917-226-3980
21-11 31st Ave, Astoria, NY for Sale
Apartments - FOR SALE
1/6
null | 5% Cap Rate

21-11 31st Ave
Astoria, NY 11106
Downtown Astoria


HIGHLIGHTS

  • New Construction Rental Building
  • Stable Income Producing Portfolio
  • Prime Location in Astoria and close to all

OVERVIEW

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.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

43

CAP RATE

5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

9

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

C2-3 overlays R7A & R6A

APN/PARCEL ID

00551-0012

ASK ABOUT THIS PROPERTY

Vicki SaaliGlobal Real Estate Ventures Group, LLCMore Info
917-226-3980

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Vicki SaaliGlobal Real Estate Ventures Group, LLCMore Info
917-226-3980

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.