Listed by Ariel Property Advisors
$11,500,000
37-34 29th Street
Details
Property Type Multifamily, Mixed Use
Sub Type Apartment Building
Square Footage 23,457
Units 27
Stories 6
Lot Size (SqFt) 7,355
Zoning R6A/R5B/M1-2
Multifamily | 27 Units
Marketing description
37-34 29th Street, Queens,
NY 11101 is located in
Long Island City (LIC),
Queens—a dynamic NYC
neighborhood known
for its mix of residential,
commercial, and industrial
zones.
Investment highlights
- Six-story new construction elevator building
- 25 residential units comprising of six (6) studios, fifteen (15) one-bedrooms, and four (4) two-bedrooms
- 421A tax benefits expires beginning June 2027
- Units transition to Free Market Residential Status upon expiration of tax abatement
- Additional tax savings through the Industrial & Commercial Incentive Program (ICIP) with another 11 years of benefit expiring 2036
- Optionality through a path to condominium conversion
- Growing area with numerous new developments
- Short distance to the N, W, M & R trains with easy access to Queens, Manhattan and Brooklyn
Listing Contacts
Listed by Ariel Property Advisors
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
