Cushman & Wakefield now selling Astoria apartment building

Screen shot via Google Maps

Screen shot via Google Maps

Real Estate giant Cushman & Wakefield has been named the agent to sell this walk-up apartment building at 28-08 23rd Avenue.

The asking price is $3.4 million.

The building is just blocks from the N/W train at Ditmars Boulevard. It’s also near the Triboro (now RFK) Bridge, the Grand Central and Brooklyn-Queens Expressway.

The eight-unit, four-story building consists of two-bedroom apartments. Four are rent-stabilized. The building also includes one rent-controlled unit, three market-rate units and one vacant apartment.

Recent improvements include a new gas boiler and water heater.

“This is an excellent opportunity for an investor with a 1031 exchange,” says Thomas Donovan of Cushman & Wakefield. “The in-place average monthly rent represents 75 of the current market rent, leaving tremendous upside potential for future owners.”

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>