139-03 Franklin Avenue, New York, NY, 11355
$3,800,000
$4,200,000
activeBedrooms
8
Bathrooms
5
Lot Size
3,915 sqft
Year Built
1960
Type
Multi Family
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
Unique redevelopment opportunity in an R6 zoning district with substantial Community Facility development potential. The property currently features two residential units, each offering approximately 1,200 square feet of living space with three bedrooms, two baths, and a private terrace. Both units will be delivered vacant at closing, providing immediate flexibility for occupancy, renovation, income generation, or future redevelopment. The existing first-floor recreation level presents an attractive opportunity for conversion to community facility use, while the upper residential floors may be retained, reconfigured, or incorporated into a broader redevelopment plan. Purchasers may wish to explore the potential for a significant horizontal enlargement, creating a unique mixed-use configuration that combines community facility space with residential occupancy. Particularly well suited for adult day care providers, child care and early education programs, senior service organizations, social service agencies, counseling and wellness centers, educational programs, religious institutions, and other qualifying community facility users. Exceptional Flushing location offering long-term value and redevelopment potential.
Listed by James S. Powers, Tapestry Real Estate of Queens
Listings courtesy of OneKey® MLS as distributed by MLS GRIDBased on information submitted to the MLS GRID as of Jul 10, 2026, 5:44 PM UTC (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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