The Property consists of a 2,250 square foot midblock lot with dimensions of 22.42 feet by 100 feet. Zoned M1-5/R7-3, the site allows for up to 11,250 square feet of residential floor area. The site also benefits from waived parking requirements due to its location within a Transit Zone. The surrounding area is characterized by newly built condominium buildings, with few remaining development sites available. Long Island City remains a high-demand market for new residential inventory, with condominium sellouts projected to exceed $1,300 per square foot.