$10,500,000
●
House -
For Sale
42-01 28th Avenue
Astoria, NY 11103
Studio
0 Bath
$60,245
Estimated Monthly
$0
HOA / Fees
-0.68%
Cap Rate
About This Property
Mixed-Use Development Opportunity. Introducing an
extraordinary development opportunity in Astoria, NY, 11103. This
prime corner lot, strategically located on the northeast corner of
42nd and 28th Ave in the neighborhood of Astoria, offers immense
potential for experienced developers. The property is zoned
R6 A, R5, C1-2 with a Zoning FAR of 47,100 square feet.
About the Development Project: The impressive Lot size is
approx.14,725 square feet Lot allowing a project for approximately
67,861 total buildable square feet for Residential & Commercial
development. The Complete Plans Building offers a total of 60
Units divided as follows: approx. 4,486 Sf Commercial Space and
approx. 42,600 Sf 45 market rate Rental Units and 15 MIH units.
Plus approx. 8,240 Sf for 28 Parking Spaces. This project has
the benefit of: - Affordable New York 35-year real estate tax
abatement - 421A Footing Documented. - Complete Plans Available &
Survey. - Demolition Completed and Signed-Off. - SOE Complete.
About the location: Astoria's vibrant community, rich
cultural scene, and thriving local businesses make it a highly
sought-after destination. The property's strategic corner location,
close to the commercial Steinway St. and trafficked Astoria Blvd.,
offers excellent visibility and accessibility, attracting a
substantial volume of foot traffic. This location offer direct
access to Midtown Manhattan in under 30 minutes; being adjacent to
multiple transportation options, including the N & W subway lines
and bus lines, further enhances its appeal. Astoria is
currently riding a wave of growth, generating a burgeoning demand
for choice retail spaces, top-tier medical offices, trendy
residential buildings & upscale amenities. Nestled in the heart of
this vibrant area, our premier development site is optimally
located to cater to Astoria's escalating needs. Taking advantage of
the area's premium retail rentals, and the continued demand for
condos priced above $1,000 PSF, and the market's insatiable
appetite for high-priced rental apartments, this property presents
an excellent investment opportunity to join Astoria's progressive
trajectory and continue to shape the district's transformation.
Featured Commercial Sales.
Unit Size
-
Days on Market
178 days
Land Size
0.34 acres
Price per sqft
-
Property Type
House
Property Taxes
$8,688
HOA Dues
-
Year Built
1947
Listed By
Last updated: 5 months ago (OneKey MLS #ONE3514426)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Nov 2, 2023 | Listed by NY Space Finders Inc | $10,500,000 | |
Listed by NY Space Finders Inc |
Property Highlights
Exterior Details
Property Information
Square Footage : 14725
Property Type: Commercial Sale
Property Sub Type: Mixed Use
Building Information
Building Area Units: Square Feet
Lot Information
Lot Size Acres: 0.34
Lot Size Square Feet: 14725
Lot Size Dimensions: 98 x150
Financial Details
Tax Annual Amount: $104,251
Utilities Details
Sewer : Sewer
Location Details
Directions: One block south from Astoria Blvd corner 42nd St. & 28th Ave
County or Parish: Queens
Other Details
On Market Date: 2023-11-02
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Commercial
Loft
-
-
$9,150,000
Nov 20, 2022
$9,150,000
Aug 29, 2023
$2,889/mo
Commercial
Loft
-
-
$9,357,500
Jun 14, 2022
$9,357,500
Sep 14, 2022
$6,717/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|
Building Info
42-1 28th Avenue
42-1 28th Avenue, Astoria, NY 11103
- 3 Units
- 1 Unit for Sale