newly constructed luxury astoria apartment …
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Property HighlightsLocation East side of 23rd St between
31st Ave and 30th Dr
Block / Lot 570 / 24
Building Sq. Ft. 14,104 SF (approx.)
Lot Sq. Ft. 5,550 SF (approx.)
Lot Size 55.5’ X 100’
Residential Units 14
Stories 5
Assessment (17/18) $74,105
RE Taxes (W/ Abatement) $9,425.41 (Tax Class 2)
Thomas A. DonovanVice Chairman +1 718 512 2626 [email protected]
Eugene KimDirector +1 718 512 2618 [email protected]
Tommy Lin Director +1 718 512 2609 [email protected]
118-35 Queens Blvd, 14th Fl.Forest Hills, NY 11375 Main +1 718 275 3400 Fax +1 718 275 5478cushmanwakefield.com
Robert Rappa Director +1 718 512 2601 [email protected]
Property DescriptionCushman & Wakefield has been retained on an exclusive basis for the sale of 30-83 23rd Street, Astoria, Queens. The property is a newly constructed five-story, 14-unit elevator serviced lux-ury apartment building, located on the east side of 23rd Street between 31st Avenue and 30th Drive in Astoria, Queens, just a short walk to the 30th Avenue and Broadway subway stations, the Astoria Ferry, and numerous bus lines. The build-ing consists of fourteen (1) bedroom apartments with a balcony and luxury condo finishes, seven parking spaces, a community lounge area, a fitness room, and a common rooftop deck. The property is deemed eligible for 421-A partial tax exemption. This is an excellent opportunity for an investor with a 1031 exchange. All property inspections must be made by appointment only. Please contact exclusive agents for additional information.
ASKING PRICE: $8,750,000
NEWLY CONSTRUCTED LUXURY ASTORIA APARTMENT BUILDING FOR SALE
Cushman & Wakefield Copyright 2015. 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.
30-83 23RD STREET, ASTORIA, NY 11102
30-8323rd St
4.6% Cap Rate / 18.48 GRM
NEWLY CONSTRUCTED LUXURY ASTORIA APARTMENT BUILDING FOR SALE
Cushman & Wakefield Copyright 2015. 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.
30-83 23RD STREET, ASTORIA, NY 11102
Revenue (actual/projected)
UNIT LXP TYPE STATUS SF R.P.S.F MONTHLY RENT ANNUAL RENT2A 11/30/18 1-Bedroom RS 630 $48.57 $2,550 $30,600
2B 12/30/18 1-Bedroom RS 630 $48.57 $2,550 $30,600
2C 10/31/18 1-Bedroom RS 638 $48.90 $2,600 $31,200
2D 11/30/18 1-Bedroom RS 638 $48.90 $2,600 $31,200
3A 11/30/18 1-Bedroom RS 630 $49.52 $2,600 $31,200
3B 03/31/19 1-Bedroom RS 630 $49.52 $2,600 $31,200
3C 03/31/19 1-Bedroom RS 638 $49.84 $2,650 $31,800
3D 03/31/19 1-Bedroom RS 638 $49.84 $2,650 $31,800
4A Vacant 1-Bedroom RS 630 $52.38 $2,750 $33,000
4B 04/30/19 1-Bedroom RS 630 $52.38 $2,750 $33,000
4C 04/30/19 1-Bedroom RS 638 $50.78 $2,700 $32,400
4D 03/31/19 1-Bedroom RS 638 $50.78 $2,700 $32,400
5A 02/29/20 1-Bedroom RS 680 $54.71 $3,100 $37,200
5B 02/29/19 1-Bedroom RS 680 $54.71 $3,100 $37,200
Parking 1 Apt 4D $250 $3,000
Parking 2 Apt 3B $200 $2,400
Parking 3 Apt 3C $200 $2,400
Parking 4 Apt 3D $200 $2,400
Parking 5 Apt 4B $200 $2,400
Parking 6 Apt 2B $250 $3,000
Parking 7 Apt 2C $250 $3,000
TOTAL $39,450 $473,400
Expenses (Per Owner)Estimated Taxes (with 421-A abatement): $9,425.41
Insurance: $7,000.00
Water/Sewer: $9,351.70
Electric/Heat (common area): $12,000.00
Super: $7,200.00
Repairs & Maintenance: $6,300.00
Management Fee: $18,000.00
Total Expenses: $69,277.11
Net Operating Income: $404,122.89
NEWLY CONSTRUCTED LUXURY ASTORIA APARTMENT BUILDING FOR SALE
Cushman & Wakefield Copyright 2015. 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.
30-83 23RD STREET, ASTORIA, NY 11102