LONG ISLAND CITY — More development could be on the way for Dutch Kills, as a 7,500-square-foot lot in the neighborhood is on the market with a more than $5 million price tag.
Once home to an artist's studio and garden, the site at 40-36 24th St. is being sold for $5.25 million, according to an announcement from Ariel Property Advisors, which is selling the property on behalf of its owner.
Located within the city's Special Long Island City Mixed Use District, a developer could build up to 22,500 square feet of residential, retail and manufacturing space on the lot, the company said.
The 75-by-100-foot site is just off of 41st Avenue, an area the seller called "one of the most active neighborhoods for developers in New York City."
Dutch Kills has been home to both a hotel boom and more residential development in recent years. Nearby projects include Q41, a high-rise building where Brooklyn Boulders opened a gym last year and QLIC, a 21-story rental that opened last summer and has a pool on the roof.
Ariel Property Advisors declined to reveal the owner of 40-36 24th St., other than to say it's a private investor.
City records list the owner as Eastone 4036 24th Street Management LLC, which bought the site in December for $4.25 million, records show.
