Cushman & Wakefield is marketing a shovel-ready
development site on a prime corner in Sunnyside, Queens.
51-02 Roosevelt Avenue is a 124,589-buildable-square-foot
mixed-use development site with over 300 feet of frontage on Roosevelt Avenue
and 51st Street, providing average daily traffic count of more than 50,000
vehicles.
Cushman’s Stephen R. Preuss, Andreas Efthymiou and Rani Bendary are leading marketing efforts on behalf of the seller.
“This is a rare opportunity to acquire one of the last large
corner development sites in a neighborhood with untapped retail potential,”
said Preuss. “In fact, according to the Department of City Planning’s 2019
report, this development site sits along ‘The Healthiest and Most Stable Retail
Corridor in NYC.’”
The seller – who paid $15 million for the site in 2018 – had filed plans to build a four-story school building, according to YIMBY. The planned 53-foot-tall development was to include 42,488 s/f community facility space and 8,500 s/f for commercial use.
The site is located directly at the 52nd Street-Lincoln
Avenue Subway Station with access to the 7 train and is accessible by multiple
bus lines. It is in direct proximity to Queens’ primary thoroughfares,
including the Brooklyn/Queens Expressway and Queens Boulevard. Surrounding
retailers include Rite Aid, UPS, Staples, KFC, Key Food, Starbucks and Dunkin
Donuts, among others.
