Queens, NY Ariel Property Advisors has been exclusively retained to sell the Merrick Boulevard Assemblage, the largest development site in the growing residential neighborhood of Laurelton. The asking price for the asset, which is comprised of three contiguous lots, is $8.75 million.
The property, located at 221-06/221-26 Merrick Boulevard and 134-11 221st Street, offers 593 feet of frontage on one of the most heavily trafficked thoroughfares in southeastern Queens. With a lot area of 49,838 square feet, the R5D/R3A/C2-3 zoning allows for 99,676 buildable square feet for development. Zoning permits medium density development on Merrick Boulevard, offering a developer the ability to undergo an unpreceded project that can significantly elevate the area.
Exclusive agents Jason Gold, Alexander Taic, Victor Sozio, and David Khukhashvili are representing the owner.
"This assemblage offers a developer the unique opportunity to be a pioneer by enabling them to bring new housing to a residential neighborhood that has nothing like it, thereby enhancing the whole community," said Alexander Taic, a Director at Ariel Property Advisors.
The area in the immediate vicinity of the asset is home to several major national retailers, including Walgreens, UPS, and Key Food. The property also boasts multiple transportation options, including the Long Island Rail Road, providing easy access to Midtown Manhattan and Long Island, as well as the Q5 bus line.
“The site also has a retail component, which should attract many of the nearby residents, thus positioning the asset for strong appreciation in the years ahead,” said Gold, a director at the company.