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

  

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