42-01 28Th Ave Queens, NY 11103

Property Details for 42-01 28Th Ave

Property type

Land

Description

This exceptional mixed-use development opportunity in Astoria, Queens, presents a turnkey project on a 14,725 square foot corner lot at 42-01 28th Avenue. Zoned R6A, R5, and C1-2, this site boasts a total buildable area of approximately 67,861 square feet, as per complete plans already in place. The approved plans encompass 60 residential units (45 market-rate and 15 affordable units) totaling roughly 42,600 square feet, plus approximately 4,486 square feet of retail space. An 8,240 square foot basement provides parking for 28 vehicles. Demolition is complete and signed off, and the Statement of Environmental Impact (SOE) is finalized. The property is 421-a tax abatement eligible (footing documented), significantly reducing tax burdens. Its strategic location on the northeast corner of 42nd and 28th Avenues offers excellent visibility and accessibility, benefiting from high foot traffic and proximity to major transportation arteries, including the N and W subway lines and bus routes. Astoria's vibrant community, cultural richness, and thriving businesses create a highly desirable location, with easy access to Midtown Manhattan in under 30 minutes. This project capitalizes on Astoria's growth, strong demand for residential and retail spaces, and the area's premium rental and condo prices. The site's potential for significant returns makes it an attractive investment for experienced developers seeking to participate in Astoria's continued transformation. The asking price is $10,500,000.

Location Insight

City

Queens

County

Queens

State

New York

Longitude

-73.9121

Latitude

40.7648