Two-Bedroom Duplex
For Sale
$1,445,000
21-31 Shore Boulevard 1B, Queens, NY 11105
Newly built duplex residence with two bedrooms, two baths, and over 2,000 SF, plus rooftop and fitness amenities.
Property Size2,045 SF
Days on Market129
Property Features for 21-31 Shore Boulevard 1B
General Information
Standard status
Active
Size
2,045 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$10,776
Building Details
Building Size
2,045 SF
Year Built
2025
Listing Agency:
Daniel Gale of Brooklyn LLC
(516) 650-5339
Listed By:
Jose F Nunez
(516) 650-5339
Source:
Serhant
Added: Apr 17
Changed: Aug 22
Last Checked: Aug 22 at 11:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Daniel Gale of Brooklyn LLC
Investment Insights
Based on property information with market context.
Residence 1B at The Aristo is a newly built two-bedroom, two-bath duplex residence designed for house-like living in a multifamily setting. The home features over 2,000 square feet of interior space with an open-concept main level, generous ceiling heights on both levels, and oversized 8-foot interior wood doors. Wide-plank oak flooring and refined contemporary finishes carry throughout.
The chef’s kitchen is anchored by a dramatic square island and includes Italian marble countertops and backsplash, along with premium appliances including a Bertazzoni range and Liebherr refrigerator. The primary suite includes a walk-in closet and an en-suite bath with radiant heated flooring. The second bedroom offers flexibility for guests or an additional home office. Downstairs, the lower level provides a large open-concept space that can be customized into multiple rooms.
Residents also have access to building amenities including a fully equipped fitness center, The Kids Corner playroom, and a common rooftop terrace. The Aristo is positioned on Shore Boulevard directly across from the East River and just moments from Astoria Park, with the N and R subway lines conveniently nearby.
The chef’s kitchen is anchored by a dramatic square island and includes Italian marble countertops and backsplash, along with premium appliances including a Bertazzoni range and Liebherr refrigerator. The primary suite includes a walk-in closet and an en-suite bath with radiant heated flooring. The second bedroom offers flexibility for guests or an additional home office. Downstairs, the lower level provides a large open-concept space that can be customized into multiple rooms.
Residents also have access to building amenities including a fully equipped fitness center, The Kids Corner playroom, and a common rooftop terrace. The Aristo is positioned on Shore Boulevard directly across from the East River and just moments from Astoria Park, with the N and R subway lines conveniently nearby.
Key Highlights
- Residence 1B is a two‑bedroom, two‑bath duplex in The Aristo multifamily building
- Over 2,000 square feet with open‑concept main level and generous ceiling heights
- Oversized 8‑foot interior wood doors and wide‑plank oak flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,989
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$999,780
$999.8K
Cap Rate 7%
$714,129
$714.1K
Cap Rate 9%
$555,433
$555.4K
Market Conditions
NOI Build-Up for 2,045 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$94.5K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$90.9K $44.44/SF
− OpEx
−$40.9K −$20.00/SF
NOI
$50.0K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$999,780
Cap Rate 7%
$714,129
Cap Rate 9%
$555,433
Alternative Uses
Best Use
Apartment 5plus
$714.1K
$624.9K – $833.2K
NOI $49,989 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,532 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Newly built duplex residence with two bedrooms, two baths, and over 2,000 SF, plus rooftop and fitness amenities.
Where is this multifamily property located?
The property is located at 21-31 Shore Boulevard 1B Queens, NY.
What is the asking price?
The asking price for this property is $1,445,000.
What are key features of this property?
This property features: Residence 1B is a two‑bedroom, two‑bath duplex in The Aristo multifamily building; Over 2,000 square feet with open‑concept main level and generous ceiling heights; Oversized 8‑foot interior wood doors and wide‑plank oak flooring
