January 11, 2021
Queens developer East West Development is looking to sell a 51,411-square-foot Qualified Opportunity Zone development site for $63.5 million, hiring HKS Real Estate Advisors’ Peter Carillo to market it. The block-through assemblage at 41-50 21st St. in Long Island City can support various uses.
“With approximately 334,172 buildable square feet, the site will support a tower with a height in excess of 15 stories and will offer large open floor plates, high ceilings ranging from 15 to 23 feet and unobstructed views of the Manhattan skyline,” said Carillo.
He pointed out that with 285 feet of frontage on 21st Street and 196 feet of frontage on 22nd Street, the site is an excellent and strategic location for several uses, including last-mile logistics, warehouse, life science, office, movie/TV studios or a data center.
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Tags: Broker, Development, Land, Sale
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