Jan. 15, 2019 By Meghan Sackman
The Continental Avenue building currently home to an HSBC Bank has gone up for sale, with an asking price of $16.5 million.
The brick building, located at 107-15 Continental Ave., spans about 9,000 square feet, and features a half-timbered facade emblematic of Forest Hills’ architecture.
The bank’s lease at the site is set to expire in July 2019, according to Goldenwood Property Advisors (GWP), which is arranging the sale.
The 6,500 square foot property, which has housed a bank tenant on site since construction in 1974, is zoned to commercial use and is within the Special Forest Hills District, allowing for a 26,000 square foot development.
The zoning, according to Rubin Isak, founding partner of (GWP), is flexible and allows for a wide mix of commercial uses. A buyer, for example, can build a mixed-use retail and hotel project on site.
Despite the building’s historic look, it is not a landmarked building, and does not lie in a historic district, meaning future developers will be allowed to tear it down and redevelop it completely.