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    4616 Newtown Rd Astoria, NY 11103

    For Sale
    $3,600,000

    Luxury 6-unit elevator building, prime Astoria location.

    Property size:
    7,500 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional 2012-constructed, four-story elevator building at 4616 Newtown Road in Astoria, New York, presents a unique investment opportunity. Spanning 7,500 square feet on a 0.1-acre lot, this property features six meticulously designed units, each boasting private balconies and distinctive duplex layouts. A highlight is the stunning two-bedroom penthouse apartment, complete with a wraparound terrace offering breathtaking 360-degree views of the Manhattan skyline. The building's infrastructure is robust, including seven separate boilers, individual electric meters, and hot water heaters for each unit, ensuring efficient operation and individual utility control. Residents enjoy the convenience of a lower-level laundry room and six dedicated parking spaces accessed via a private driveway. Its location is unparalleled, just one block from the subway and minutes away from Manhattan, placing residents within easy reach of vibrant shopping, dining, and excellent transportation options. Currently fully occupied, this property offers strong rental income potential and presents the possibility of future condominium conversion. Detailed income and expense reports are available for qualified buyers. This is a rare chance to acquire a high-performing asset in one of Astoria's most desirable neighborhoods. Showings are by appointment only.

    Property Features for 4616 Newtown Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    7,500 SF
    Lot Size
    4,356 SF

    Building Details

    Year Built
    2012
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Astoria
    County
    Queens
    State
    New York
    Longitude
    -73.91317
    Latitude
    40.75721

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    FAQs

    What type of property is this?
    Commercial real estate - Luxury 6-unit elevator building, prime Astoria location.
    Where is this commercial real estate located?
    The property is located at 4616 Newtown Rd Astoria, NY.
    What is the asking price?
    The asking price for this property is $3,600,000.
    (516) 627-2800
    Request Owner's contact information
    4616 Newtown Rd Astoria, NY 11103
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    Astoria, NY 11103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4616 Newtown Rd Astoria, NY 11103
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