8-Unit Apartment
28-29 35th Street, Astoria, NY 11103
For Sale
$2,995,000
Eight one-bedroom residences feature separate utility meters and individual hot water tanks.
Property Size7,158 SF
Price / SF$418.41
Days on Market69
Property Features for 28-29 35th Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Astoria Realty Brokerage Svcs
(718) 274-3000
Listed By:
Vasilakis Pyrpos
(347) 935-7382
Source:
Croninreale
Added: Sep 1
Changed: Nov 7
Last Checked: Nov 7 at 7:11PM
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 Astoria Realty Brokerage Svcs
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Investment Insights
Based on property information with market context.
Built in 2015, this Astoria apartment property contains eight one-bedroom, one-bathroom residences. Each apartment has a separate utility meter, and tenants are responsible for their own utilities. Individual hot water tanks serve all eight units. A 421-a tax abatement is in place through 2030.
The property is at 28-29 35th Street, just off 30th Avenue and 35th Street. Nearby restaurants, cafes, shops, and nightlife serve the surrounding neighborhood, while transportation offers access to Manhattan.
The property is at 28-29 35th Street, just off 30th Avenue and 35th Street. Nearby restaurants, cafes, shops, and nightlife serve the surrounding neighborhood, while transportation offers access to Manhattan.
Key Highlights
- Eight one‑bedroom, one‑bathroom apartments
- 421‑a tax abatement runs through 2030
- Built in 2015
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,973
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,499,460
$3.5M
Cap Rate 7%
$2,499,614
$2.5M
Cap Rate 9%
$1,944,144
$1.9M
Market Conditions
NOI Build-Up for 7,158 SF
Gross rent
$330.7K $46.20/SF
− Vacancy
−$12.6K −$1.76/SF
EGI
$318.1K $44.44/SF
− OpEx
−$143.2K −$20.00/SF
NOI
$175.0K $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 Rate 5%
$3,499,460
Cap Rate 7%
$2,499,614
Cap Rate 9%
$1,944,144
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.19M – $2.92M
NOI $174,973 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,387 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,039
Businesses Nearby
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Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
Median Home Value
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Market
Properties on Market for Apartment buildings in Astoria
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom residences feature separate utility meters and individual hot water tanks.
Where is this apartment building located?
The property is located at 28-29 35th Street Astoria, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Eight one‑bedroom, one‑bathroom apartments; 421‑a tax abatement runs through 2030; Built in 2015
