11-15 47th Avenue & 11-18 46th Road, Long Island City, NY for sale

Investment Overview

BKREA has been exclusively retained to arrange the sale of 11-15 47th Avenue & 11-18 46th Road (the "Site"), a premier development opportunity in Long Island City, Queens. The offering comprises two contiguous parcels with wraparound frontage along 47th Avenue, 46th Road, and 11th Street. The Site presents significant residential development potential, offering 81,479 square feet of ZFA as-of-right at 2.83 FAR, with a maximum of 100,294 square feet of residential ZFA at 3.49 FAR with UAP. This accommodates a substantial project with the flexibility of a rental or condo development. Positioned just beyond the OneLIC rezoning area, the Site remains governed by its existing as-of-right zoning while standing to benefit from the growth, investment, and neighborhood evolution anticipated under the broader OneLIC framework. Situated within Long Island City's rapidly evolving market, the Site directly benefits from robust demand drivers and ongoing neighborhood momentum. With prime access to multiple transit options including the E, F, 7, and G subway lines, the Long Island Rail Road at Hunterspoint Avenue, and convenient proximity to Metro-North connections at Grand Central Terminal, the location provides seamless connectivity to Manhattan, Brooklyn, and the greater New York metropolitan area. Neighborhood amenities, parks, and ongoing public and private investment support strong market fundamentals and durable long-term growth prospects. This is a rare opportunity to acquire a premier development site in the core of one of New York City's most dynamic submarkets, positioned to capture the full upside of Long Island City's continued evolution