Regardless of which megacorporations decide to make a home in NYC, one thing has become apparent – Queens construction opportunities abound. Whether investors are renovating an existing property, taking on an adaptive re-use project, or lining things up for large ground-up construction, a number of hot spots have opened up for lucrative commercial real estate transactions.
Construction Opens in Astoria
NYC has recently subsidized a new ferry spot, stimulating construction and renovations on multi-unit rental buildings. With more businesses coming to NYC, Astoria has opened up as one of the prime locations for future residents and small businesses. Commercial real estate investors and property developers alike have been keeping an eye on Astoria. Land is starting to sell, and the forecast of a higher tenant density has given way to numerous commercial real estate opportunities in Astoria.
Prospects in Flushing
Flushing is poised for growth in a very big way – so much so that some commercial real estate analysts predict it will be on par or exceed Downtown Brooklyn. From retail to middle-market residential properties and even luxury apartments, construction is coming to Flushing, Queens and commercial real estate investors are lining up properties to start generating even more revenue.
Long Island City
A lot of people are still talking about Long Island City well after Amazon’s withdrawal, but there is more to that area of Queens than the possible location of a corporate campus. Long Island City has a bit of everything to appeal to a wide range of commercial real estate investors and property developers. There is an industrial section, retail, corporate, residential, and even some raw land for construction projects. Additionally, Long Island City is targeted with a number of opportunity zones which will offer tax benefits to commercial property owners and those to rehab, renovate, or build in that part of Queens.
Financing Construction in Queens
No two construction projects in Queens are the same. Some people are renovating and expanding existing structures. Others are taking historical buildings and overhauling them for adaptive re-use projects. Others are literally breaking ground for construction that will bring entirely new office space and luxury apartments. Investors and developers alike need financing that can be tailored to the size and scope of their projects. Express Capital Financing specializes in commercial real estate and construction solutions designed for property markets in Queens. Whether you need funding for acquisitions or ongoing capital to long-term construction, Express Capital Financing can help. Contact our offices to get started.