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

$ 10,000,000

3090 Crescent St ,

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Property Id : 26682
Price: $ 10,000,000

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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