New York LaGuardia Airport Land Development Opportunity
Participate with a family-owned private equity firm that has been exclusively retained to market for sale a development site in immediate proximity from LaGuardia Airport. The property consists of two contiguous lots, one of which is currently improved by a by a 10-story hotel from one of the world’s top brands and a three-story parking structure. Combined the lots have a total area of 199,010 and sit in C4-2 zoning.
An ideal project for a NY-based developer who wants to acquire land entitled to build over 500,000 ft.² of Housing, Retail, and Parking. The developer will be building one of the first major developments in the area, and reshape the neighborhood for years to come.
INVESTMENT HIGHLIGHTS
MULTIPLE DEVELOPMENT SCENARIOSThe zoning allows for development of residential, commercial or community facility space. The large lot and zoning allow the future developer many different build scenarios.
ACCESS TO GRAND CENTRAL
The subject property is located just off the Grand Central. It’s a 30-minute drive to Midtown Manhattan, 30-minute drive to JFK, 20-minute drive to I95, and 15 minutes to the Long Island Expressway.
IMMEDIATE VICINITY OF LA GUARDIA AIRPORT
There are approximately 9,000 people employed at La Guardia Airport, and new renovations have been followed up with a focus on hiring locally. Half of the new hires in the newly renovated terminal B are from Queens.
PROPERTY INFO
LOT INFO
| Lot A | Lot B | |
| Lot | 1 (Portion) | 44 |
| Size | 140,492 Sq Ft (Irregular) | 58,518 Sq Ft (Irregular) |
BUILDING INFO
| Building Size: 236 ft x 175 ft |
| Gross Square Footage: 227,622 SF |
| Total Buildable SF Residential: 483,594 SF Approx. |
| Total Buildable Community Facility: 955,248 SF Approx. |
| Existing Structure: 227,622 SF Approx. |
| Available Air Rights: 727,626 SF Approx. |
Assessment (20/21)
| Lot A: $34,624,853 |
| Lot B: $2,351,916 |
