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Two Speedway Gas Station Sites on LIC, Sunnyside Border Up For Sale in $45.5 Million Package

Speedway on Queens Boulevard (Google Maps)

Feb. 12, 2018 By Nathaly Pesantez

Two properties on the Long Island City/Sunnyside border currently occupied by Speedway gas stations and convenience stores are up for sale in a $45.5 million package sales agents are marketing as major development sites.

The sale of the properties, 39-02 Queens Blvd. and 39-04 Northern Blvd., is being managed by Eastern Consolidated, the real estate brokerage based in Manhattan.

The Queens Boulevard property features over 20,000 square feet of land area, and is within an M1-4 zoning district, meaning a developer can bring a commercial, manufacturing, or community facility there. A community facility would allow for the developer to build higher on the land, however.

Speedway at 39-04 Northern Blvd. (Google Maps)

The Northern Boulevard location is just under 40,000 square feet, and can also see a commercial, manufacturing, or community facility on site.

Eastern Consolidated notes that the two properties are on major thoroughfares on opposite sides of Sunnyside Yards and at walking distance from subway stations.

The brokerage’s deadline to bid on either the package or an individual Speedway property was on Jan. 26.

The managing directors in charge of the properties said they are unable to comment on how many bids were received and on when they expect to announce the selected bidder.

Speedway did not respond to a request for comment by press time.

The two gas stations were once under the ownership of Hess, until Speedway acquired the company’s retail operations in 2014 and rebranded their sites.

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Next up will be Mobil and the 7/11, Wendy’s, and White Castle… I envision something similar to the movie theater type of building going up on 38/Queens Blvd. All 8-12 floor mixed-use buildings with overpriced rentals +$2500 for a 1BR and a City MD on the ground floor. This is where the neighborhood starts to suck. It’s nice to see more rentals come and we don’t need full lots for fast food chains but it isn’t like we are going to see a nice restaurant on the ground floor. City MD, a high-end wine store, Tribeca Pediatrics, a Citibank, Chipotle?

LIC Neighbor

Another high rise or better yet a Mayor Di Blasio community jail since they are closing Riker’s Island or community homeless shelter. Probably the Cube Smart Storage facility up the street will be sold so they can build a high rise, a hotel on that site.


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