The offering consists of two adjacent properties: 35-52 10th Street, a 20-foot-wide, free-market, brick two-family townhouse, and 35-54 10th Street, a vacant frame one-family home that is planned to be demolished and redeveloped. The proposed plans contemplate a lot subdivision, creating a new L-shaped development parcel at 35-54 10th Street with 28 feet of frontage and a total lot area of approximately 3,283 SF. Located within an R5 zoning district and qualifying under the Predominantly Built-Up Areas Provision (ZR 23-70), the site benefits from an increased maximum FAR of 1.65, compared to the standard 1.50 FAR. Plans can be delivered for a new 6,714 BSF, eight-unit residential building with no affordable housing requirement. The proposed building features a design with a 19'4" building width at the cellar and first floor levels, expanding to the full 28-foot width across the second, third, and fourth floors through cantilevered upper stories. The plans also include a first-floor driveway that extends the length of the lot to a rear yard area capable of accommodating parking. The property is ideally positioned in one of Astoria's most desirable waterfront-adjacent neighborhoods, just steps from Rainey Park, which recently reopened following an $8.5 million renovation completed in 2025. Additional nearby amenities include Costco Wholesale, Halletts Cove Beach, Socrates Sculpture Park, and the rapidly evolving Astoria waterfront, all within easy walking distance. This offering presents a rare opportunity to acquire both an income-producing free-market townhouse and a shovel-ready development site with plans for an eight-unit residential building in one of Queens' most dynamic and supply-constrained neighborhoods.