A large, under-utilized industrial property in Long Island City that can legally be used for buildings seven times larger than what is currently on the site is being listed for sale, according to global real estate firm Cushman & Wakefield.
The property includes several buildings that have a total of 26,113 square feet of space. But the site can legally accommodate buildings with as much as 200,500 square feet of space, according to the real estate company.
The facility is located at 50-09 27th St., close to major highways such as the Long Island Expressway and Midtown Tunnel, as well as the Pulaski Bridge, meaning it could be attractive for distribution companies looking for easy access to Manhattan and Brooklyn.
“This area is quickly emerging and its close proximity to several mega projects as well as transportation options makes this an extremely appealing site for both users and investors,” said David Chkheidze of Cushman & Wakefield, who is marketing the property with Conrad Martin.
The property was sold by Harsco Corporation to a group of companies for $9.5 million in 2008, according to city records.