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12-07 40th Ave

Hunter's Point, Long Island City, NY
Floors
2
Total Size
1,824 sqft
Lot Size
0 acres
Zoning
R6 C3-4
Year Constructed
1901

About 12-07 40th Ave

The two-story mixed-use property at 12-07 40th Avenue in New York is part of a redevelopment area where two new large hotels have already been completed. Built in 1901, the property comprises of a total size of 1,824 square feet and is perfect for investors and owner-users looking for a rental income rather than having to rent office space and carry all the costs.

12-07 40th Avenue in New York carries zoning for R6 with C3-4 commercial overlay. It is possible to add on to the existing structure with a maximum FAR 2.43. The lot size measures 25 x 100, which allows for an additional 6,000 square feet to be build.

Tenants at 12-07 40th Avenue in New York pay their own electric and heating. The property boasts three units, of which unit A is for retail and Unit B is a two-bedroom apartment. Unit C has three bedrooms.

This income property has the potential to generate $72,000 gross per annum with operating expenses of $10,280.

12-07 40th Avenue in New York features an attractive white and dark blue facade with early 20th century decorative stucco elements such as a cornice with dentils at its roof line.

Internet Providers for 12-07 40th Ave

Provider Technology Max Download Speed Max Upload Speed
RCN Cable
1 Gb/s
25 Mb/s
Verizon New York Fiber
1 Gb/s
25 Mb/s
Time Warner Cable Cable
100 Mb/s
6 Mb/s
MegaPath DSL
25 Mb/s
25 Mb/s

The Market: New York City

Most listings are in the $60's per square foot per year. The New York City region is experiencing a a rise in rates. In the last 3 months, the median rate rose $0 per sqft per year. That's a 1% rise in rent.

Median Rate Median Size
$66
/sqft/yr
3,330
sqft

Median Rate over Time in New York City