2534 Steinway St - Apartments FOR SALE


Long Island City, NY 11103
$10,380,000 USD
516-587-9113
2534 Steinway St, Long Island City, NY for Sale
$10,380,000 USD
Apartments - FOR SALE
1/45
null | 5.07% Cap Rate

2534 Steinway St
Long Island City, NY 11103


HIGHLIGHTS

  • Modern Mixed-Use Construction
  • Fully leased residential and commercial units provide immediate cash flow along with strong long-term growth potential
  • Prime LIC / Astoria Location: Located on bustling Steinway Street retail corridor
  • High foot traffic and excellent visibility for commercial tenants
  • Close to vibrant shopping, dining, and cultural amenities
  • Tax Advantages: 421-a Abatement on residential portion / ICAP Abatement on commercial portion

OVERVIEW

Location, Location, Location! Exceptional mixed-use investment opportunity in the heart of Long Island City/Astoria! Built in 2017, this modern 4-story 22,155 SF elevator building offers a fully leased, turn-key setup with 10 residential units and 2 ground-floor commercial spaces. The residential portion includes: Four (4) one-bedroom units on the second floor Four (4) one-bedroom units on the third floor Two (2) spacious two-bedroom, two-bath units on the fourth floor Each unit is separately metered, and tenants pay their own utilities. Additional tenant-friendly features include on-site laundry and individual storage lockers. The commercial units benefit from excellent visibility and foot traffic on Steinway Street, one of Queens’ most active retail corridors. Both units include basement access, enhancing their usability and tenant appeal. Situated on a 4,750 SF lot with C4-2A zoning, the building enjoys significant tax advantages, including a 421-a abatement on the residential portion and ICAP abatement on the commercial units—keeping 2024 property taxes at just $34,663. Conveniently located near multiple public transit options: Walking distance to N/W and M/R subway lines Steps from multiple MTA bus routes Quick access to BQE, Grand Central Parkway, and RFK Bridge This is a rare chance to own a modern, low-maintenance, income-generating asset in one of Queens’ most dynamic and accessible neighborhoods. With stable in-place cash flow, long-term upside, and ideal positioning for 1031 exchange buyers or long-term investors, this property checks every box. Schedule your private tour today and discover the full value of this premier mixed-use asset!

FOR SALE DETAILS

PRICE

$10,380,000 USD

PRICE/SF

$728 USD /SF

# OF UNITS

10

PRICE/UNIT

$1,038,000

CAP RATE

5.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New Construction Mix-Use for Sale

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2017

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

C4-2A

APN/PARCEL ID

00654-1201

ASK ABOUT THIS PROPERTY

Fei GuoSkylux Realty, IncMore Info
516-587-9113

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Fei GuoSkylux Realty, IncMore Info
516-587-9113

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