New York, NY – September 7, 2017 – Cushman & Wakefield has been retained on an exclusive basis to arrange the sale of two development sites in Corona, Queens at 127-43 Willets Point Boulevard and 127-42 Northern Boulevard. The two lots combined offer up to a total of 381,992 buildable square feet.

The site at 127-43 Willets Point Boulevard is being sold by Semco, Inc. for an asking price of $17,900,000. The lot sits in a C4-4 / WP zone which allows for up to 261,950 buildable square feet. The property allows for residential multifamily, retail, hotel, community facility, sports area, and office uses, amongst others. Located adjacent to Citi Field, a 2,625-square-foot building currently occupies a portion of the site which offers frontage on Willets Point Boulevard, 127th Street and 35th Avenue.

The 18,468-square-foot lot, located at 127-42 Northern Boulevard, is being sold by Cyprian Truck & Auto Repairs, Inc. for an asking price of $16,000,000. Permitted uses include residential multifamily, retail, hotel, community facility, sports area, and office, among others. Currently, 8,200 square feet of building being operated as a gas station exists on the grounds. Per the underlying C4-4 zoning, approximately 73,872 buildable square feet is allowed with up to an additional 46,170 buildable square feet with community bonus for a total of 120,042 buildable square feet. The site has 170 feet of frontage on Northern Boulevard.

A Cushman & Wakefield team consisting of Senior Managing Director Stephen R. Preuss, Associate Director Denise Prevete, Senior Associate Kevin Louie, and Associate Andreas Efthymiou will be heading the marketing efforts for both properties.

“This is an opportunity for property owners, whom are not included in Phase 1, to be first to market while taking advantage of the high interest level from both local developers and large capital based NYC buyers,” said Stephen R. Preuss of Cushman & Wakefield, who is leading the sales team. “It is an opportunity for potential buyers to acquire land in the heart of Queens for a fraction of the price of other sites immediately outside of the Willets Point area.  A buyer can purchase land for $100 per foot here while the same piece of land is $300 per foot a few blocks away.”

Both sites are located within walking distance to Citi Field Stadium and are nearby the 7 line Mets-Willets Pt Subway Station. LaGuardia airport is situated within a mile from the properties with close proximity to the Van Wyck Expressway, Grand Central Parkway, and the LIRR Mets-Willets Point Station.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.