Astoria Boutique Development Site 8,106 Buildable Sq. Ft.
21-16 30th Ave, Astoria, NY 11102 - an enticing development opportunity designed for strategic investors. This mid-block lot spans 3,005 Sq. Ft., boasting dimensions of 21' x 143'. Zoned R6A and R6B, the property permits the construction of an 8,106 Sq. Ft. residential building, offering ample space for a thoughtfully planned project. Currently featuring a 50% vacant, 3,591 Sq Ft., 2-family building on-site, this property provides a unique advantage for potential investors. With existing rental units, investors can collect cash-flow while formulating their development plans, ensuring a prudent and profitable approach to the project. Situated just 0.4 miles from the 30th Avenue N & W train subway stop, this property offers easy access to Manhattan, enhancing its appeal for future residents. Surrounded by condo buildings and located in an area with scarce available lots for development, this property stands out as a prime investment opportunity. Astoria, a highly desirable Queens submarket, holds promising potential for developers, with anticipated condo sellouts exceeding $1,200 per square foot and rental pricing at approximately $65 per square foot. Seize this opportunity now to maximize returns in one of Queens' most sought-after neighborhoods.
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