6-Unit Apartment
For Sale
$1,240,000
Pending
31-72 44th Street, Astoria, NY 11103
Commercial Sale, Astoria, NY
Property Size4,458 SF
Lot Size0.06 Acres
Days on Market153
Property Features for 31-72 44th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Rooms
Basement
Parking features
Open
Basement
Storage Space, Partially Finished, Full, Walk-Out Access
Lot features
Back Yard, Garden, Level
View
City
Elementary school
Ps 70
Middle school
Is 10 Horace Greeley
High school
William Cullen Bryant High School
Elementary school district
Queens 30
Middle school district
Queens 30
High school district
Queens 30
Standard status
Pending
APN
00693-0061
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
18568
Utilities
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
storage
laundry
private rear yard
Building Details
Year built
1928
Floors in Building
3
Number of units
6
Flooring type
Linoleum, Hardwood
Building materials
Block
Architectural style
Other
Listing Agency:
LAFFEY REAL ESTATE
(516) 328-3233
Listed By:
Philip C. Laffey · License #10491206601
(516) 359-1489
Added: May 7
Changed: Oct 5
Last Checked: Oct 6 at 9:06PM
MLS# 967531
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6-unit apartment building contains six two-bedroom apartments, with approximately 4,458 square feet of building area on a 25-by-100-foot lot. The two adjoining apartments on the top floor will be delivered vacant; the other four units are occupied. All apartments are rent stabilized, and the building has no rent-controlled units. A full basement includes laundry and storage, and a private rear yard provides additional outdoor space. The building was constructed in 1928 and has block construction.
Located on a residential block in Astoria, the property is near dining, shopping, parks and transportation options. It is zoned R5. Public water and sewer serve the property.
Located on a residential block in Astoria, the property is near dining, shopping, parks and transportation options. It is zoned R5. Public water and sewer serve the property.
Key Highlights
- Six two‑bedroom apartments; all units are rent stabilized
- Four occupied apartments and two adjoining top‑floor apartments to be delivered vacant
- Approximately 4,458 square feet on a 25‑by‑100‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,973
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,179,460
$2.2M
Cap Rate 7%
$1,556,757
$1.6M
Cap Rate 9%
$1,210,811
$1.2M
Market Conditions
NOI Build-Up for 4,458 SF
Gross rent
$206.0K $46.20/SF
− Vacancy
−$7.8K −$1.76/SF
EGI
$198.1K $44.44/SF
− OpEx
−$89.2K −$20.00/SF
NOI
$109.0K $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%
$2,179,460
Cap Rate 7%
$1,556,757
Cap Rate 9%
$1,210,811
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.83M
NOI $230,054 @ 7.0% cap · market cap 18.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,376
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four apartments are occupied, while the adjoining upper-level pair will be delivered vacant.
Where is this apartment building located?
The property is located at 31-72 44th Street Astoria, NY.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: Six two‑bedroom apartments; all units are rent stabilized; Four occupied apartments and two adjoining top‑floor apartments to be delivered vacant; Approximately 4,458 square feet on a 25‑by‑100‑foot lot
