Marcus & Millichap - Tri Borough Multi-Family

24-16 29th Street Astoria

24-16 29th Street
, Queens

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Price: $13,000,000
Building Size: 25,000 Square Feet
Property Type: Residential
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5234
Lazarus Apostolidis
Tel: 212-430-5233
Zac Golub
Tel: 212-430-5134
Property Status: Sold

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.