Mixed-Use Building in Astoria, NY


Executive Summary:

Price: $2,500,000
Building Size: 3,990 SF
Property Type: Mixed-Use
Lot Size:  0.04 Acres
Year Built: 1920
Pro Forma Cap Rate: 6.11%
Pro Forma NOI: $152,824
25-39 Steinway St, Astoria, NY 11103

Investment Highlights

  • For Sale: Mixed-Use Building in Astoria, NY
  • Composed of (1) Commercial Unit & (2) Residential Units
  • Residential Units are 4-Beds 1-Bath
  • Residential Units are Currently Paying Below-Market Rents
  • Utilities are Separately Metered
  • Located Near Astoria Blvd, the Grand Central Pkwy, Northern Blvd, & the Brooklyn Queens Expy
  • Surrounded by Other Neighborhood Retail Spaces such asRestaurants, Pharmacies, Dunkin’, Liquor Stores, & More

Investment Summary

American Investment Properties is retained to sell the building located at 25-39 Steinway St, Astoria. At this location is a mixed-use buildingcomposed of 1 commercial unit and 2 residential units. The residentialunits are currently paying below-market rents.This property is surrounded by several neighborhood retail spacesand is located in a prime spot. Various ways of transportation arelocated in close distance from this property.

About Astoria, NY

Astoria is a neighborhood in the northwestern corner of Queens, aborough in New York City, yet physically part of Long Island. It is bounded by the East River and is adjacent to three other Queensneighborhoods such as Long Island City, Sunnyside, and Woodside.

There are many attractions in Astoria including Kaufman AstoriaStudios Museum of the Moving Image, Isamu Noguchi Museum, and Socrates Sculpture Park. Astoria Park is the largest park in the neighborhood which is along the East River with gorgeous views ofUpper Manhattan and the Queensboro and Hellgate Bridges. TheHell Gate Bridge runs parallel to the Queens span of the TriboroughBridge which connects Queens, the Bronx, and Manhattan. Visitors and residents can see the length of the bridge just east of theroadway.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
[email protected]
(O) 516.393.2300
(F) 516.390.5780

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