Overview
Avison Young, as exclusive agent, is pleased to present the opportunity to acquire 45-10 & 45-24 Vernon Boulevard (the “Site”), a premier waterfront development assemblage positioned at the intersection of Anable Basin and Vernon Boulevard in Long Island City, Queens, the epicenter of New York City’s most consequential neighborhood rezoning in over two decades.
The Site comprises two contiguous tax lots totaling 51,720 square feet of land with exceptional tri-frontage exposure: 190 feet of direct Anable Basin waterfront, 285 feet along Vernon Boulevard, and 75 feet along 45th Avenue. Under the newly enacted OneLIC M1-6A/R9 (MIH) the Site allows for 466,515 ZSF of as-of-right development density. Under OneLIC rezoning MIH option one is required, which would result in approximately 116,629 ZFA of MIH.
Investment Highlights
- Irreplaceable Waterfront Positioning - 190 feet of direct Anable Basin frontage — one of the last remaining developable waterfront sites in Long Island City, with unobstructed East River views and mandated public esplanade access.
- As-of-Right — No Rezoning Risk - 466,515 ZSF of density under the newly enacted OneLIC M1-6A/R9 (MIH) rezoning.
- Exceptional Site Scale & Visibility - 51,720 SF assemblage spanning three full frontages,190 ft on Anable Basin, 285 ft on Vernon Boulevard, and 75 ft on 45th Avenue. The Site commands one of the most prominent and visible positions in the entire Hunters Point waterfront corridor.
- Explosive LIC Population & Growth - Long Island City has grown over 40% in the past decade, one of the fastest-growing neighborhoods in New York City. More than 75,000 residents now call the area home, with projections pointing to continued acceleration driven by sustained housing undersupply.
- Market in Structural Imbalance - Vacancy compressed 440 bps in one year; pipeline down 69% YoY; only 636 units under construction. Demand is accelerating precisely as new supply disappears.
- Unmatched Transit Connectivity - Direct access to the 7, E, M, G, and N/W subway lines plus NYC Ferry. Midtown Manhattan is under 10 minutes; Grand Central and Times Square are a single stop away.
- $1.97B Public Sector Catalyst Already Committed - OneLIC secures nearly $2 billion in City infrastructure investment — parks, schools, esplanade, transit upgrades — transforming Anable Basin into a world-class public waterfront destination.
- High-Income, Ownership-Ready Demand Base - Median household income exceeds $157,000; 64% of residents are millennials aged 20–39; only 7% own — not by choice, but by lack of supply. The Site is positioned to capture pent-up ownership demand at scale.
Photo Gallery
Sales Team
