3088 & 3090 Crescent Street, New York, New York 11102, USA

23,638 BSF Development Opportunity in Prime Astoria!

Capri Jet Realty has been retained on an exclusive basis to handle the disposition of 3088 & 3090 Crescent St, a 23,638 Sq. Ft. development site in the diverse, high-density, established neighborhood of Astoria. The property boasts a R6A zoning, allowing for an “as-of-right” 23,638 Sq. Ft. residential building with (35) units proposed. Using affordable housing, the site allows for 30,642 Sq. Ft. residential building with (45) units proposed.

The offering consists of 2 adjacent lots:
– Lots: 52 & 53
– Block: 570
– Zoning: R6A
– Lot Dimensions: 36.59 x 231.72 (Irreg. approx.)

The site is located 3 blocks from the 30th Ave N/W subway stop. The property is also located in between the Hallett’s point megadevelopment and the N/W train station which takes you into Manhattan in under 20 mins. Astoria has seen tremendous growth in both rental (above $60 PSF) and condo pricing (above $1,200 PSF) due to its convenient transportation options, thriving restaurant & bar scene, diverse demographics, and proximity to Manhattan. There are various employment opportunities in the area including a Mount Sinai Hospital expansion as well as the DeNiro/Wildflower studio joint venture being built in Astoria-Ditmars. Long Island City, 4 subway stops away, is home to various fortune 500 company HQs. The property benefits from proximity to multiple high-traffic areas including: Astoria Blvd, 21st St, Broadway, and 30th Ave, 31st St and Ditmars Blvd. This property represents a perfect opportunity for a developer to take advantage of Astoria’s fast growth and popular nightlife. All air rights are intact.

Key Points:
– 23,638 Buildable Sq. Ft. As of Right (35) Units
– 30,642 Buildable Sq. Ft As of Right (45) Units w/ Affordable Housing
– Strong Retail Corridor Between Hallet’s Point Megadevelopment and N/W Stop.
– Strong Growth in Condo and Rental Prices. Close to Nightlife and transportation.

Unique Development Opportunity!
Zoning Analysis is Available!

*Disclaimer: All Information provided is deemed reliable but is not guaranteed and should be independently verified.