Assignments

Prime Astoria Condo Development Site

31-28 28th Rd, Astoria, NY 11102

31-28 28th Rd, Astoria, NY 11102

under contract

Asking
Sale Price
$
1995000
1995000

Property Details

Status
For Sale
Property Type
Residential Development Site
Price Summary
$
1995000
Sale Price
$
1995000
Buildable SF
7074
Building SF
7074
LOT SF
7074
Cap RATE
%
Zoning
R6B

Highlights

  • 27’ x 130’ Lot Zoned R6B. 7,074 Buildable Sq. Ft. As-of-Right.
  • Located 2 blocks from the N/W Subway stop at 30th Avenue/31st Street.
  • Fully Detached Building reducing the cost of the demolition.
  • Waived parking requirements due to the location in a transit zone.
  • Thriving pocket of Astoria with condos exceeding $1,300/SF and rentals exceeding $65/SF.

Property DEscription

31-28 28th Rd is a highly desirable development site in Astoria, Queens. Zoned R6B and situated on a 27’ x 131’ lot, the property offers approximately 7,074 buildable square feet, creating an excellent opportunity for a new residential project in one of the borough’s most in-demand neighborhoods. The site will be delivered vacant and includes an existing 1,910 square foot two-family home, giving a buyer a clear and straightforward path to redevelopment. With convenient access to the subway, the location is well suited for a boutique condominium building that aligns with strong buyer demand for new construction product in Astoria. With Astoria continuing to see strong demand for new residential product, 31 -28 28th Rd presents a compelling opportunity to execute a boutique condo development in a proven market. Recent sellouts in the area have exceeded $1,300 per square foot, supporting an attractive basis and clear exit potential for a developer or investor.

Map

Dean Abouelhassan
Senior Associate
(516) 532-5385
DA@landairnyc.com

Documents

Offering Memorandum
Data Room

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