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11-11 44th Rd 15,200 SF 100% Leased Office Building Long Island City, NY 11101 $12,000,000 ($789.47/SF) 5.65% Cap Rate
Investment Highlights
- This property is situated in Long Island City's Hunters Point, two blocks to the East River waterfront, Parks and boardwalks
- The spacious open lofts can be easily divided or combined with adjacent units, allowing for flexible design options and the creation of larger spaces
- Possiable residential mixed-use conversion?
- OneLIC rezoning to a M1-4A 5.0 F.A.R. with an addtional 22,300 SF. Total building size of 37,500
- Significant growth potential.
Executive Summary
Your Space New York has been retained on an exclusive basis to arrange the sale of 11-11 44th Road
Exclusive Investment Opportunity | 11-11 44th Road, Long Island City Existing with a build
Consistently occupied, value-add property located in the heart of Hunters Point, Long Island City, just two blocks from the East River waterfront.
Originally developed from the ground up, the building was designed to accommodate future expansion and benefits from new zoning (M1-4A) allowing a 5.0 FAR, creating a compelling redevelopment or expansion opportunity. The zoning permits an additional 22,300 buildable square feet of mixed-use space, bringing the total potential Building size area to approximately 37,500 square feet. This would more then double the current NOI, Air rights can be use now or sold now, or held for the future for a higher price per square foot as well.
The property is ideally positioned amid one of New York City’s fastest-growing neighborhoods and will be surrounded by approximately 14,700 rentable SF and newly developed residential units, driving long-term demand and appreciation. Its proximity to the future waterfront boardwalks and parks further enhances its appeal and future growth potential.
The building features high ceilings, expansive extra-large windows, and open loft-style layouts that provide abundant natural light. Units can be easily divided or combined, offering flexible design configurations and the ability to create larger floor plans. These characteristics have contributed to the building’s exceptionally low vacancy rate and strong tenant demand.
In addition to its added F.A.R upside, the property is also well-suited for an owner-user. With stable in-place income, flexible layouts, and significant future upside, 11-11 44th Road represents a compelling investment opportunity in a rapidly evolving, rezoned sub-market of Queens Long Island City, Hunters Point
Contact Exclusive Broker for setup
Your Space New York
Craig Stulberger
Exclusive Investment Opportunity | 11-11 44th Road, Long Island City Existing with a build
Consistently occupied, value-add property located in the heart of Hunters Point, Long Island City, just two blocks from the East River waterfront.
Originally developed from the ground up, the building was designed to accommodate future expansion and benefits from new zoning (M1-4A) allowing a 5.0 FAR, creating a compelling redevelopment or expansion opportunity. The zoning permits an additional 22,300 buildable square feet of mixed-use space, bringing the total potential Building size area to approximately 37,500 square feet. This would more then double the current NOI, Air rights can be use now or sold now, or held for the future for a higher price per square foot as well.
The property is ideally positioned amid one of New York City’s fastest-growing neighborhoods and will be surrounded by approximately 14,700 rentable SF and newly developed residential units, driving long-term demand and appreciation. Its proximity to the future waterfront boardwalks and parks further enhances its appeal and future growth potential.
The building features high ceilings, expansive extra-large windows, and open loft-style layouts that provide abundant natural light. Units can be easily divided or combined, offering flexible design configurations and the ability to create larger floor plans. These characteristics have contributed to the building’s exceptionally low vacancy rate and strong tenant demand.
In addition to its added F.A.R upside, the property is also well-suited for an owner-user. With stable in-place income, flexible layouts, and significant future upside, 11-11 44th Road represents a compelling investment opportunity in a rapidly evolving, rezoned sub-market of Queens Long Island City, Hunters Point
Contact Exclusive Broker for setup
Your Space New York
Craig Stulberger
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
15,200 SF
Building Class
B
Year Built
2009
Price
$12,000,000
Price Per SF
$789.47
Cap Rate
5.65%
NOI
$678,000
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
3,800 SF
Building FAR
2.05
Lot Size
0.17 AC
Zoning
M1-4A - additional 22,300 SF can be built
Parking
15 Spaces (0.66 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Restaurant
- Skylights
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
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Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (82)
Property Taxes
| Parcel Number | 00446-0023 | Improvements Assessment | $990,090 |
| Land Assessment | $303,750 | Total Assessment | $1,293,840 |
Property Taxes
Parcel Number
00446-0023
Land Assessment
$303,750
Improvements Assessment
$990,090
Total Assessment
$1,293,840
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