32-02 31st Avenue, Astoria, NY 11106

32-02 31st Avenue is a property located on the corner of a prime block in the heart of Astoria. Under long-term ownership for over 50 years, this is the first time this corner development site has hit the market. 32-02 31st Avenue is a 2,485 Sq. Ft. corner development site currently owner occupied and delivered vacant. Zoned R6A, C1-3, the property can be built into a 7,455 Sq. Ft. Market Rate residential building. Alternatively, the developer could take advantage of the 9,691 Sq. Ft. of air rights under the Universal Affordability Preference from City of Yes. 31st Avenue is a commercially zoned thoroughfare, allowing the purchaser to build ground floor retail on the property (C1-3 Zoning). The property is located (2)blocks from the Broadway/31st Street Subway Stop, which allows access to Manhattan under 20 minutes. Astoria has seen tremendous growth over the last 10 years. The property is well positioned to take advantage of this growth. This is a generational opportunity for a developer to own a corner in a high-growth area.