Astoria NY Real Estate & Land for Sale

Amazing Development Site in Astoria offering a great opportunity to the savvy developer as the current structure could be left in place while enlarging it into a 10 unit building and/or a large community or medical facility. This would save construction costs (no excavation, no foundation, no shoring and little to no underpinning), time and taxes, by filing for an Alteration 1 instead of a New Building. The survey and an architectural opinion are available upon request but we encourage you to verify with your own architect. The oversized lot provides additional parking or outdoor space for entertaining. Total buildable as of right is 7,100 sq/ft PLUS bonus for community facility. Currently Vacant and in average good condition this Legal 4 family detached brick home in Astoria features four 1 Bedroom apartments EASILY convertible to Junior 4s, plus a full finished basement on the oversized 25 x142 feet lot with R6B zoning. Centrally located within 3 blocks to the N and W subway stations at 30th Ave., and close to multiple cafes, restaurants, and entertainment venues. Mount Sinai is in close proximity and it is a great source of tenants. Aside from developing the site, you could use it as it is as a turn key investment in an area with strong appreciation and a very healthy rental market. All the utilities are paid for by the tenants and the building has 4 separate boilers and 4 separate hot water heaters You could combine 2 units to create a larger home while still preserving the rental income. Sites like this, delivered entirely vacant are a rare find in Astoria. If you decide to hold it and rent it as a 4 family to develop it at a later time the Projected income and expenses for the current building is available upon request, (cap rate above 7%). All vacant, no rent stabilization, all free market rents.

DO NOT DISTURB THE TENANTS - LAND FOR SALE - DEVELOPMENT SITE - R5D ZONING ALLOWS 10,000SF BUILDABLE

Prime Astoria/LIC Development Site is being sold as land value. Lot Size 50 x124 R6 Max FAR 2.43 Total Residential Area 13,703 sf. Plus an additional 800 sf. Corridor deductions. Maximum Units 20 ( Please Consult with an architect) A two-family home sits on the lot. Will be delivered Vacant. With an already rich culture in Astoria, the Astoria Cove and Hallets Point projects stand to become the hottest new neighborhoods in Queens and New York City. Explore the local art community by visiting the nearby museums, including Noguchi, MoMA PS1, and the Museum of the Moving Image. The site is three blocks from the Astoria Ferry terminal and a few blocks from the well-renowned Socrates Sculpture Park. Survey Available upon request.