Himmel + Meringoff files $3.3M rehab plans in LIC

Himmel + Meringoff Properties files plans for $3.28 million in renovation work at commercial building at 34-02 Queens Boulevard in Long Island City, Queens. The work covers the facade and the roof of the building.
Himmel + Meringoff Properties acquired the building in 1997 following the bankruptcy of the prior owner.
The 34-02 Queens Boulevard parcel has frontage of 200 feet and is 600 feet deep with a total lot size of 120,032 square feet. The zoning is M1-4 which allows for up to 2 times floor area ratio (FAR) for manufacturing. The city-designated market value for the property in 2022 is $18.9 million. The project has a job number Q00787468 with the New York City Department of Buildings.

The industrial building in Long Island City has 193,822 square feet of built space and 46,812 square feet of additional air rights for a total buildable of 240,064 square feet according to PincusCo analysis of city data.

The 193,822-square-foot property generated revenue of $3.4 million or $17 per square foot, according to the most recent income and expense figures.

According to city public data, the property has received $935 in OATH penalties in the last year.

Over the past five years, there have been 10 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 10 renovation/alteration projects (A2) applied for with a total estimated value of $8 million.

Within a 400-foot radius of 45-59 34 Street, Pincusco identified one commercial real estate item of interests occurred over the past 24 months. It was a loan which Alma Realty borrowed $12.2 million from JPMorgan Chase secured by the 50,000-square-foot, three-unit office building (O5) on 33-10 Queens Boulevard on February 28, 2022.

Direct link to the property’s ACRIS page and link to DOB NOW portal.