5620 Waldron Street

NY

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Price: $5,500,000
Building Size: 11,820 Square Feet
Property Type: Mixed-use
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206
Matthew.Fotis@marcusmillichap.com
Tyler Schadt
Tel: 212-430-5207
Tyler Schadt@marcusmillichap.com
Property Status: Active
Description:

Marcus & Millichap is pleased to offer 5614-5620 Waldron Street, located between Martense Avenue and Otis Avenue in the Corona section of Queens, New York.

The subject property, 5614-5620 Waldron Street, is a four-story multifamily building that consists of 24 onebedroom apartments. The property is built 20 feet by 49 feet on the first through fourth floors and sits on a 29.65 foot by 86.5 foot lot with approximately 3,940 gross square feet. The property is zoned R5 (Block: 1952, Lot: 18)

This property offers investors the rare opportunity to purchase a multifamily building with nine free market apartments and upside in the remaining apartments. The building has an expired 421A abatement which allows the owner to convert the rent stabilized apartments to free market status when vacated. This building is located in the Corona section of Queens New York.