$4,750,000
Updated 7 years ago
Off Market
45-34 Pearson Street
Court Square, Queens | Pearson Street & Jackson Ave
Development Site
$4,750,000
Lot Size25'x100'
ZoneR7-3
Building TypeVacant Lot
RE Taxes$12,330
Building Amenities
- Elevator
Property Description for 45-34 Pearson Street
Ariel Property Advisors is proud to present 45-34 Pearson Street, a unique development opportunity in the heart of Long Island City.
The 25’ x 100’ lot zoned R7-3/M1-5 offers developers the opportunity to build in one of the most rapidly developing areas in New York City. Have plans available for review to construct an 8 story, 16-unit, 15,427 square foot building (including below grade space) with 12,500 net rentable/sellable square feet.
Amazon HQ2 is going to be in the immediate vicinity bringing over 20,000 new employees with high paying jobs to the area over the next decade. This is a massive boost to the local economy and has created a whirlwind of interest and demand for properties in the neighborhood. The Court Square/ Queens Plaza South sub-district of LIC is home to the Citibank Building, where Amazon will be taking 1 million square feet of office space, CUNY Law School and numerous new and planned developments. The sub-District contains 2,500,000 square feet of office space with another 900,000 square feet in development as well as over 1,200 hotel rooms in the planning stages. There are 1,600 existing residential units in Court Square/Queens Plaza South with another 6,900 in the pipeline.
The location offers abundant access to Manhattan, Brooklyn and Long Island via the 7, G, E, M just across Jackson Avenue at Court Square and the Hunterspoint LIRR Station four blocks away. Three other transit lines, the N, Q, R are located a short walk to Queens Plaza.
With Long Island City becoming a 24-hour, 7 day a week destination to live, work and play, 45-34 Pearson Street provides an opportunity for developers to be a part of this growing community.
Listing History for 45-34 Pearson Street
Now
07/08/2019
POM by Alexander Taic
Ariel Property Advisors
02/13/2019
$4,750,000
Initial Price by Shimon Shkury
Ariel Property Advisors
Building Details for 45-34 Pearson Street
OwnershipDevelopment Site
Building TypeVacant Lot
Transit and Citi Bike
Subway
Court Sq
0.13 miles
Court Sq-23 St
0.24 miles
21 St
0.29 miles
Hunters Point Av
0.3 miles
Queensboro Plaza
0.46 miles
Railroad
Hunterspoint AvenueLong Island Rail Road
0.21 miles
Citi Bike
Davis St & Jackson Ave
0.1 miles
47 Ave & Skillman Ave
0.14 miles
Contact Agents
Contact Agents
Alexander Taic
Ariel Property Advisors
Michael Tortorici
Ariel Property Advisors
Victor Sozio
Ariel Property Advisors
Court Square | Queens
Quick Profile
Not that long-ago Court Square was an industrial zone near the Ed Koch / Queensboro Bridge. It was populated by manufacturing warehouses, lumber mills, dive bars and hole in the wall restaurants. Rumbling trains moving along the elevated tracks above added to the grittiness of the neighborhood. Despite its industrial past, it’s seen its share of major growth in recent years especially when it comes to residential construction.
Court Square is a triangular shaped pocket neighborhood of Long Island City and it is bounded by 21st Street to the west, Skillman Avenue to the east, 44th Drive and Thomson Avenue to the north and 49th Avenue to the south.
Its history feels a whole lot simpler compared to some of the other neighborhoods in Queens. Court Square is named after the historic Queens County Courthouse. Built in 1874 the court has tried some of the most important criminal cases in New York. Made out of brick and granite, the two-and-a-half story building was officially designated a landmark in 1976.
Modern day Court Square is a vibrant neighborhood offering a healthy mix of brownstones, contemporary commercial buildings and modern residential buildings of varying sizes. The cool factor may not be at the same levels as select Brooklyn or Manhattan neighborhoods, but Court Square is quickly catching up. Art galleries, breweries, hip eateries, bookstores, and sustainable parks are defining the nabe and drawing in new residents.
You can’t write about Court Square and Long Island City without mentioning the Amazon debacle that went down on Valentine’s Day 2019. Drama ensued when the company withdrew their Headquarters 2 offer at One Court Square. The 50-story building was close to becoming the second headquarters for the American tech giant but the deal fell through. Amazon and New York’s Governor Cuomo, just couldn’t work out the fine details of the deal that included tax breaks and incentives. The heavily politicized event eventually collapsed.
The median listed price for a 1-bedroom in Court Square is $1,188,287 with an average price per square foot is $1,544.
The neighborhood has a fantastic transportation hub. Busses, LIRR Trains, and major roadways are easily accessed from Court Square and Long Island City. 7, E, G and M trains are located at the Court Square-23 Street station. And the N, Q , W and 7 trains are located at the Queensboro Plaza station.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 75215TH
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