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Joint buildings in LIC on sale for $29M – QNS.com

Joint buildings in LIC on sale for $29M

Photo courtesy of Cushman & Wakefield

The real estate market in Long Island City shows no signs of cooling down.

Cushman & Wakefield announced on Tuesday that two buildings located at 45-01 Northern Blvd. and  34-08 46th Street are on sale for an asking price of $29 million.

The buildings are on the same block and are being offered together.

The 45-01 Northern Blvd. building, located between 45th and 46th Streets, is a retail and office structure with approximately 283 feet of frontage on the northeast corner of Northern Boulevard. It includes two billboards on the roof which face Northern Boulevard and 45th Street.

The property is currently overbuilt and “a great opportunity for an investor or user looking for a property with upside potential,” according to a press release.

The 34-08 46th St. property, located between 34th Avenue and Northern Boulevard, is a two-story mixed-use building that includes two commercial units and one residential unit with parking for up to six cars. The property allows for an additional 12,00 square feet of space to be built.

“Both properties present a truly unique owner/investor opportunity along the busy Northern Boulevard corridor in Long Island City,” said David Chkheidze of Cushman & Wakefield, who is exclusively marketing these properties along with Conrad Martin. “The properties offer a tremendous footprint in Long Island City and potential buyers will benefit greatly from both the accessibility and visibility of this site.”

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