Mixed-Use Property at 45 01 Northern Boulevard Listed

AUCTION

$15,000,000

45 01 Northern Boulevard

68,448 SF

Square Feet

$219

PPSF

Property Description

AUCTION DATE: WEDNESDAY, FEBRUARY 4, 2026 AT 11:00AM EST

Colliers Capital Markets has been exclusively retained to facilitate the UCC process and market the Limited Liability Company Membership Interests for 45-01 Northern Boulevard & 34-08 46th Street in Long Island City, NYC. The two contiguous commercial properties occupy a full blockfront along Northern Boulevard, between 45th and 46th Streets. The properties comprise a mix of industrial, retail, residential, and office uses, with approximately 12,000 square feet of on-site parking.

With full block-through frontage, a versatile mixed-use configuration, and outstanding transportation access, 45-01 Northern Boulevard and 34-08 46th Street offer a rare investment opportunity in one of New York City’s most dynamic and rapidly evolving neighborhoods.

Investment Highlights

Recent Renovations - 45-01 Northern Boulevard was fully renovated in 2023, now including wall-to-wall windows and open floor plates.
Newly-Executed 21,500-SF Lease - A tenant will be tkaing the entire second floor fo the 45-01 Northern Boulevard asset
ICAP Abatement Savings - Over $2.6 million ICAP Abatement savings between 2025 & 2050.
20,000 SF+ Lot Size with On-Site Parking - The combined 22,997-square-foot lot accommodates large floorplates, enabling flexible unit layouts with excellent light and air paired 12,000 square feet of coveted on-site parking.
Convenient Transportation - Blocks away from the E, M, R, N & W subway lines, enabling a direct commute to Midtown South in under 20 minutes, and convenient connectivity across the borough.
High Visibility for Advertising – The properties are situated directly along Northern Boulevard, offering prime retail and advertising visibility, and include two billboards that are fully leased.

Property Details

Year Built

1928

Zoning

M1-1

Lot Size

22,997 SF

Renovated

2023

Listing Type

auction

Purchase Price ($)

Down Payment (%)

Interest Rate (%)

Amortization

Loan Term

Gross Income ($)

Vacancy Rate (%)

Mgmt Fee ($)

Insurance ($)

Maintenance ($)

Utilities ($)

Property Taxes ($)

Reserves ($)

Net Operating Income (NOI)

Debt Service Coverage Ratio (DSCR)

0.00x

Cap Rate

0.00%

Cash Flow (Annual)

-$853,292

Cash-on-Cash Return

-22.75%

Monthly Debt Service

$71,108

Annual Debt Service

$853,292

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Select Property

Address

45 01 Northern Boulevard

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Long Island City Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Auction

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Dylan Kane

Managing Director

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Zach Redding

Managing Director

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Sarah Short

New York Capital Markets

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Dylan Kane

Managing Director

58 closed

Zach Redding

Managing Director

54 closed

Sarah Short

New York Capital Markets

5 closed