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Listed price in listed location currency (USD).
$2,950,000

000

MLS® 1005439

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Commercial Sale
Size -
Garage 
Taxes $712
Days Active 0
Lot Size 
Approx. Age 2015
MLS® Number 1005439

Property Address: 1418 31st Ave, Astoria, NY, 11106-4537

Average square foot calculated using Size range provided by listing agent.

Description

Azure Realty is proud to exclusively present 14-18 31st Avenue, a trophy 6-unit multifamily asset in the heart of Astoria, Queens, representing a rare, premier acquisition opportunity direct from the original developer. Custom designed and completed in 2016 by renowned architect Steven Kuo, this striking residential masterpiece seamlessly fuses contemporary luxury with elite investment fundamentals, showcasing six immaculate apartments equipped with gourmet quartz kitchens, ultra-contemporary designer bathrooms, rich hardwood flooring, extra-large windows, and a premium video intercom security system. Built for the sophisticated investor, the asset is fully stabilized by a proven roster of premium tenants yielding a strong cap rate near 6%, while offering immediate capital protection through a protected Tax Class 2A designation and an active 421-a tax abatement through 2032, at which point all units legally revert to lucrative Free Market status. Furthermore, a new owner can immediately supercharge revenue and asset valuation through incredible value-add upside, including converting the massive 8-foot-high cellar into 12 to 15 tenant storage units (projected to generate an additional $24, 000 to $36, 000 annually), installing a coin-operated multi-machine laundry room, and styling the outdoor footprint into a communal tenant lounge. Perfectly situated just steps from the vibrant dining and entertainment along 30th Avenue and Broadway, and within seamless walking distance to the N and W subway stations for an efficient Manhattan commute, this transit-oriented location ensures a perpetual pool of top-tier professional renters. Inquire for building setup!
MLS® Number1005439
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age2015
BasementFull, Unfinished
DrivewayNone
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jun 1, 2026List Date
$2,950,000List Price
  • Commute

Commute

Starting Address
Destination Address
1418 31St Ave, Astoria, NY

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