Pinnacle Realty of New York LLC is pleased to announce that it has been appointed the exclusive agent to facilitate the sale of 36-40 37th Street, Long Island City, New York.
This investment offers buyers a rare chance to acquire a fully leased property with a robust and varied tenant mix in the dynamic, rapidly growing LIC/Astoria area. The 27,500-square-foot asset spans three floors and is leased to multiple tenants. This provides stable income and minimizes vacancy risk. With features such as 12- to 14-foot clear heights, ground-floor drive-in access, elevator service, fireproof construction, comprehensive sprinkler coverage, gas heating, and 600 amps of electrical capacity, the building is equipped for industrial and commercial operations. It is situated within an M1-1 zoning district. This premier property also enjoys strategic placement in both a designated Opportunity Zone and IBZ, which affords additional incentives and growth prospects. The site is ideally suited for warehousing, distribution, biotechnology, research and development, medical facilities, creative industries, and office use. Purchasers can benefit from established leases and capitalize on future vacancies by leasing out at market rates.
36-40 37th Street offers an unparalleled logistics advantage in the heart of Long Island City. Ideally located just moments from the 59th Street/Queensboro Bridge and Manhattan, this prime property is steps away from the E, F, M, and R subway lines, providing employees and tenants with effortless connectivity across New York City. With its proximity to Northern Boulevard and a network of major routes, the site guarantees seamless access to the city’s boroughs and the wider tri-state area. Whether for distributing goods or daily commuting, this centrally positioned asset ensures efficient operations and convenience, making it a standout choice for businesses seeking a top-tier location.
This Long Island City site is strategically located within New York City's robust infill industrial market. It is particularly attractive for businesses that want to be close to the metro area’s 15 million residents and benefit from efficient last-mile delivery. The Port of New York and New Jersey offers enhanced container capacity, and essential air cargo access is available through JFK, LaGuardia, and Newark airports. These transportation networks, combined with a concentrated consumer base, drive strong and sustained demand for industrial space. As a result, investors have compelling opportunities to capitalize on ongoing market growth.