delivered vacant - Massey Knakal
FOR SALE - DELIVERED VACANT NEWLY CONSTRUCTED LUXURY 14-UNIT ELEVATORED APARTMENT BUILDING 30-83 23RD STREET, ASTORIA, NY 11102 Property Highlights Location
East side of 23rd St between 31st Ave and 30th Dr
Block / Lot
570 / 24
Building Sq. Ft.
14,104 SF (approx.)
Lot Sq. Ft.
5,550 SF (approx.)
Lot Size
55.5’ X 100’
Residential Units
14
Stories
5
Assessment (17/18)
$337,098
Current RE Taxes
$43,458.67 (Tax Class 2)
RE Taxes After Abatement
$5,200.00 (approx.)
Property Description Cushman & Wakefield has been retained on an exclusive basis for the sale of 30-83 23rd Street, Astoria, Queens. The property is a newly constructed five-story, 14-unit elevator serviced luxury apartment building, located on the east side of 23rd Street between 31st Avenue and 30th Drive in Astoria, Queens, just a short walk to the 30th Avenue and Broadway subway stations, the Astoria Ferry, and numerous bus lines. The building consists of fourteen (1) bedroom apartments with a balcony and luxury condo finishes, seven parking spaces, a community lounge area, a fitness room, and a common rooftop deck. The property is currently vacant and is deemed eligible for 421-A partial tax exemption. This is an excellent opportunity for an investor with a 1031 exchange. All property inspections must be made by appointment only. Please contact exclusive agents for additional information.
ASKING PRICE: $9,250,000 Revenue (projected) 1st Floor
7 Parking Spaces
@ $300/space
$25,200
2nd Floor
Four 1-Bedroom Apartments (~2,538 Net SF)
@$49/sf
$124,362
3rd Floor
Four 1-Bedroom Apartments (~2,538 Net SF)
@$50/sf
$126,900
4th Floor
Four 1-Bedroom Apartments (~2,538 Net SF)
@$51/sf
$129,438
5th Floor
Two 1-Bedroom Apartments (~1,360 Net SF)
@$52/sf
$70,720
Total
$476,620
Financial Summary (projected) Gross Annual Apartment Revenue:
$451,420.00
Gross Annual Parking Revenue:
$25,200.00
Estimated Taxes (with pending 421-A abatement):
$5,200.00
Estimated Operating Expenses:
$36,388.70
Management Fee (3%):
$14,298.60
Net Operating Income (projected): Thomas A. Donovan
Vice Chairman +1 718 512 2626 [email protected]
Tommy Lin
Director +1 718 512 2609 [email protected]
$420,732.70 Eugene Kim
Director +1 718 512 2618 [email protected]
Robert Rappa
Associate Director +1 718 512 2601 [email protected]
118-35 Queens Blvd, 14th Fl. Forest Hills, NY 11375 Main +1 718 275 3400 Fax +1 718 275 5478 cushmanwakefield.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE - DELIVERED VACANT NEWLY CONSTRUCTED LUXURY 14-UNIT ELEVATORED APARTMENT BUILDING 30-83 23RD STREET, ASTORIA, NY 11102 Property Location
30-83 23rd St
Property Tax Map
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE - DELIVERED VACANT NEWLY CONSTRUCTED LUXURY 14-UNIT ELEVATORED APARTMENT BUILDING 30-83 23RD STREET, ASTORIA, NY 11102
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
East side of 23rd St between 31st Ave and 30th Dr
Block / Lot
570 / 24
Building Sq. Ft.
14,104 SF (approx.)
Lot Sq. Ft.
5,550 SF (approx.)
Lot Size
55.5’ X 100’
Residential Units
14
Stories
5
Assessment (17/18)
$337,098
Current RE Taxes
$43,458.67 (Tax Class 2)
RE Taxes After Abatement
$5,200.00 (approx.)
Property Description Cushman & Wakefield has been retained on an exclusive basis for the sale of 30-83 23rd Street, Astoria, Queens. The property is a newly constructed five-story, 14-unit elevator serviced luxury apartment building, located on the east side of 23rd Street between 31st Avenue and 30th Drive in Astoria, Queens, just a short walk to the 30th Avenue and Broadway subway stations, the Astoria Ferry, and numerous bus lines. The building consists of fourteen (1) bedroom apartments with a balcony and luxury condo finishes, seven parking spaces, a community lounge area, a fitness room, and a common rooftop deck. The property is currently vacant and is deemed eligible for 421-A partial tax exemption. This is an excellent opportunity for an investor with a 1031 exchange. All property inspections must be made by appointment only. Please contact exclusive agents for additional information.
ASKING PRICE: $9,250,000 Revenue (projected) 1st Floor
7 Parking Spaces
@ $300/space
$25,200
2nd Floor
Four 1-Bedroom Apartments (~2,538 Net SF)
@$49/sf
$124,362
3rd Floor
Four 1-Bedroom Apartments (~2,538 Net SF)
@$50/sf
$126,900
4th Floor
Four 1-Bedroom Apartments (~2,538 Net SF)
@$51/sf
$129,438
5th Floor
Two 1-Bedroom Apartments (~1,360 Net SF)
@$52/sf
$70,720
Total
$476,620
Financial Summary (projected) Gross Annual Apartment Revenue:
$451,420.00
Gross Annual Parking Revenue:
$25,200.00
Estimated Taxes (with pending 421-A abatement):
$5,200.00
Estimated Operating Expenses:
$36,388.70
Management Fee (3%):
$14,298.60
Net Operating Income (projected): Thomas A. Donovan
Vice Chairman +1 718 512 2626 [email protected]
Tommy Lin
Director +1 718 512 2609 [email protected]
$420,732.70 Eugene Kim
Director +1 718 512 2618 [email protected]
Robert Rappa
Associate Director +1 718 512 2601 [email protected]
118-35 Queens Blvd, 14th Fl. Forest Hills, NY 11375 Main +1 718 275 3400 Fax +1 718 275 5478 cushmanwakefield.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE - DELIVERED VACANT NEWLY CONSTRUCTED LUXURY 14-UNIT ELEVATORED APARTMENT BUILDING 30-83 23RD STREET, ASTORIA, NY 11102 Property Location
30-83 23rd St
Property Tax Map
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE - DELIVERED VACANT NEWLY CONSTRUCTED LUXURY 14-UNIT ELEVATORED APARTMENT BUILDING 30-83 23RD STREET, ASTORIA, NY 11102
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
