Property Description

Investor Opportunity in the Path of Willets Point Redevelopment38-Unit Multifamily Asset | Strong In-Place Cash Flow | 6% Cap RateR6B / C1-3 Zoning - 9,000 square feet of unused FAR- 38 rent-stabilized studio apartments- 12 income-producing parking spaces- 6% Cap Rate- Approximately 9,000+ SF of unused FAR- Detached building with operational flexibility- Positioned to benefit from the multibillion-dollar Willets Point redevelopment- Rare combination of current yield and future upsidePositioned just minutes from the multibillion-dollar Willets Point redevelopment, this property offers investors a rare combination of stable cash flow and long-term upside. Located on Astoria Boulevard, the asset benefits from its proximity to the future soccer stadium, hotel, retail, and mixed-use developments that are transforming the area.Location Highlights- Minutes from the Willets Point redevelopment district- Convenient access to LaGuardia Airport- Served by the Q19, Q49, Q72, and Q47 bus lines- Minutes to the Grand Central Parkway, Long Island Expressway and Cross Island Parkway- A unique opportunity to acquire a cash-flowing multifamily asset with significant appreciation and development potential in one of Queens' fastest-growing corridors, just minutes away from the most exciting thing to happen in Queens since the World's Fair.

Property Features

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