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Astoria multifamily building on sale for $1.5M – QNS.com

Astoria multifamily building on sale for $1.5M

Photo courtesy of Cushman & Wakefield

A three-story, six-unit building near Astoria Park and the new Astoria Cove development site has hit the market, according to real estate company Cushman & Wakefield.

The multifamily building located at 429 27th Ave. in Astoria is being exclusively sold by Cushman & Wakefield and has an asking price $1,500,000.

The site contains about 4,080 square feet on a 20-foot-by-100-foot lot and the building consists of two two-bedroom units and four one-bedroom units. All are rent stabilized.

“The way Astoria’s waterfront is being developed will have such a positive impact on the properties in the near vicinity, so we are seeing a lot of interest in that part of the neighborhood,” said David Chkheidze of Cushman & Wakefield, who is exclusively marketing this property with Ilya Tolmasov.

“This building offers tremendous upside potential in an area that is rapidly emerging,” Tolmasov added.

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