For Sale: 6-Unit Multi-Family Building in Astoria, New York

32-43 43RD ST, ASTORIA, NY 11103

Executive Summary:

Price:	$1,650,000
Building Size:	3,780 SF
Property Type:	Multi-Family
Lot Size:	2,499 SF
Year Built:	1929
Price PSF:	$437
NOI:	$67,996
Location:	32-43 43rd St, Astoria, NY 11103

Property Highlights

Fully-Occupied 6-Unit Multi-Family Building in Astoria, NY
Composed of a Total of 3 Rent-Stabilized Units and 3 Free-Market Units
(4) 2-Bed, 1-Bath, (1) 3-Bed, 1-Bath, (1) 1-Bed, 1-Bath
Current Tenants are Paying Below Market Rents – Opportunity for Rental Growth
Located Half a Block From Broadway, 3 Blocks From Steinway St, and 2 Blocks from Northern Blvd
3 Blocks from the E, F, R Subway Station Located at Both Steinway St and Broadway
Walking Distance to Various Neighborhood Retail Spaces such as Cano Coffee Company, a Butcher Shop, Department Store, Dunkin’, Greek Restaurant, a USPS Post Office, Churches, Car Dealerships, & More

Property Overview

American Investment Properties is retained to sell the building located at 32-43 43rd St, Astoria, NY. At this location is a fully-occupied apartment building consisting of 6 units. There are 3 rent-stabilized units and 3 free-market units. The current tenants are paying under-market rents which provides for a great rental growth opportunity. This property is located near various modes of transportation as well as many retail and neighborhood amenities.

About Astoria

Astoria is a neighborhood in the northwestern corner of Queens, a borough in New York City, yet physically part of Long Island. It is bounded by the East River and is adjacent to three other Queens neighborhoods such as Long Island City, Sunnyside, and Woodside. Astoria is part of Queens Community Board 1.

The New York City Department of Education operates Astoria’s public schools. The school system is the largest system in the United States with over 1.1 million students taught in more than 1,400 separate schools. Astoria is far from exclusively a Greek enclave. Italians, Poles, Czechs and Ukrainians have also long
been part of the mix. Today, they have been joined by Brazilians, Latin Americans from various countries and a Indian and Pakistani population. But the Greek association is real: the area has more Greeks than any urban area outside Athens; Greek food, Greek shop signs, and a variety of Greek newspapers are available
everywhere. Astoria owns the food crown of Queens with more high-quality restaurants, bakeries, and markets than other neighborhoods.