Special Purpose Facility

135-35 Northern Boulevard

135-35 Northern Blvd Queens, New York United States 11354-4006
Asking Price Contact for pricing
Area Size N/A
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Property description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange for the sale of 135-35 Northern Boulevard (“The Site”), also known as the iconic RKO Keith’s Theatre, which is a ~355,000 GSF development opportunity, located at the intersection of Main Street and Northern Boulevard in Flushing, Queens.

Investment highlights

DEVELOPMENT POTENTIAL

The Board of Standards and Appeals (BSA) has approved a 16-story, 269 residential unit, mixed use development opportunity featuring 280,810 square feet of residential space, 17,460 square feet of multilevel retail, 15,857 square foot community facility and 305 attended parking spaces.

SUPERB ACCESSIBILITY

Convenient transportation options into Manhattan have played a significant role in Flushing’s tremendous expansion. 135-35 Northern Boulevard is only 40 minutes away from Times Square via the 7-subway line and only 26 minutes from Penn Station via the Port Washington branch of LIRR. The Site is also situated adjacent to four major highway systems as well as both of New York’s main airports.

RAPIDLY EXPANDING MARKET

Flushing has emerged as one of the fastest growing neighborhoods in Queens due to its ideal location along the 7 train. As a result, Downtown Flushing’s influx of office, hotel and retail developments are set to have a substantial economic impact with new construction residential condos achieving $1,300/SF.

THRIVING RETAIL

The Site’s ideal location, on Northern Boulevard abutting Main Street, offers nearly 160’ of highly visible frontage along this heavily trafficked pedestrian corridor allowing for perfectly positioned multi-level street retail.

Last Updated Date: 20 Jul 2022

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Last Updated Date: 20 Jul 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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