27th Street is becoming a hot commodity in Court Square.
The street is already the home of luxury rental 27 on 27th and the upcoming condominium Ivy28,1 and also has a potential bar/restaurant opening.2 The latest entry on this street is 42-43 27th Street, which hit the market at a cool $1.7 million on Wednesday.
The former site of Metro Auto Leasing is a 1,865 square foot space is zoned for mixed use, so the next owner can certainly build a residential space on top of the existing retail building. Here is the the description from the listing from Douglas Elliman:3
Mixed use building available for sale in the hottest Long Island City area Court Square. Prime development opportunity for a 5 story boutique rental or condominium building with a ground floor retail component. Currently built as a one story retail space with 1865 sqft and can be built up to 9325 sqft. Easily accessible to the 7,N,Q,E,M and R trains.