24-16 29th Street Astoria
Marcus & Millichap is pleased to offer 24-16 29th Street, located between 24th Avenue and Dorothy Place in the Ditmars – Steinway section of Astoria Queens, NY. The subject property holds three 4 story residential buildings that consists of 8 two-bedroom apartments, three of which have private gardens, 19 three-bedroom apartments and three on site parking spaces. The buildings total 25,000 gross square feet and sit on a 15,000 square foot lot with 150 feet of frontage. The property is zoned R5D (Block: 841, Lot: 37)
MCI from recent repiping ($110,000 expense, 8 year amortization) expected to result in $918 of additional total monthly
All current two bedroom apartments can be converted to three bedrooms.
This property offers investors the rare opportunity to acquire a trophy apartment building with an attractive unit mix and low market rent in the prime Ditmars section of Astoria Queens, New York.