11-35 31st Drive, Astoria NY 11106

Astoria, Queens, New York 11106

$10,600,000  

Listing ID Number

25166

Property Description

Cushman & Wakefield is retained on an exclusive basis for the sale of 11-35 31st Drive, an approximately 45,310 buildable square foot development site in Astoria, Queens. The property is located between Vernon Boulevard and 12th Street along the Astoria waterfront.

Currently on the site exists an approximately 10,000 square foot warehouse building consisting of ground floor and mezzanine space. It is currently net-leased through March 2019 to a single tenant, paying $154,500 per year with 3% yearly increases. The lot is an estimated 9,850 square feet and features approximately 98’ of frontage on 31st Drive. The property sits in an R7A/R5B zone which allows for a maximum ~45,310 buildable square feet for residential development with inclusionary housing.

The property is located in proximity to the N W subway trains along 31st Street. It is also easily accesible via the Brooklyn-Queens Expressway and the Astoria Ferry Terminal. The Astoria Ferry is located less than a half mile north on the Hallets Cove Peninsula. It offers a 30 minute ride to 34th Street and 45 minute ride to Wall Street in NYC with stops in Long Island City and Roosevelt Island.

All property inspections are to be done by appointment only. Please inquire within.

Overview

Building Type:Development/Conversion Sites
Location:Astoria, Queens
Block/Lot:503/41
Lot Dimensions:98' x 100'
approx.
Lot Sq Ft:9,850
approx.
Zoning:R7A / R5B
FAR:4.6
inclusionary housing
Building Sq Ft:10,000
approx.

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen R. Preuss
Senior Managing Director
(718) 512 2118
stephen.preuss@cushwake.com

Andreas Efthymiou
Associate
(718) 512 2621
Andreas.Efthymiou@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.