Mixed-use building with 23 apartments may soon rise on Astoria site just sold for $4.6 million

The development site at 25-79 31st St. in Astoria is signified with the star and arrow in the above photo.
Photo courtesy of Cushman & Wakefield

Work may soon begin on a new mixed-use building set to rise along one of Astoria’s busiest streets.

Cushman & Wakefield announced on Dec. 18 that it had completed the sale of 25-79 31st St. for $4.6 million from seller 31st Street South LLC to buyer Joseph Grgas. Plans are already in place to redevelop the property, which has 19,175 buildable square feet, into a seven-story structure with 23 apartments.

“This is a rare opportunity to capitalize on the growing demand for new construction residential space in the Astoria and Long Island City area,” said Stephen Preuss of Cushman & Wakefield, who handled the lucrative transaction. “The buyer has acquired an exceptional opportunity to develop in an expanding neighborhood.”

The development plan was submitted to the Department of Buildings in April 2017 and approved on Nov. 28 of this year, according to the agency’s online database. The seven-story building includes a commercial/community facility on the ground floor and 23 residential units above it. The apartments include 11 one-bedroom units and two two-bedroom units; another 10 units will have 1 1/2 bedrooms.

The plans also call for an off-street parking garage in the cellar, a sky deck on the roof, a gym and a bike storage area. Each apartment will also have a private outdoor space.

The elevated N/W train lines run along 31st Street, and the site itself is located within walking distance of the 30th Avenue and Astoria Boulevard stations, Cushman & Wakefield noted. It’s also a short walk from Mount Sinai Queens Hospital, Athens Square Park and numerous popular restaurants along 30th Avenue.

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