108-03 Beach Channel Drive

108-03 Beach Channel Drive, Queens, NY, 11694, US

Description

JLL Capital Markets has been hired on an exclusive basis to arrange the sale of 108-03 Beach Channel Drive, an ~8.6 acre lot with 749,000+ ZFA of commercial development potential in Rockaway Beach, Queens. With M1-2 zoning, the Site supports a wide range of manufacturing / industrial uses and commercial development. Additionally, the Property qualifies for the Industrial and Commercial Abatement Program (ICAP), a tax incentive which will reduces property taxes for a duration of 15-25 years. Featuring direct access to Manhattan, Brooklyn & Queens via the Marine Parkway Bridge, the Cross Bay Memorial Bridge and the Rockaway Ferry, 108-03 Beach Channel Drive presents a rare opportunity to occupy, and / or reposition an undeveloped parcel of substantial scale in Queens.

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Attributes

Total Commercial Development Right

749,232 ZFA

Land area gross

374,616 sf

Zoning

M1-2

Frontage along Beach Channel Drive

860'

Media

Investment Highlights

Unique Large Lot with Substantial Commercial Development Potential

108-03 Beach Channel Drive is 374,616 SF (8.6 Acre) vacant land parcel located in Rockaway Beach, Queens. Situated on Jamaica Bay, the Site lies right across from the Rockaway Ferry in close proximity to both the Cross Bay Memorial and Marine Parkway Bridges, providing fast and convenient access to nearby Brooklyn, Queens, Manhattan and Nassau County.

Outstanding Regional Connectivity

108-03 Beach Channel Drive ensures direct access to Queens, Brooklyn and Nassau County in under 25 minutes by vehicle. The Property also offers convenient accessibility to the NYC boroughs and the rest of Long Island, as it is well-connected to major roadways such as the Belt Parkway and I-678. The Site also lies within 5-10 minutes walking distance from the & subway lines providing direct connection to the Pier 11 / Wall Street Ferry. This creates an easy access point to Manhattan and the outer boroughs via public transportation.

Favorable Supply / Demand Fundamentals

While New York City boasts a large and diverse pool of tenant demand, it has experienced a large decline in industrial-zoned supply over the last 20+ years (15% decrease in M-zoned lots since 2003) and features significant barriers to entry. E-commerce demand in NYC is anticipated to increase by 50% on a go forward basis, creating a rare opportunity as parcels of this size and scale are extremely scarce in the boroughs.

ICAP Tax Abatement Eligibility

The Site will be eligible for the Industrial and Commercial Abatement Program (ICAP), a tax incentive that directly reduces property taxes owed for a period of 15-25 years. To qualify for the abatement property owners must spend at least 30% of the property’s taxable assessed value to build, modernize, expand, or otherwise physically improve an industrial or commercial building.

Wide Array of Potential Uses

Zoned M1-2, the Property supports a wide range of industrial / manufacturing uses and over 749,000+ ZFA of commercial development. Additionally, direct access to Queens, Brooklyn & Nassau County further enhances the value proposition, providing additional opportunities for end-users or investors to unlock value.