An amazing mixed-use property on Astoria‘s busiest shopping strip was recently sold for $7,450,000 by Boulevard Realty Company.
The three-story structure, which is located at 31-53/55 Steinway St. in Astoria, was purchased by Zirk Union Turnpike. Originally built in 1930, the building would later be updated and renovated in 1992. It has office and retail spaces on the ground floor and four apartments above it.
Located in the heart of Astoria, the property is close to many means of public transportation, including the E, M, R, N and Q trains, creating easy access to travel around the borough. It’s also within walking distance of food and shopping, making it a desirable location for many property owners because of potential foot traffic leading to the commercial and retail property on the ground floor.
According to Swain Weiner, president of Greiner Maltz Investment Properties, this piece of property was in very high demand. Multiple offers were put in because of its location, strong tenancy and excellent condition.
With this property sitting on 6,822 square feet of land, Weiner has broken the record for highest price per square foot on Steinway Street.