Three Laurelton lots put on market for $9.25M

Three lots on Merrick Boulevard are being put up on the market for $9.25 million.
Courtesy of Ariel Property Advisors
By Naeisha Rose

Three lots along in Laurelton, known as the Merrick Boulevard Assemblage, are up for sale for $9.25 million, according to Ariel Property Advisors, the commercial real estate service that has been exclusively retained to sell the property.

The lots are located at 221-06 and 221-26 Merrick Blvd. and 134-11 221 St.

The multimillion-dollar property has 593 feet of frontage along the heavily trafficked thoroughfare on Merrick Boulevard, one of the busiest in southeast Queens, and was once the spot for a fresh food market, according to Jason Gold, one of four agents from Ariel selling the lots.

Alexander Taic, Victor Sozio, and David Khukhashvili are the other agents.

In total the property has 49,838 square feet. Thearea has been rezoned and could allow a new owner to elevate the space up to 99,676 buildable square feet, according to the real estate firm.

“I think the best use is going to be either a supermarket or a commercial building with parking, or they could have a developer and develop the assets for residential [space],” said Gold.

Separately, the lots are 5,000 square feet, 30,695 square feet, and 14,140 square feet, said Gold.

“What makes the [property] so attractive is the frontage,” said Gold. “There’s signage on the property that is grandfathered in and it happens to be about 10-feet taller than any other sign in the area…and it could be seen from miles away.”

Taic, who is also a director at Ariel Property Advisors, agrees that the space could be great as a residential development.

“This assemblage offers a developer the unique opportunity to be a pioneer by enabling them to bring new housing to a residential neighborhood that has nothing like it, thereby enhancing the whole community,” said Taic.

The site is near major national retailers like Walgreens, UPS and Key Food, according to the firm.

The spot is also near the Long Island Rail Road and the Q5 bus line.

“The site also has a retail component, which should attract many of the nearby residents, thus positioning the asset for strong appreciation in the years ahead,” said Gold, who is also a director at Ariel.

Reach reporter Naeisha Rose by e-mail at nrose@cnglocal.com or by phone at (718) 260–4573.

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