Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively To Sell Development Site In Astoria

02/03/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a development site at 30-61 – 30-63 31st Street. The property is located between 30th and 31st Avenues in the Astoria neighborhood of Queens.  The asking price is $3,000,000.

The site consists of two adjacent tax lots with a total footprint of approximately 4,000 square feet and combined dimensions of 50’ x 80’.  It currently contains a three-family brick apartment building and two garage structures.  The site’s current zoning designation of C4-3 yields a maximum FAR of 3.4, giving the property approximately 13,600 buildable square feet for mixed-use development.  An FAR of 4.8 is achievable by providing community use space for a total of approximately 19,200 buildable square feet. 

This site is conveniently located in the heart of Astoria, in close proximity to major transit lines including the N, Q, R, and M trains as well as various bus routes.  Nearby Mount Sinai Medical Center is currently undergoing a $125,000,000 expansion that will bring additional jobs and people to the area.  The site’s prime location and available air rights make this property an excellent development opportunity.

“As land continues to trade at record numbers due to the continued desirability of Long Island City and Astoria, we anticipate great interest for this excellent development opportunity,” This property is being marketed exclusively by Massey Knakal’s Evan J. Daniel, who is exclusively marketing this property.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.


www.masseyknakal.com

02/03/2014 - 09:55

Source

Cushman & Wakefield Capital Markets Group New York

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