Updated 6 years ago
Off Market
61-19 Roosevelt Ave
Woodside, Queens | 61st Ave & 62nd Ave
10 Rooms6 Beds7 Baths13,635 Square FeetMixed Use
$12,900,000
floors / apts2 / 5
Lot Size89'x162'6"
ZoneR6
Building TypeLow-Rise
RE Taxes$102,816
Price Per SF
$946
Building Amenities
- Voice Intercom
Property Description for 61-19 Roosevelt Ave
COMPASS has been retained on an exclusive basis to handle the sale of 61-17 - 61-29 Roosevelt Avenue, 61-31 Roosevelt Avenue, 39-38 62nd Street, 39-40 62nd Street and 39-42 62nd Street, Woodside, New York. This is a two-story mixed-use corner property with access from 61st Street, Roosevelt Avenue and 62nd Street. It features multiple retail shops including Fay-Da Bakery and Cafe and a HF Dollar and Up, 7700 square foot supermarket among other shops. The residential portion consists of 5 apartments located on the 2nd floor, (walk up). This property has recently undergone a $2.5 million full renovation, including new sewer lines, new store fronts, all new electric and plumbing, including gas lines and hot water heaters and furnace, new roof, roof trusses and stucco facade. Location is key to this property with very heavy foot traffic as the 7 train stop at 61st Street and LIRR to Penn Station and Long Island is located in front of this property. The Q32 bus stops on both corners. The Q70 bus to LaGuardia Airport on the next corner. The US Post Office is on 61st Street adjacent to the property. Two very strong AAA retail tenant leases are structured with responsibilities on the tenant side, including water, insurance, utilities, repairs and a portion of real estate taxes.
CURRENT OVERALL INCOME/EXPENSE
The gross income is $717,876 with great increases
The expenses are $146,085
The NOI: $571,791
PROPERTY INFO:
Residential sq feet: 1935
Retail sq feet: 11,700
As a re-development there is additional FAR up to five stories. This property makes for the perfect investment for any buyer to expand their portfolio with great projections and potential.
Listing History for 61-19 Roosevelt Ave
Now
12/07/2020
TOM by Lisa J. Lonuzzi
Compass
08/22/2020
$12,900,000 [-$1,000,000] [7.2%]
Price Drop by Lisa J. Lonuzzi
Compass
Building Details for 61-19 Roosevelt Ave
OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts2/5
Transit and Citi Bike
Subway
61 St-Woodside
0.03 miles
69 St
0.32 miles
65 St
0.33 miles
Railroad
WoodsideLong Island Rail Road
0.03 miles
Citi Bike
61 St & 39 Ave
0.08 miles
61 St & Woodside Ave
0.09 miles
Woodside | Queens
Quick Profile
From Irish enclave to modern day melting pot, Woodside Queens is an affordable working-class neighborhood with a laid-back vibe.
Woodside is bordered by Elmhurst to the east, Astoria to the west, Jackson Heights to the northeast and Long Island City to the south.
According to many residents, one of the perks of living in the neighborhood is the short train commute to Manhattan and Grand Central Station. What Woodside lacks in attractions, it certainly makes up for it with fun bars and pubs, coffee shops, parks, and food spots. Especially the endless variety of ethnic food establishments throughout the neighborhood.
Queens is already the epicenter of ethnic food. So, it’s no surprise that there are many culinary treasures in Woodside. Especially when it comes to Filipino food. Little Manilla, as it's affectionately known as, begins at 63rd Street on Roosevelt Avenue and extends to 71st. You’ll find Filipino markets and restaurants selling everything from comfort food to traditional Filipino ingredients. Make sure you come hungry.
Woodside has always been a melting pot. Irish, Italian and German immigrants flocked to the neighborhood in the early 20th century. In recent years, Asian and Latin immigrants have joined the population.
As of lately, the neighborhood has attracted people looking to get a little more bang for their buck as well as those who have been priced out of nearby areas like Sunnyside and Long Island City. Most Woodside residents rent and a smaller portion of them own.
When it comes to housing stock, you’ll find a little bit of everything in Woodside. Standalone houses, large apartment buildings, towering co-ops and 2 and 3 story detached homes are common.
The neighborhood has not seen an explosion of growth in new and modern construction yet so there are some good deals to be had. The average listed price is $419,000 while the median listed price is $372,000.
Woodside's main commercial artery is Roosevelt Avenue, which has always been a busy thoroughfare. Irish bars, Italian bakeries, mom and pop stores of every type share the commercial space. The rumbling subway passes overhead on the elevated track and adds a little grittiness to it all.
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: 78493TH
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