Prime development opportunity in LIC. Potential to have 1 commercial unit underneath for the whole with an FAR of 4. FAR of 3 for the residential portion to potentially build 10 units. This property features a 3-bedroom, 1-bath house built in 1920, spanning 1,540 square feet on a 0.05 acre lot. it's located one block from northern boulevard and is being sold in "as-is" condition. zoned m1-2/r6a, the house is about 22x35 feet (1,540 sqft), and the lot size is approximately 25x90 feet (2,254 sqft). the potential buildable area is 6,762 sqft. it's half a block from the 39th ave./dutch kills train subway station, making it very close to Manhattan.
38-20 31st Street, New York, (Long Island City), NY, 11101
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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