110-40 Saultell Avenue is a 8,494 Sq. Ft. development site in a high density residential area. Developers will benefit from the R6, MIH zoning by being able to build an as-of-right 40,771 Sq. Ft. mixed-use building with (40) units and 10,192 Sq. Ft. of retail space (proposed).The property was recently re-zoned (October 2020) from R6B to R6, MIH. The lot has 72' of frontage on Saultell Avenue and 120' of frontage on Corona Avenue. The rectangular lot size and multiple street exposures will create efficient floorplates. Developers will also benefit from low carrying costs during the entitlement process with $14,026 in taxes per year. Furthermore, demolition should be minimal due to the size of the current building (3,168 Sq. Ft.). 110-40 Saultell Avenue is located .8 miles from the 111th Street 7-Train Subway Stop which provides access to Manhattan in under 30 minutes, to Flushing in under 10 minutes, and to Hudson Yards (the new Manhattan Mega-Development) in under 35 minutes. The property also benefits from close proximity to high-traffic retail thoroughfares including 111th Street, Junction Boulevard, Northern Boulevard, and Queens Boulevard. This property represents a perfect opportunity for a developer to take advantage of Corona's exploding population growth and supply-constricted housing. All air rights are completely intact.
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