- Sale Type Investment
- Year Built 2020
- Building Square Footage 14,250 (approx.)
- Building Size 50 x 62
- Lot Size 50 x 95.83
- Zoning C4-2A
- Residential Units 10
- Commercial Units 2
- No. Stories 4
- Average Occupancy 100%
- Lot Square Footage 4,750 (approx.)
- Block/Lot 00654-7503
- Real Estate Taxes (2022/23) $34,663
- Neighborhood Astoria
421-A Tax Abatement
(35 Years) In-place through 2056
ICAP Tax Abatement
(25 Years) In-place through 2046
Daniel Sa'at, Happy 8 Realty Corp., and Grand Brilliant Realty Inc has been retained on the exclusive basis to arrange for the sale of 25-34 Steinway Street, Astoria, NY.
The subject property is a 4-Story elevatored mix-use building which is comprised of two (2) commercial units on the ground floor with basement, four (4) one-bedroom units on the second floor; four (4) one-bedroom units on the third floor and two (2) two-bedroom two bath units on the fourth floor.
This mix-use building is anchored by Sitan Gym and Gorillas Technologies. The building is located in one of the best retail corridors in Queens. The property benefits from a 421-a tax abatement and ICAP abatement that will keep real estate taxes minimal with the future upside of free market units.
Tenants are responsible for their own electricity which includes heat. Each apartment has a mini split unit and are separately metered which keeps the day-to-day operating expenses to a minimum. There is also an on-site coin-operated laundry and on-site storage lockers. With extra revenue streams and great tax benefits, this high-quality, meticulously maintained investment property is a prime opportunity that is simply too good to miss.
Please do not attempt to inspect the property independently. Please Do Not Disturb The Tenants.