25 unit new construction elevator apartment building for sale · the subject is a new construction,...

23-43 31ST ROAD, ASTORIA, NY 11106

25 Unit New Construction Elevator Apartment Building for Sale


PROPERTY INFORMATION

Full Address: 23-43 31st Road, Astoria, NY 11106 Building Size: 22,371Block / Lot: 569 / 8 (formerly 8,9,10) Year Built: 2019Lot Dimensions: 75’x 136’ irregular Building Dimensions: 75 x 60’Lot Size: 9,192.90 Stories: 5Zoning: R6B Unit Mix: 23 (1) Bedroom / 1Bath

2 (2) Bedroom / 2 Bath

Price $22,250,000Completion November 2019

The Subject is a new construction, luxury, elevator apartment building located at 23-43 31st Road in Astoria. The five-story building consists of (23) one-bedroom units and (2) two-bedroom/two bathroom units. Units at the 3rd and 4th floors have balconies and the 5th Floor front facing units all have walkout private terraces. The building has 13 reserved parking spaces and 12 private storage units. Amenities include a roof deck, lounge, gym, virtual doorman, bike storage room, mailroom area, fully vented kitchen and bathrooms. Washer and dryers are included in each unit.

Located in the heart of Astoria, between the shopping area on Broadway and 30th Avenue and near by Hoyt Playground, Astoria Park. The N & W subway lines are 2 blocks east and access to both the RFK Bridge and I-278 lie just north of the building.

Astoria – NYC Ferry

25 Unit Elevator Apartment Building for Sale

RENT ROLL

Unit BD/BA Size Balcony / Terrace Rent Storage Parking Total Rent Total Annual Rent

1A 1/1 751 n/a $3,000 $50 $350 $3,400 $40,800

1B 1/1 542 n/a $2,700 $50 $350 $3,100 $37,200

2A 1/1 639 n/a $2,800 $50 $350 $3,200 $38,400

2B 1/1 651 n/a $2,800 $50 $350 $3,200 $38,400

2C 1/1 640 n/a $2,800 $50 $350 $3,200 $38,400

2D 1/1 645 n/a $2,800 $50 $350 $3,200 $38,400

2E 1/1 631 n/a $2,800 $50 $350 $3,200 $38,400

2F 1/1 691 n/a $2,800 $50 $350 $3,200 $38,400

3A 1/1 644 Balcony $2,800 $50 $350 $3,200 $38,400

3B 1/1 602 Balcony $2,800 $50 $350 $3,200 $38,400

3C 1/1 617 Balcony $2,800 $50 $350 $3,200 $38,400

3D 1/1 619 Balcony $2,800 $50 $350 $3,200 $38,400

3E 1/1 642 Balcony $2,800 $350 $3,150 $37,800

3F 1/1 691 Balcony $2,900 $2,900 $34,800

4A 1/1 644 Balcony $2,900 $2,900 $34,800

4B 1/1 602 Balcony $2,900 $2,900 $34,800

4C 1/1 617 Balcony $2,900 $2,900 $34,800

4D 1/1 619 Balcony $2,900 $2,900 $34,800

4E 1/1 642 Balcony $2,900 $2,900 $34,800

4F 1/1 691 Balcony $2,900 $2,900 $34,800

5A 2/2 844 Terrace $3,850 $3,850 $46,200

5B 2/2 914 Terrace $3,750 $3,750 $45,000

5C 1/1 676 Terrace $2,950 $2,950 $35,400

5D 1/1 510 N/A $2,700 $2,700 $32,400

5E 1/1 561 N/A $2,900 $2,900 $34,800

TOTAL $72,950 $600 $4,550 $78,100 $937,200


EXPENSE & NET INCOME

REVENUE (projected)

RESIDENTIAL RENT $875,400

PARKING RENT $54,600

STORAGE RENT $7,200

EFFECTIVE GROSS INCOME $937,200

EXPENSES (all approximates)

* REAL ESTATE TAXES (eligible for 35 year tax abatement) $115,000

WATER / SEWER $5,500

INSURANCE $5,600

ELECTRIC $6,250

CLEANING & MAINTENANCE $14,300

SERVICE CONTRACTS $10,200

TOTAL EXPENSES $156,850

NET OPERATING INCOME $780,350

* Real Estate Taxes do not reflect any tax abatement (Affordable NY option C)


FLOOR PLANS

Unit A Unit B Unit C


FLOOR PLANS

Unit DUnit E Unit F


RENDERINGS


HIGHLIGHTS

New Construction, turn key building

Prime location in heart of Astoria

Centrally located between Broadway & 30th Ave shopping and restaurants

Subway 2 blocks to the line

Easy access to both the RFK Bridge and the BQE

Amenities include Roof deck, Tenant Lounge, Gym, private storage, on-site parking, bike

room, virtual doorman and mailroom

Washing Machine & Dryers in all units, kitchens and bathrooms fully vented


23-43 31st ROAD, ASTORIA NY 11106Price $22,250,000Completion November 2019

For More Information, Please Contact:John Danzig Kevin Danzig516-659-7676 [email protected] [email protected]

Danzig Realty Inc. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

25 unit new construction elevator apartment building for sale · the subject is a new construction,...

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