With a prime location, an Astoria site recently put up for sale could be an attractive opportunity for buyers looking to invest in the area.
The development site located at 69-15 Astoria Blvd. is currently on the market and is considered a “versatile property” available for potential residential or commercial development, according to GFI Realty Services Inc., which has been named the exclusive sales agent for the property.
“69-15 Astoria Blvd. has a great deal of versatility, and we expect to draw the interest of investors looking to convert it to commercial or residential use,” said Gavin Bolsom from GFI Realty who will oversee the marketing of the site with Sasha Berg. “New York is experiencing an influx of young professionals, and opportunistic buyers will be drawn to the potential of constructing 14 residential units in prime Astoria.”
The location, which is within walking distance of the N and Q trains, is currently home to a family-owned lumberyard whose owner is looking to retire and close up shop. The site has a maximum buildable area of 9,500 square feet.
With a high demand for residential spaces in the Astoria area, Bolsom added that the location – which faces both Astoria Boulevard and Hazen Street — would be great for future residents as it is found in close proximity to various cafes, restaurants, lounges and cultural institutions such as Kaufman Astoria Studios, the Museum of the Moving Image, Astoria Park and more.
“One of the attractive components of this property is its frontage on both Astoria Boulevard and Hazen Street,” Bolsom said. “With this unique setup, the property is well positioned for a drive-through commercial enterprise. With its visibility from the Grand Central Parkway, there also exists the potential for significant advertising revenue.”
