36-38 31St St, Queens, NY 11106

This exceptional eleven-unit mixed-use building in Astoria, Queens, presents a compelling investment opportunity. The four-story structure encompasses 9,932 square feet of net rentable space, featuring nine residential units and two commercial units situated on the ground floor. Each residential unit is designed with contemporary finishes, offering comfortable living spaces. The commercial units are ideally positioned to capitalize on the high foot traffic of this vibrant neighborhood. The property benefits from significant tax advantages, including a 421A tax abatement extending until 2031 for the residential units and an ICAP tax abatement for the commercial units until 2030. Located in the heart of Astoria, this property enjoys convenient access to public transportation, being a short ten-minute walk from the subway and nearby retail corridors. The building is zoned R6A, C1-3, offering flexibility and potential for future development. With its blend of residential and commercial income streams, this property offers a strong return on investment in a highly desirable and rapidly developing area of Queens. The asking price is $5,650,000.