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3086, 3088, 3090 Crescent St, Astoria, NY 11102

$ 9,750,000

3086 Crescent St,

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Property Id : 27974
Price: $ 9,750,000
Rooms: 18
Bedrooms: 12
Bathrooms: 6
Structure Type: Wood
Floors No: 2

About this property

30,864 BSF Development Opportunity in Prime Astoria!

Capri Jet Realty has been retained on an exclusive basis to handle the disposition of 3086, 3088, 3090 Crescent Street, a development site in the diverse, high-density, established neighborhood of Astoria. The property boasts a R6A, R6B zoning, allowing for an “as-of-right” 30,864 Sq. Ft. residential building with (46) units (proposed).

The offering consists of 3 adjacent lots:
– Lots: 51, 52, 53
– Block: 570
– Zoning: 86% of lot in R6A; 14% in R6B, allowing for 2.8 FAR
– Lot Dimensions: 51.5 x 231.72 (Irreg. approx.)

The site is located 3 blocks from the 30th Avenue N/W subway stop. The property is also located in between the Hallett’s point megadevelopment and the N/W train station which takes you into Manhattan in under 20 minutes.

Astoria has seen tremendous growth in both rental (above $60 PSF) and condo pricing (above $1,200 PSF) due to its convenient transportation options, thriving restaurant & bar scene, diverse demographics, and proximity to Manhattan. There are various employment opportunities in the area including a Mount Sinai Hospital expansion as well as the DeNiro/Wildflower studio joint venture being built in Astoria-Ditmars. Long Island City, 4 subway stops away, is home to various fortune 500 company HQs.

The property benefits from close proximity to multiple high-traffic areas including: Astoria Boulevard, 21st Street, Broadway, and 30th Avenue, 31st Street and Ditmars Boulevard. This property represents a perfect opportunity for a developer to take advantage of Astoria’s fast growth and popular nightlife. All air rights are intact.

Key Points:
– 30,864 Buildable Sq. Ft. As of Right. (46) Units
– Strong Retail Corridor Between Hallet’s Point Megadevelopment and N/W Stop.
– Strong Growth in Condo and Rental Prices. Close to Nightlife and transportation.

Call TODAY! Unique Development Opportunity!
Zoning Analysis is Available Upon Request!

*Disclaimer: All Information provided is deemed reliable but is not guaranteed and should be independently verified.

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Robert Napolitano

President/ Real Estate Broker

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