$266-Per-Buildable-SF for Flushing Development Site

A developer paid $11 million for a 17,025-square-foot vacant residential lot at 3129-3139 137th St. in the Flushing neighborhood of Queens.

“Flushing has emerged as one of the fastest growing neighborhoods in Queens, and is an ideal location for commercial and residential development,” said Stephen R. Preuss, senior managing director for Cushman & Wakefield. “This sale offers a prime opportunity to capitalize on Flushing’s rapidly growing population and the demand for residential projects.”

The property is the last large parcel of land available for residential development in the neighborhood. It offers 41,370 buildable square feet. That works out to a price of $266-per-buildable-square-foot.

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