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About the Listing TREQ01 - 9028997
Five-Star R3X Development Opportunity | 60 × 100 Lot | Substantial Expansion Potential Positioned on a rectangular 60 × 100 property in an R3X zoning district, this two-family offering presents a compelling opportunity to develop a custom luxury residence or to maximize its potential through expansion. With approximately 4,500 buildable square feet permitted under a 0.75 FAR, the site supports substantial new construction aligned with today’s expectations for scale, layout, and long-term value. Recent comparable activity reinforces the development potential. Based on three recent R3X sales on 4,000 sq ft lots that were redeveloped into new two-family homes, the average sale price was approximately $1,243,320—equating to about $414 per buildable square foot. Applied to the approximately 4,500 buildable square feet permitted on this lot, the projected value approaches $1,864,980, subject to design, construction, and market conditions. The existing structure is configured as a two-family. It includes a full, high-ceiling basement with both side and rear access, offering flexibility for future use, layout reconfiguration, or end-user customization. The first-floor unit is expected to be delivered vacant by mid-May. The second-floor unit is currently occupied. This offering is ideally suited for builders, investors, or end users seeking to capitalize on a well-located property with significant expansion potential.
Listing Highlights
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating: Hot Water,Oil
- Fireplaces:
- Floor: Hardwood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Full
- Other: First Floor Bedroom
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: 1 car
- Parking Spaces: 5
- Lot Dimensions: 60X101.5
- Roof:
- Others: Actual
- Sewer: Public Sewer
- Parking Features: Driveway,Garage
Financial Details
- Tax Amount: $11,143
- Taxes w/Assessments: N/A
- Tax/Property ID: 05531-0012
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
45-63 189th St Flushing, NY 11358
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