The Real Deal New York

Elmhurst diner lists parking lot for $24M

Multiplex cinema, shopping complex was once planned for site

March 04, 2014 03:30PM

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86-55 Queens Boulevard

86-55 Queens Boulevard

A 47,000-square-foot portion of an Elmhurst parking lot, once part of the plan for a multiplex and mall development, is back on the market for $24 million.

The lot on the corner of Justice and 55th avenues in Queens, a block from Queens Boulevard, also boasts over 200,000 square feet in development rights. Owned by Georgia Diner at 86-55 Queens Boulevard, the lot is zoned for both residential and commercial development. Approved plans for such a development are available, according to the listing, though it is not immediately clear what they are.

Massey Knakal’s Thomas Donovan and Stephen Palmese have the listing.

A manager at the restaurant, who asked to remain anonymous, told DNAinfo that the diner occasionally lists the land to to see see what kind of offers can be gleaned. “It doesn’t cost anything to list it,” he told the news site.

Plans to turn the lot into a multiplex theater and shopping center were tossed around back in 1999 — similar to those proposed by the Mattone Group to build another multiplex nearby. But a decline in the industry dimmed interest in both multiplex plans, and the two lots have since sat vacant. [DNAinfo]Julie Strickland

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