A Manhattan-based firm recently spent $5.8 million to scoop up two lots on an Elmhurst corner that have the potential to be the location for a much larger residential building.
The parcels, located near the Jackson Heights border at 75-08 and 75-24 Broadway, comprise two buildings with 12 retail and office units combined.
Sunnyside firm Terra Property Group sold the buildings to 75-08 Broadway LLC, according to records filed with the city last week.
The property could be attractive to possible future residential tenants because a subway entrance to the five-line Jackson Heights-Roosevelt Avenue/74th Street-Broadway transit complex is on the corner, making transportation convenient.
No permits have been filed with the Buildings Department for the properties.