Offers are being accepted for a warehouse and office building in Long Island City that’s valuable for more than just its real estate.
The two-story structure at 34-10 Borden Ave., offered by Cushman & Wakefield, sits on an irregular, 8,977-square-foot lot adjacent to the Long Island Expressway (LIE) between the Queens-Midtown Tunnel and Van Dam Street exit. It is currently home to a scrap metal business.
With hundreds of thousands of drivers passing by it daily, the location is prime for advertising. It already has a fully functioning and permitted 12-foot-by-16-foot LED sign and two 20-foot-by-48-foot billboards, though the billboards currently lack proper permits.
“The advertising available on this building provides tremendous value for a user to have their brand displayed to a strong daily audience on Borden Avenue and the Long Island Expressway,” said David Chkheidze of Cushman & Wakefield. “The LED sign alone has drawn serious interest.”
Any and all reasonable offers are being considered; the city’s 2015-16 assessed value for the location is $459,769, with a tax liability of $49,122.
The site is located in a M1-1 manufacturing zone, which permits the site’s use for light industrial purposes including woodworking shops, repair shops and storage facilities; offices, hotels and retail space are also permitted as-of-right.