REAL ESTATE
Dutch Kills development site hits market for nearly $20M
BY MADELINE NELSON
editorial@qns.com / @QNS
A new property in Long Island City
is now available to developers for $19.5
million.
Modern Spaces Commercial &
Investment Division is handling the sale
or ground lease of 39-40 30th St., a corner
property located in the Dutch Kills area
of Long Island City. Th e property is listed
for sale at $19.5 million or for long-term
lease at $875,000 annually.
Th e lot has a 14,167-square-foot footprint,
Sales in Queens HOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
FRESH MEADOWS LONG ISLAND CITY SOUTH JAMAICA HOWARD BEACH
Under $500,000
163-76 17th Ave., Whitestone
$199,000
Co-op
1 bedroom, 1 bathroom
Laura Hickey
Americas Bravest Real Estate
$500,000-900,000
46-16 202nd St., Bayside
$749,000
1-family townhouse
3 bedrooms, 2 bathrooms
Jaime Lizarazo
TMT Realty Group LLC
Over $900,000
73-10 178th St., Fresh Meadows
$1,099,888
1-family Colonial
4 bedrooms, 2 bathrooms
Martin Freiman
Redfi n Real Estate
Under $500,000
41-25 44th St., Sunnyside
$410,000
Co-op
1 bedroom, 1 bathroom
Carol Fink
Corcoran
$500,000-900,000
27-16 41st Ave., Long Island City
$619,901
Condo
Studio unit, 1 bathroom
Sheena Ali
Keller Williams Realty Greater
Over $900,000
28-32 45th St., Astoria
$1,699,000
3-family home
7 bedrooms, 4 bathrooms
George Halvatzis
Halvatzis Realty
Under $500,000
167-09 Foch Blvd., South Jamaica
$285,000
1-family Colonial
2 bedrooms, 1 bathrooms
Roman Davydov
Exit Realty First Choice
$500,000-900,000
138-29 Lloyd Rd., Jamaica
$735,000
2-family Colonial
4 bedrooms, 2 bathrooms
Yosef Shaul
Glory Homes Realty
Over $900,000
170-16 84th Drive, Jamaica Estates
$1,299,000
1-family home
4 bedrooms, 3 bathrooms
Mohammed Ali
Century 21 American Homes
Under $500,000
66-01 Burns St., Rego Park
$150,000
Co-op
1 bedroom, 1 bathroom
Christopher DeSilva
All Area Brokerage Inc.
$500,000-900,000
134-11 115th Ave., South Ozone Park
$599,000
2-family Colonial
4 bedrooms, 3 bathrooms
Julio Mangual
Roni Homes Realty
Over $900,000
161-36 95th St., Howard Beach
$1,500,000
2-family mansion
5 bedrooms, 4 bathrooms
Sasha Torres
Howard Beach Realty
including more than 230 feet of
corner frontage along 40th Avenue and
30th Street, and off ers 70,835 buildable
square feet available for mixed-use or residential
development. Th ere is an existing
20,000-square-foot commercial structure
on site.
According to Modern Spaces, the lot is
part of the Brownfi eld Cleanup Program,
a state incentive program to encourage
the redevelopment of sites with environmental
problems. Th e property received
its Certifi cate of Completion in 2017,
declaring the site clean and off ering substantial
tax credits for a potential developer.
“A long-term ground lease off ers
a future developer an opportunity to
join the robust development landscape
of Long Island City without competing
with increasing and record-breaking
land prices,” said Evan Daniel, the executive
vice president of Modern Spaces. “As
part of the Brownfi eld Cleanup Program,
the future development of the property
comes with millions in tax credits, adding
immense value to the overall project.”
Available tax credits for the site could
total approximately $3.25 million,
Modern Spaces noted.
Th e property is located two blocks
north of Queens Plaza. It is also within
walking distance of the 36th Street,
39th Avenue and Queens Plaza subway
stations. Notable neighbors include
Citibank, Metlife, Barclays, HSBC,
JetBlue, Silvercup Studios, CUNY Law
School, 20,000 newly developed housing
units and over 1 million square feet of
offi ce space.
Photo via Google Maps
link
