Mixed Used Affordable Multifamily and Commercial Rental Building for Sale
43 units of affordable units on offer for sale to be fully occupied via housing lottery - sale EXCLUDES the office retail condo portion.
Presenting a distinguished opportunity at 21-11 31st Avenue strategically positioned in one of Queens'
most dynamic and culturally rich neighborhoods. The property benefits from unparalleled accessibility,
situated near major transportation hubs including the N and W subway lines, the Astoria Ferry, and
several bus routes. In close proximity to renowned cultural landmarks such as the Museum of the
Moving Image, Socrates Sculpture Park, and the Noguchi Museum. Additionally, nearby educational
institutions contribute to the area's robust foot traffic.
The property consists of 43 residential 1 bedroom rental units and 2 ground floor free market retail
spaces. All residential units are participating in the HPD Inclusionary Affordable Housing Program.
Currently the residential units are listed for lease on the New York City housing connect website with
over 25,000 applicants who have joined the lottery process. The affordable residential units are
expected to be fully leased by 1Q2025.
The owner is willing to sell either the whole building or to split the residential and commercial.