7559 188th St - Medical FOR SALE


Fresh Meadows, NY 11366
$7,500,000 USD
929-600-4648
7559 188th St, Fresh Meadows, NY for Sale
$7,500,000 USD
Medical - FOR SALE
1/4
null | Request Cap Rate

7559 188th St
Fresh Meadows, NY 11366


OVERVIEW

Stonefield Real Estate has been exclusively retained to sell 75-59 188th Street, a boutique office building currently under construction in the Fresh Meadows neighborhood of Queens, NY. . BRAND NEW CONSTRUCTION – BUILT-TO-SUIT DELIVERY • Scheduled for completion in Q1 2025 with modern steel-frame construction and premium finishes. • Delivered fully built-to-suit, including flooring, walls, ceilings, bathrooms, partitions, HVAC, electrical, and plumbing. • Flexible floorplan configurations ideal for medical, professional, or creative office users. • Zero deferred maintenance - all core building systems, including roof, structure, elevator, and mechanicals, will be brand new. . FUNCTIONAL LAYOUT WITH PREMIUM AMENITIES • Ground Floor: 2,322 SF • Second Floor: 1,976 SF with rear-facing outdoor terrace • Third Floor: 1,976 SF • Cellar: 3,320 SF with 10' finished ceilings, elevator access, large windows, and private outdoor entrances. • Finished rooftop with elevator access, ideal for outdoor meetings, events, or tenant amenities. • Three on-site parking spaces at the front of the property. . PRIME FRESH MEADOWS LOCATION • Centrally located in a dense, affluent Queens neighborhood with strong residential and commercial demand. • Excellent visibility and accessibility to major thoroughfares, including Union Turnpike, Grand Central Parkway, and Long Island Expressway. • Surrounded by key demand drivers, including St. John’s University, Queens Hospital Center, and multiple retail corridors. . FAVORABLE 15-YEAR ICAP TAX ABATEMENT • Projected to reduce annual real estate taxes to approximately $14,752 during the initial abatement period. • Full benefits remain constant for the first 11 years, with a phased 20% annual reduction over Years 12 through 15. • Detailed abatement projection schedule available upon request.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$778 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

R2A

APN/PARCEL ID

07205-0044

ASK ABOUT THIS PROPERTY

Adam YakubovStonefield Real EstateMore Info
929-600-4648

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Adam YakubovStonefield Real EstateMore Info
929-600-4648

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.