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New York

Rare development site in northern Queens hits the market for $45M

Site in Douglaston spans about 3 acres

From left: David Marx of Marx Development Group, an aerial of 242-22 61st Avenue in Queens and a rendering of 242-22 61st Avenue (Credit: Google Maps and Cushman and Wakefield)
From left: David Marx of Marx Development Group, an aerial of 242-22 61st Avenue in Queens and a rendering of 242-22 61st Avenue (Credit: Google Maps and Cushman and Wakefield)

A roughly three-acre development site by the border of Queens and Nassau County is hitting the market for about $45 million, according to sources familiar with the deal.

Cushman & Wakefield’s Stephen Preuss

David Marx of Marx Development Group is looking to sell the property known as the Douglaston Acres, and a Cushman & Wakefield team led by broker Stephen Preuss is marketing the site. It is located right next to Douglaston Golf Course and just off the Long Island Expressway.

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The site could be used for a residential development spanning up to 110,000 square feet or a community facility spanning up to about 250,000 square feet. Marx has already developed conceptual plans for an assisted living complex on the property that would include parking, medical space and a 200-bed long-term care facility.

The site is addressed at 242-22 61st Avenue in Queens, and the lot spans roughly 122,000 square feet.

It is extremely rare for a development site this large to hit the market in the northern Queens area, sources said. The neighborhood of Douglaston is largely residential, with lots of single-family homes. In the immediate vicinity of the development site is the Douglaston Plaza shopping center, which is owned by Ashkenazy Acquisition, and a two garden apartment complexes.

Shibber Khan’s Criterion Group recently paid about $80 million for a development site just north of Queensboro Plaza in Long Island City, and Preuss is also marketing another development site at 129-02 Northern Boulevard in Willets Point for about $60 million.

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Commercial Real EstateDavid MarxQueens