Astoria Boutique Condo Development Site

31-42 38th Street, Astoria, NY 11103

Asking

1575000

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Property Details

Property Type

Residential Development Site

Price Summary

1575000

Buildable SF

5000

Building SF

5000

LOT SF

5000

Cap RATE

Zoning

R6B

Highlights

2,500 Sq. Ft. Lot Zoned R6B.
~5,000 BSF - 7 Units - 4 Stories - Parking Waived
Located .2 Miles from Steinway Street Subway Stop (M/R Train)
Close to Major Thoroughfares Including Steinway Street & Broadway
Currently (2) Apartments - 3br/1ba + 3br/1ba.
Includes a Backyard ADU that can be legalized.

Property DEscription

Exceptional development opportunity in Astoria. This prime development site totals 2,500 sq. ft., with lot dimensions of 25 ft x 100 ft. Located midblock in R6B zoning, it allows for a 5,000 sq. ft. residential building. The existing 1,344 sq. ft. residential building can be delivered vacant. With Astoria's consistently strong real estate market, this is a prime investment opportunity.