NEW YORK, NY July 31, 2018 — Cushman & Wakefield today announced that the firm has been retained on an exclusive basis to arrange the sale of of 54-27 Little Neck Parkway, a 1.5 acre development site with 68,829 buildable-square-feet in Little Neck, Queens. The firm is currently taking offers for the property.
A team led by Senior Managing Director Stephen R. Preuss, with Director Denise Prevete, Associate Director Kevin Louie, Senior Associate Andreas Efthymiou and Senior Associate Kevin Schmitz will represent the seller, Temple Torah Little Neck, in all marketing efforts.
“The property offers is a great opportunity to develop in a highly sought-after neighborhood in Northern Queens,” Stephen R. Preuss of Cushman & Wakefield. “The site is an ideal location for several uses including an educational facility, single-family homes and medical facilities.”
54-27 Little Neck Parkway currently consists of an approximately 26,989 square foot religious building and school with on-site parking. The building will be delivered completely vacant with the option to keep the existing school tenant, which is currently leasing on a month-to-month basis. The property allows up to 34,415 buildable square feet for as of right residential development, and up to 68,829 buildable square feet with a community facility bonus. Ownership is proposing an approximate 10,000 square foot build-back for religious use to be included in the potential development.
The property is conveniently located less than a quarter-mile south of the Long Island Expressway and steps away from the Q36 bus line. Additionally, Northern Boulevard, a major Queens thoroughfare, is located about a half-mile north from the site.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.