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10-30 Neilson St Listing Details & Market Data

1030 Neilson St, Far Rockaway, NY 11691

  • For Sale $6,800,000
  • Property Type Multi-Family
  • Property Size 19,927 SF
  • Lot Size 0.3 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 2011
  • Date Updated Feb 23, 2021

THE OFFERING

Marcus & Millichap is pleased to offer the following opportunity located in Far Rockaway. 10-30 Neilson Street is located between Dinsmore Avenue and Cornaga Avenue, nearby the A train. The property consists of 15 apartments recently constructed in 2011.

THE OPPORTUNITY

15 Year Tax Abatement: The property is currently benefiting from a 15-Year 421-A Tax Abatement which ends in 2028. The abatement allows an investor to benefit from rent growth while being protected from large increases in expenses. Additionally, after the abatement has phased there is an opportunity to deregulate the apartments..

The Premier Location:

Centered in the middle of Far Rockaway just off of the main Mott Ave corridor, you are only minutes away from the Far Rockaway A Subway Line and the Far Rockaway LIRR stop. The neighborhood has a strong Jewish presence and history and is walking distance to both Chabad Lubavitch and Siach Yitzchok. Tenants benefit due to the proximity of these establishments and ultimately, the building acts as a transition residence into 5 towns.

Luxury Amenities: The buildings features a parking lot in the rear of the property, apartment balconies, storage units in the basement, individual hot water heaters and boilers as well as washer and dryers in every unit.

High End Finishes: Residences maximize natural sun and air with no immediate buildings adjacent to the property and units feature high end finishes.

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Location

  • City Far Rockaway, NY
  • Neighborhood Far Rockaway
  • Zip Code 11691
  • Market Queens

Contacts

broker

Dylan Walsh

Marcus & Millichap

broker

Jack Sheresky

Marcus & Millichap

Contact 10-30 Neilson St

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