14-18 31st Street, Astoria, NY 11106
sale
$2,875,000
|
Other
Courtesy Of AZURE REALTY NY LLC
Azure Realty is proud to exclusively present 14-18 31st Avenue, a trophy 6-unit multifamily asset in the heart of Astoria, Queens, representing a rare, premier acquisition opportunity direct from the original developer. Custom designed and completed in 2016 by renowned architect Steven Kuo, this striking residential masterpiece seamlessly fuses contemporary luxury with elite investment fundamentals, showcasing six immaculate apartments equipped with gourmet quartz kitchens, ultra-contemporary designer bathrooms, rich hardwood flooring, extra-large windows, and a premium video intercom security system. Built for the sophisticated investor, the asset is fully stabilized by a proven roster of premium tenants yielding a strong cap rate near 6%, while offering immediate capital protection through a protected Tax Class 2A designation and an active 421-a tax abatement through 2032, at which point all units legally revert to lucrative Free Market status. Furthermore, a new owner can immediately supercharge revenue and asset valuation through incredible value-add upside, including converting the massive 8-foot-high cellar into 12 to 15 tenant storage units (projected to generate an additional $24,000 to $36,000 annually), installing a coin-operated multi-machine laundry room, and styling the outdoor footprint into a communal tenant lounge. Perfectly situated just steps from the vibrant dining and entertainment along 30th Avenue and Broadway, and within seamless walking distance to the N and W subway stations for an efficient Manhattan commute, this transit-oriented location ensures a perpetual pool of top-tier professional renters. Inquire for building setup!
Read More About This Property
Read Less About This Property
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: 11-20 Years Old
- Amenities: Cable Ready
- Amenities: Basement
- Appliance: Exhaust Fan
- Appliance: Oven
- Appliance: Dishwasher
- Appliance: Cooktop
- Appliance: Microwave
- Appliance: Refrigerator
- Appliance: Stainless Steel Appliance(s)
- Architecture Style: Other
- Building Units: 6
- Cooling System: Electric
- Cooling System: Separate Meters
- Cooling System: ENERGY STAR Qualified Equipment
- Exterior Type: Brick
- Floor Covering: Hardwood
- Floors: 4
- Heating System: Energy Star Qualified Equipment (Heating)
- MLSID: 1038965
- Rooms: Basement
Data powered by Attom Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$3,698,888
Other
3128 38th Street Bldg
Astoria, NY 11103
Land: 0.06 Acres
Courtesy Of NY SPACE FINDERS INC
sale
$3,488,000
Other
30-74 14th Street
Astoria, NY 11102
Land: 0.06 Acres
Courtesy Of ERA Top Service Realty, Inc.
sale
$3,250,000
Other
4304 34th Avenue
Astoria, NY 11101
Land: 0.05 Acres
Courtesy Of NY SPACE FINDERS INC
sale
$3,180,000
Other
36-05 Vernon Boulevard
Long Island City, NY 11106
Land: 0.08 Acres
Courtesy Of Sany Realty Group LLC