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Vacant lots of prime buildable land in LIC sell for $44M

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Map courtesy of Google Maps

Three vacant lots in Long Island City near Queens Plaza that have potential for major development sold for $44 million, according to city records filed Thursday.

The seller is 42-26 28th St. LLC and the buyer is Eastern Star Development, city filings show.

No new plans or permits to build have been filed as yet for the lots, which are located on 42nd Road between 28th and 27th streets, but the property is surrounded by several tall buildings, such as the 22-story commercial glass building across the street at 42-01 28th St. and the 27-story residential tower adjacent to the lots at 42-25 27th St.

Also, directly north of the vacant lots, Heatherwood Communities is building a 58-story skyscraper at 42-12 28th St., which will become the tallest residential tower in the borough.

Excavation has mostly finished on that job, according to The Court Square Blog, and foundation work is beginning.  

The lots are zoned for mixed use so new developments could be a mixture of residential and commercial use.

The combined size of the property is 13,500 square feet. And a five-story building on the property was demolished in 2007, according to building records.

5-story development
Photo courtesy of Scott Bintner/ PropertyShark

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