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.
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.
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.
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.