1418 31st AVE, Astoria, NY 11106
1418 31st AVE, Astoria, NY 11106
1418 31st AVE, Astoria, NY 11106
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Randy Reis

Randy Reis

+1(917) 435-4870
$2,950,000
Est. payment /mo
2,191 Sqft Lot
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UPDATED:

Key Details

Property Type Other Types

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1005439

Rental Info No

Year Built 2015

Annual Tax Amount $712

Lot Size 2,191 Sqft

Acres 0.0503

Property Sub-Type Multi Family

Source onekey2

Property 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!

Location

State NY

County Queens

Rooms

Basement Full, Unfinished

Interior

Heating Electric, ENERGY STAR Qualified Equipment

Cooling Electric, ENERGY STAR Qualified Equipment

Flooring Hardwood

Fireplace No

Appliance Cooktop, Dishwasher, Exhaust Fan, Microwave, Oven, Refrigerator, Stainless Steel Appliance(s)

Exterior

Parking Features None

Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected

Building

Story 4

Sewer Public Sewer

Water Public

Structure Type Brick

Schools

Elementary Schools Ps 171 Peter G Van Alst

Middle Schools Albert Shanker Sch-Visual/Perf Arts

High Schools Queens 30

School District Queens 30

Others

Special Listing Condition None

Read Less Info
OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS
Listed by Azure Realty Group NY LLC • Christina M. Cricenti

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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