**Opportunity for Developers: Prime R6-Zoned Lot in Downtown Flushing, Queens** Seize this exceptional opportunity to acquire a 40x100 lot zoned R6 in the heart of Downtown Flushing, Queens. This property is being sold as land value, it offers 8, 800 buildable square feet and currently occupied by a two-family residential home. The potential here is immense: envision a medium-rise residential building with a community facility center, accommodating approximately 13 units and 7 parking spots. An adjacent 24x100 lot is also available, presenting the rare chance to combine for a total R6 buildable lot of 6, 400 square feet. This expands the potential buildable square footage, allowing for approximately 21 units and 11 parking spots. Strategically positioned between Main Street and College Point Blvd, this site enjoys unparalleled proximity to essential amenities. Just a short walk to the 7 Train and LIRR, residents will have convenient access to supermarkets, restaurants, offices, medical facilities, hospitals, and parks. Flushing's vibrant and diverse community makes it a highly desirable location for future residents, adding significant value to any development project. This prime location offers unmatched convenience and investment potential. Don't miss out on this unique development opportunity in one of Queens' most dynamic neighborhoods. Disclaimer: All information provided is not guaranteed and should be independently verified. Prospective buyers and developers are encouraged to conduct their own due diligence, including consulting with an architect or zoning expert to verify all details and potential development opportunities.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,948,000 | $1,948,000 | $1,948,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.850% | 6.360% | 5.930% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,908 | $11,994 | $16,176 |
Total Monthly Payment | $11,033 | $12,119 | $16,301 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.