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Deals & Dealmakers

Lee & Associates begins marketing Queens development site

Lee & Associates NYC’s Ben Tapper, Senior Managing Director; Sean Slattery, Associate Director; and Sean Dainese, Associate, have been named the exclusive brokers for 81-01 through 81-19 Broadway in Elmhurst, Queens, a site that is in close proximity to Elmhurst Hospital.

The lots are comprised of two one-story retail buildings totaling 20,000 square feet, and offer the opportunity to build 82,413 square feet as of right.

The vacant building at 81-01 Broadway formerly housed a Key Food, and 81-19 is presently occupied by three small retailers. The properties are being offered for the creation of a long-term leasehold interest.

“The zoning is very flexible and allows for maximum optionality, making 81-01 through 81-19 Broadway ideal for residential, commercial, retail or community facility use,” said Tapper. “In addition, the size of the combined lots and corner location allow for an efficient floorplate to be built with maximum light and air in multiple directions.”

“Given the proximity to Elmhurst Hospital and the growing need for medical square footage in New York City, this site is a prime candidate for health care or senior housing development,” added Slattery.

81-01 through 81-19 Broadway

The properties feature 200 feet of frontage along a prime stretch of Broadway and 100 feet of frontage along Pettit Avenue. Surrounding transit stations include the Elmhurst Avenue subway station servicing the E, M and R trains, the 82nd Street Station servicing the 7 train, and the Roosevelt Avenue-Jackson Heights Station servicing the 7, M, F, E and R trains.

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