Astoria Central

Astoria, Astoria, New York 11106

Listing ID Number

25487

Property Description

Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of Astoria Central, one of NYC’s premier newly constructed residential properties located at 31-57 31st Street (the “Property”), ideally positioned in the heart of Downtown Astoria, Queens.

The 7-story, 114 unit luxury elevator serviced rental property totals 122,516 square feet above grade and features a diversified income stream including residential, retail, community facility and garage components.

The Property sits across from the Broadway N/W subway station providing residents easy access to Court Square, Midtown Manhattan, Grand Central Terminal and Hudson Yards. Designed by SLCE Architects and completed in 2016, Astoria Central has emerged as a coveted destination within the Queens residential market and offers a favorable value dynamic in relation to Manhattan, Long Island City and the popular neighborhoods of north Brooklyn. The property stands out from the competition and fills a void in the local marketplace created by a lack of new luxury product, especially of similar quality and scale, that will continue to drive leasing activity as Astoria’s popularity grows.

Astoria Central represents a rare opportunity to acquire a meticulously constructed, fully amenitized luxury rental asset in one of New York City’s most popular neighborhoods. Known for its cultural attractions, prolific nightlife and diverse restaurant options, Astoria is in the midst of a rapid transformation to a true residential destination for millennials and families seeking a sustainable NYC lifestyle. As such, Astoria Central is well positioned to absorb future rental demand and further establish itself as one of Astoria’s most coveted residential assets.

Overview

Building Type:Apartment Buildings, Mixed-Use Investment Buildings
Location:On the west side of 31st Street between Broadway and 31st Avenue
Block/Lot:613/1201, 1202, 1203, 1204, 1205
Lot Dimensions:325' x 80'
Stories:7
Plus Cellar and Subcellar
Residential Units:114
Commercial Units:9
Building Sq Ft:147,927
Building Dimensions:325' x 80'

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen P. Palmese
Vice Chairman
(718) 307-6552
stephen.palmese@cushwake.com

Thomas A. Donovan
Vice Chairman
(718) 512 2626
tom.donovan@cushwake.com

Hall Oster
Senior Managing Director
(212) 660 7723
hall.oster@cushwake.com


Property Images

Click the image for a high resolution version.

<     /     >

Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.