New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Parcel with Approved Plans Trades in Astoria
Cushman & Wakefield has arranged the sale of 25-79 31st St., a 19,715-buildable-square-foot development site in Astoria, Queens. The final closing price was $4.6 million, or $233 per buildable square foot.
The firm’s Stephen R. Preuss represented the seller, 31st Street South LLC. The buyer was Joseph Grgas.
“This is a rare opportunity to capitalize on the growing demand for new construction residential space in the Astoria and Long Island City area,” said Preuss. “The buyer has acquired an exceptional opportunity to develop in an expanding neighborhood.”
25-79 31st has fully-approved plans for a seven-story mixed-use building that will consist of one commercial/community facility space and 23 residential units. It will include below-grade private parking, a sky deck, gym, bike storage and private outdoor space in every unit.
The property is near multiple subway stations, including the N and W trains at 30th Avenue and Astoria Boulevard.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
