This property is a two story commercial taxpayer on a through lot measuring 26 X149 (3800sf). The existing building is comprised of an auto repair shop with 25ft of frontage on Newtown Avenue and 25ft of frontage on 27th Road. With a C2-3 / R7B zoning the property has a theoretical maximum floor area of 10,920sf, making this an ideal development site in a thriving neighborhood. Located in the heart of the rapidly developing area of Astoria / LIC. With some of New Yorks best restaurants, close proximity to Astoria Park and public transportation (N/Q/F) and Noguchi Museum, close proximity to Manhattan, Easy access to the RFK Tri-Borough Bridge and Grand Central Parkway. The property stands in the fulcrum of the new development activity in Astoria. With several successful developments in the immediate vicinity this property will garner much attention with the mounting appetite for new construction in the area which is making Astoria one the citys hottest destinations for first time buyers looking for a quality product at more affordable prices. This recent surge in demand has driven condominium sale prices to the levels of $900psf with residential rental rates in new development reaching $45psf in the area. Call Matt for details (917) 270-4038.
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