Two-Family with Adjacent Development
For Sale
Contact for pricing
25-44 22nd Street, Astoria, NY 11102
Combined parcels offer R5B zoning flexibility and substantial frontage for residential development planning in Astoria, Queens.
Property Size4,000 SF
Price / SF$650
Days on Market143
Property Features for 25-44 22nd Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multifamily, Land
Zoning
R5b
Listing Agency:
A Class Realty International
Listed By:
Tony Mazzara · License #10311200571
Source:
Crexi
Added: Jun 8
Changed: Oct 25
Last Checked: Oct 28 at 8:14AM
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 A Class Realty International
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Investment Insights
Based on property information with market context.
This for-sale package combines a legal two-family residential property with an adjacent vacant parcel, sold strictly together. The offering includes 25-44 22nd Street and the contiguous vacant lot identified as Block 884, Lot 97 (measuring 25' x 80'). Together, the parcels create an expansive combined building footprint of approximately 4,000 square feet with 50 feet of street frontage and 80 feet of depth.
The combined site is located in Astoria, Queens, NY 11102. The property is positioned on a street-fronting parcel with meaningful depth to support development layouts subject to local approvals. Provided mobility indicators include a BikeScore of 80, a WalkScore of 97, and a TransitScore of 99.
For developers and investors seeking a consolidated, contiguous lot package, this configuration may support residential redevelopment planning under R5B zoning. The property is described as having zoning flexibility for up to 6,000 maximum buildable gross square feet, subject to permitting and final approvals. Buyers evaluating the site can plan around the combination of frontage, depth, and the legal two-family component as part of their next-step due diligence.
The combined site is located in Astoria, Queens, NY 11102. The property is positioned on a street-fronting parcel with meaningful depth to support development layouts subject to local approvals. Provided mobility indicators include a BikeScore of 80, a WalkScore of 97, and a TransitScore of 99.
For developers and investors seeking a consolidated, contiguous lot package, this configuration may support residential redevelopment planning under R5B zoning. The property is described as having zoning flexibility for up to 6,000 maximum buildable gross square feet, subject to permitting and final approvals. Buyers evaluating the site can plan around the combination of frontage, depth, and the legal two-family component as part of their next-step due diligence.
Key Highlights
- Legal two‑family home at 25‑44 22nd Street sold strictly together with adjacent vacant parcel (Block 884, Lot 97).
- Combined contiguous parcels include a 25' x 80' vacant lot, with 50' of street frontage and 80' depth across the package.
- Combined parcels create an estimated 4,000 SF building footprint for development planning.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,778
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,955,560
$2.0M
Cap Rate 7%
$1,396,829
$1.4M
Cap Rate 9%
$1,086,422
$1.1M
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$184.8K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$177.8K $44.44/SF
− OpEx
−$80.0K −$20.00/SF
NOI
$97.8K $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 Rate 5%
$1,955,560
Cap Rate 7%
$1,396,829
Cap Rate 9%
$1,086,422
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,778 @ 7.0% cap · market cap 3.76%
Second Best
Multifamily LT 5
$945.8K
$827.6K – $1.10M
NOI $66,206 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,419 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
4,849
Businesses Nearby
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Business Placement
Demographics for 11102, NY
37,468
Population
19,431
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
90%
High-School Grad
0.7 sq mi
ZIP Area
53,526
Density / Sq Mi
$102,996
Median Household Income
$70,557
Median Earnings
$2,248
Median Rent
$779,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Combined parcels offer R5B zoning flexibility and substantial frontage for residential development planning in Astoria, Queens.
Where is this duplex located?
The property is located at 25-44 22nd Street Astoria, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Legal two‑family home at 25‑44 22nd Street sold strictly together with adjacent vacant parcel (Block 884, Lot 97).; Combined contiguous parcels include a 25' x 80' vacant lot, with 50' of street frontage and 80' depth across the package.; Combined parcels create an estimated 4,000 SF building footprint for development planning.
