A
30-88 Crescent Street
Long Island City NY, 11102
$9,750,000
$1,770.15 per sqft
A
12 Beds
5,508 sqft
Multi-family
Built in 1940
30,864 BSF Development Opportunity in Prime Astoria! These 3 adjacent properties are a development site in the diverse, high-density, established neighborhood of Astoria. The properties boasts a R6A, R6B zoning, allowing for an "as-of-right" 30,864 Sq. Ft. residential building with (46) units (proposed). The offering consists of 3 adjacent lots: - Lots: 51, 52, 53 - Block: 570 - Zoning: 86% of lot in R6A; 14% in R6B, allowing for 2.8 FAR - Lot Dimensions: 51.5 x 231.72 (Irreg. approx.) The site is located 3 blocks from the 30th Avenue N/W subway stop. The property is also located in between the Hallett's point megadevelopment and the N/W train station which takes you into Manhattan in under 20 minutes. Astoria has seen tremendous growth in both rental (above $60 PSF) and condo pricing (above $1,200 PSF) due to its convenient transportation options, thriving restaurant & bar scene, diverse demographics, and proximity to Manhattan. There are various employment opportunities in the area including a Mount Sinai Hospital expansion as well as the DeNiro/Wildflower studio joint venture being built in Astoria-Ditmars. Long Island City, 4 subway stops away, is home to various fortune 500 company HQs. The property benefits from close proximity to multiple high-traffic areas including: Astoria Boulevard, 21st Street, Broadway, and 30th Avenue, 31st Street and Ditmars Boulevard. This property represents a perfect opportunity for a developer to take advantage of Astoria's fast growth and popular nightlife. All air rights are intact. Key Points: - 30,864 Buildable Sq. Ft. As of Right. (46) Units - Strong Retail Corridor Between Hallet's Point Megadevelopment and N/W Stop. - Strong Growth in Condo and Rental Prices. Close to Nightlife and transportation. Unique Development Opportunity! Zoning Analysis is Available! *Disclaimer: All Information provided is deemed reliable but is not guaranteed and should be independently verified.
3531103
MLSⓇ ID
February 12, 2024
Listed
May 9, 2024
Updated
Map
30-88 Crescent Street
Long Island City NY, 11102
Interior Features
Total Stories
3
Bedrooms
12
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Natural Gas, Hot Water
Exterior/Building Features
Lot Size
0.26 Acres
Lot Features
Level, Near Public Transit
Architectual Style
Two Story
Sewer
Public Sewer
School Information
School District
Queens 30
High School
Frank Sinatra School Of The Arts Hs
Other Property Details
Taxes
$20,340
Tax Frequency
Annually
Garage
No
Parking
On Street
View
No
County
Queens
Municipality
Queens
Water Source
Public
Pool
No
Buyer Agency Compensation
1.5%
Listed by Robert Napolitano with Capri Jet Realty Corp
Listing Contact: 718-388-2188
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Zakinova Team shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 8:32 AM UTC, 5/9/2024