25-70 31ST STREET ASTORIA, NY Prime Development Site
FOR SALE
6,375 Buildable Square Feet As-of-Right
PROPERTY FEATURES Cushman & Wakefield is pleased to announce that it has been hired on an exclusive basis to arrange for the sale of 25-70 31ST Street in Astoria. The subject property features a lot size of 1,875 square feet, with a one-story garage that occupies the entire lot. The property is situated within a C4-3 zoning and features a total development potential of approximately 6,375 square feet, as of right, posing a prime development opportunity in the heart of Astoria. The property also features direct access to all of New York City’s major distribution channels such as the Triborough Bridge, Queens Borough Bridge, Grand Central Parkway, Long Island Expressway, Midtown Tunnel, BQE and in close proximity to N and Q trains.
BUILDING FEATURES ASKING PRICE
ADDRESS
25-70 31st Street, Astoria NY
$1,500,000
BLOCK / LOTS
598 / 54
LOCATION
31st Street between Astoria Blvd & Newton Avenue
LOT DIMENSIONS
25’ x 75’
EXISTING BUILDING SF
1,875
LOT SIZE
1,875
ZONING
C4-3
FAR (AS OF RIGHT)
3.4
TOTAL BUILDABLE SF
6,375 As-Of-Right
TAXES (15/16)
$10,282
FOR MORE INFORMATION, PLEASE CONTACT: Stephen R. Preuss Executive Director (718) 512 2118
[email protected] David Chkheidze Director (718) 512 2620
[email protected] Conrad Martin Senior Associate (718) 512 2625
[email protected] Kevin Louie Associate (718) 512 2627
[email protected] CUSHMAN & WAKEFIELD 118-35 Queens Boulevard 14th Floor Forest Hills, NY 11375 nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
25-70 31ST STREET, ASTORIA
AREA
<XXX> SF AVAILABLE DEVELOPMENTS (3 LINES MAXIMUM)
FOR SALE
CLOCKWISE FROM BOTTOM LEFT: 33-19 BROADWAY
31-51 31ST STREET
30-40 21ST STREET
11-07 WELLING COURT
25-19 27TH STREET
23-88 31ST STREET
FOR MORE INFORMATION, PLEASE CONTACT: Stephen R. Preuss Executive Director (718) 512 2118
[email protected] David Chkheidze Director (718) 512 2620
[email protected] Conrad Martin Senior Associate (718) 512 2625
[email protected] Kevin Louie Associate (718) 512 2627
[email protected] CUSHMAN & WAKEFIELD 118-35 Queens Boulevard 14th Floor Forest Hills, NY 11375 nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
25-70 31ST STREET, ASTORIA
NEIGHBORHOOD <XXX> SF CHARACTER AVAILABLE
FOR SALE
(3 LINES MAXIMUM)
Transportation
Triborough Bridge and the Hell Gate Bridge spanning Astoria Park and the Astoria Pool
History The area now known as Astoria was originally called Hallett's Cove, after its first landowner William Hallett, who settled there in 1659 with his wife, Elizabeth Fones. Beginning in the early 19th century, affluent New Yorkers constructed large residences around 12th and 14th streets, an area that later became known as Astoria Village (now Old Astoria). Hallett's Cove, founded in 1839 by fur merchant Stephen A. Halsey, was a noted recreational destination and resort for Manhattan's wealthy. Today, much of the Astoria waterfront is being redeveloped and underutilized industrial sites in forgotten historic neighborhoods are being revived. Halletts Point is one of five former industrial sites on the waterfront being transformed, and will bring seven new mixed-use residential towers, including 2,000 market-rate units and 500 affordable units, into the neighborhood. The development will also include new waterfront parks, a supermarket, retail shops and restaurants, and two new schools. These waterfront projects were designed by a New York architectural firm, in conjunction with private developers, city agencies and landscape architects.
Astoria is served by the E M R trains of the New York City Subway that stop at Steinway Street and 46th Street stations on the underground IND Queens Boulevard Line as well as the N Q trains which run along the elevated BMT Astoria Line above 31st Street. The primary streets running north-south are Vernon Boulevard along the East River; 21st Street, a major traffic artery with a mix of residential, commercial and industrial areas; 31st Street; and Steinway Street (named for Heinrich Engelhard Steinweg (later Henry E. Steinway), founder of the piano company Steinway & Sons), a major commercial street with many retail stores, and a very prominent Middle Eastern section between Astoria Boulevard and 28th Avenue, the area is full of Middle Eastern food restaurants which present some local types of food from Lebanon, Egypt and Morocco, most food in these restaurants is Halal to suit the Muslim residents who are main customers in this neighborhood. The 21st Street – Queensbridge subway station (F train) also serves the area.
FOR MORE INFORMATION, PLEASE CONTACT: Stephen R. Preuss Executive Director (718) 512 2118
[email protected] David Chkheidze Director (718) 512 2620
[email protected] Conrad Martin Senior Associate (718) 512 2625
[email protected] Kevin Louie Associate (718) 512 2627
[email protected] CUSHMAN & WAKEFIELD 118-35 Queens Boulevard 14th Floor Forest Hills, NY 11375 nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)