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.