New Listing - 06/01/2026
1418 31st Avenue, Astoria, NY, 11106
2015
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!
Status:
Active
Type:
Commercial
Units:
6
Heating:
Electric, ENERGY STAR Qualified Equipment
Cooling:
Electric, ENERGY STAR Qualified Equipment
Basement:
Full, Unfinished
Levels:
4
Acreage:
0.05
Est. Taxes:
$712
Assessment
$517,050
Construction
Brick
Utilities
Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected
Elementary School:
Ps 171 Peter G Van Alst
Middle School:
Albert Shanker Sch-Visual/Perf Arts
High School:
Long Island City High School
School District:
Community District 30
Days on Market:
1
Appliances:
Cooktop, Dishwasher, Exhaust Fan, Microwave, Oven, Refrigerator, Stainless Steel Appliance(s)
MLS #:
1005439
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Azure Realty Group NY LLC 347-484-9965