Arverne Assemblage 224k BUILDABLE SQ. FT.
Land | 97,913 SqFt
Marketing description
This offering presents a rare opportunity to acquire a substantial ±97,913 square foot development site located at 49-01 Beach Channel Drive in the Arverne section of Queens. The property consists of three tax lots and is zoned R5 with a C1-2 commercial overlay, allowing for a mixed-use development of up to approximately 224,946 buildable square feet.
Situated on a wide street within a designated Transit Zone, the site qualifies as a Quality Housing development, offering increased efficiency and flexibility for residential construction. The property is delivered vacant and benefits from strong accessibility, located just four blocks from the Beach 44th Street A-train subway station.
The surrounding area has experienced significant public and private investment, including nearby developments such as the Resilient Edgemere initiative and the Peninsula Hospital redevelopment, positioning the asset within a rapidly evolving coastal neighborhood. Having been under long-term ownership for over 20 years, this marks the first time the property is being offered for sale, presenting a unique opportunity for developers to capitalize on scale, zoning, and location within an emerging growth corridor.
Investment highlights
- (3) Lots with Combined 97,913 SF of Land.
- Zoned R5, C1-2. Located in a Transit Zone and on a Wide Street, making it a Qualifying Residential Site.
- Buildable up to 224,946 SF with Mixed-Use zoning.
- Located (4) Blocks from the Beach 44th Street A-Train Subway Stop.
- Near Various New Ground Up Communities such as "Resilient Edgemere" and the "Peninsula Hospital Redevelopment Plan"
- Long-Term Ownership. For Sale for the first time in 20 years.
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