Updated 5 years ago
Off Market
25-81 31st Street
Astoria, Queens | Astoria Blvd & 28th Ave
12 Rooms8 Beds4.5 Baths2,532 Square FeetMulti-Family
$2,000,000
floors / apts3 / 3
Lot Size25'x134'
Built Size22'x36'
ZoneC4-3
Building TypeHouse
RE Taxes$7,728
Price Per SF
$790
Outdoor space and views
- Garden
- Porch
- Garden Views
Building Amenities
- Garden
Property Description for 25-81 31st Street
Location Location Location! with Tons of Air Rights!
This 2,532 SF Three Family home with a 1,200 SF garden sits on a 3,350 SF lot in Astoria's most coveted location. This is a fantastic Re-Development or Cash flowing opportunity with a 3.5% CAP rate as is, and tremendous upside if demolished. At $175 per buildable SF and 8,858 remaining buildable square feet this property can sell out at over $12,000,000 with ground floor commercial.
The allowable usable floor area is 11,390 SF making this a prime spot for a 7-story property with ground floor commercial. The Max FAR is 3.40. As built the property is currently at 0.76 FAR.
Currently the three existing residential units are all rented out on month-to-month leases. Current Annual Rent Roll is: $79,200.
The property can be delivered with tenants or vacant.
Located one block from both the N&W Astoria Blvd and 30th Avenue Subway stops.
Video Walkthrough
Building Details for 25-81 31st Street
OwnershipMulti-Family
Building TypeHouse
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts3/3
Transit and Citi Bike
Subway
Astoria Blvd
0.15 miles
30 Av
0.16 miles
Citi Bike
31 St & Newtown Ave
0.1 miles
31 St & Astoria Blvd
0.12 miles
Astoria | Queens
Quick Profile
Although Astoria is largely a residential neighborhood, it is filled with unique mom-and-pop shops, trendy boutiques, a plethora of dining options representing cuisines from around the world, and lush green spaces where you can relax, walk along the East River, or just enjoy the Manhattan skyline.
The atmosphere is laid back and almost small-town. In addition to luxury condos, pre-war buildings, single-family and semi-detached brick buildings, you will find low-rise buildings with apartments available at lower rents than are available in nearby Manhattan. If you enjoy shopping, you will find everything from locally handcrafted apparel and decor items to vintage treasures just waiting to be repurposed.
Astoria has long been known as a hub of Greek culture, with a burgeoning Greek community. You can barely walk a block without an opportunity to eat Greek food or experience some aspect of Greek culture. The Italian community is also quite large and well-represented in Astoria. Lately, there has been an influx of immigrants from all corners of the globe, making Astoria truly multicultural, and giving rise to eateries that offer unique gastronomic treats.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 78020TH
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