Real estate investor Urban American paid $20.5 million for two five-story buildings with a total of 70 apartments in the Astoria neighborhood of Queens. That works out to a price of almost $293,000 per apartment.

“Under long-term ownership prior to the sale, the buildings provide the new owner with an opportunity for immediate upside,” says Peter Von Der Ahe of Marcus & Millichap, which represented the seller, Takis Tsagronis, and procured the buyer.

Located at 30-58 34th St. and 30-64 34th St., between 30th Avenue and 31st Ave., the contiguous, walkup buildings total 49,600 square feet.

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