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19-24 22Nd Drive ASTORIA, QUEENS 19-24 22nd Drive ASTORIA, QUEENS 4-Unit Multi-Family Building INVESTMENT OPPORTUNITY 19-24 22nd Drive PROPERTY INFO 4-Unit Multi-Family Building Astoria Queens Building Features Address: 19-24 22nd Drive, Astoria, NY 11105 Location: On the south side of 22nd Drive between 19th Street & 21st Street Block/Lot: 891 / 76 Lot Dimensions: 25' x 117.42' Building Dimensions Height: 22’ Units: 4 Zoning R5B FAR: RESIDENTIAL 1.35 | FACILITY 2.0 Lot Size: 2,935 sq. ft. (approx.) Total Buildable SF: 3,962 sq. ft. (approx.) Property Highlights Existing Structure: 5,230 sq. ft. (approx.) Voyeur Real Estate is excited to be the exclusive broker for the sale of 19-24 22nd Drive, located on Available Air Rights: 469 sq. ft. (approx.) the south side of 22nd Drive between 19th Street and 21st Street, in Queens’ Astoria neighborhood. Assessment (18/19): $622,000 Taxes (18/19): $12,529 The property is a 5,230 square foot, two-story multi-family building, containing 4 residential units, consisting of two two-bedroom and two three-bedroom apartments, and includes a custom owners duplex suite on the ground level and lower level. The property is a 25' x 117.42' lot, with R5B zoning, and includes 469 square feet of remaining air rights for a rooftop expansion. The property is located just off Astoria Park and the East River waterfront, and was fully renovated Offering Summary within the last 3 years. Price: PRICE UPON REQUEST Units: 4 Just 100 yards from both Astoria Park and 21st Street, one of Astoria’s main thoroughfares, 0.8 Price Per Unit: miles from the BQE and RFK/Triborough Bridge, and located 0.5 miles from the N-W subway Price per Square Foot: station at Ditmars Blvd, 19-24 22nd Drive is around the corner from the East River waterfront and is located just 0.5 miles from the new Mount Sinai Hospital Queens expansion project. Strong demand for sales and rentals continues to drive the residential market in Astoria, offering investors and/or developers the opportunity to acquire an asset with considerable long-term upside as either a rental property or condominium conversion in the coming years. © 2018 Voyeur Real Estate LLC is a licensed real estate broker and abides by the Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw 1 without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. As applicable, we make no representation as to the condition of the property (or properties) in question. This is not intended to solicit property already listed. 19-24 22nd Drive PROPERTY INFO Revenue LGA Potential Gross Income: - $192,600 Vacancy & Credit Loss: - $5,778 Effective Gross Income: - $186,822 Expenses Real Estate Taxes (17/18) - $12,529 Insurance - $4,980 Water/Sewer - $5,110 Fuel - N/A Electric (Common Area) - $4,000 Repairs & Maintenance - $2,000 Management - $5,605 TOTAL: - $34,224 Gross Annual Income: - $186,822 Less Expenses: - $34,224 Net Operating Income: - $152,598 22ND DRIVE RFK / TRIBOROUGH BRIDGE A S ASTORIA CITYWIDE FERRY T 19 21 O TH ST Neighborhood R S I S T • Astoria is the northwestern most neighborhood in Queens A T R R • One of the most ethnically diverse locales on Earth P E E • Located on the same block as Astoria Park, in close proximity to the new Citywide Ferry A E E Astoria terminal, several subway stations and bus lines, and provides immediate access to R T T the Brooklyn-Queens Expressway, Grand Central Parkway, LaGuardia Airport, and K Queensboro and RFK/Triborough Bridges 23RD AVENUE • Quick subway ride into Midtown Manhattan For More Information, Please Contact: • Located within highly residential Astoria neighborhood Jeffrey P. Harris Investment Highlights President • Prime location just off Astoria Park and the East River waterfront (646) 546-8533 • Keyless Access, video security system, and all new utilities (plumbing, electricity, gas, [email protected] sewer, etc.) installed within last 3 years • Additional air rights of 469 sf for a 3rd story addition Voyeur Real Estate • Utility expenses subdivided to tenants resulting in significantly below average utility costs 26-12 4th Street • Multiple Citi Bike locations within two block radius Astoria, NY 11102 • Located 0.8 miles from $150mm Mount Sinai Hospital Queens expansion project (718) 705-7897 • Tax class 2A voyeurrealestate.com • Extra-deep lot size at 117 ft • Building can be delivered either 1.) fully leased, 2.) month to month, or 3.) vacant • Opportunity to own a trophy property in a blossoming area with considerable upside © 2018 Voyeur Real Estate LLC is a licensed real estate broker and abides by the Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw 2 without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. As applicable, we make no representation as to the condition of the property (or properties) in question. This is not intended to solicit property already listed. 19-24 22nd Drive RENT ROLL Status Unit # Unit Type Unit Status Outdoor Outdoor SF Monthly Rent Annual Rent Leased 1A 2 / 1 Market None - $ 3,400 $ 40,800 Leased 1B 3 / 2 Market Patio 400 sf $ 5,500 $ 66,000 Leased 2A 3 / 1 Market None - $ 3,750 $ 45,000 Leased 2B 2 / 1 Market None - $ 3,400 $ 40,800 AVERAGE: $ 4,013 $ 48,150 TOTAL: $ 16,050 $ 192,600 Rent Roll: $ 192,600 © 2018 Voyeur Real Estate LLC is a licensed real estate broker and abides by the Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw 3 without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. As applicable, we make no representation as to the condition of the property (or properties) in question. This is not intended to solicit property already listed. 19-24 22nd Drive PROPERTY INFO Custom Owner’s Suite 19-24 22nd Drive features a custom-built duplex owner’s suite constructed by the builder themselves. • Keyless Access • In-Wall Speaker System • Security System • Central A/C System • Built-In Gas Fireplace • Smart Bathroom with Custom Lighting • Chef’s Kitchen and Island Breakfast Bar • Lower Level Bar Kitchen & Patio Access • Lower Level Den • Laundry Room • 200+ SF Custom Walk-In Closet 4 19-24 22nd Drive OWNER’S SUITE 5 19-24 22nd Drive OWNER’S SUITE 6 19-24 22nd Drive OWNER’S SUITE 7 19-24 22nd Drive NEIGHBORHOOD INFO Astoria Park - Renovations Located along the East River waterfront, and framed by the Triborough and Hell Gate Bridges, Astoria Park is one of the premier parks in New York City. Featuring a running track, tennis courts, basketball courts, bocce, skate park, walking paths, lawn, and the largest pool in New York City Astoria Park was recently granted $30 million for capital improvements to bring the park into the 21st century NYC Ferry - Astoria Route Premiering in August 2017, the new Astoria route of the East River NYC Ferry connects the neighborhood with hubs on Roosevelt Island, Long Island City, East 34th Street and Wall Street This ferry expansion provides an additional transportation option to connect the Astoria waterfront to Manhattan and Brooklyn, as well as significantly faster commutes to both Midtown and the Financial District 8 ____ ASTORIA ROUTE 19-24 22nd Drive NEIGHBORHOOD INFO Brooklyn-Queens Connector (BQX) Proposed waterfront streetcar connecting Sunset Park, Brooklyn with Astoria, Queens Stretching 17-miles and passing through 10 neighborhoods Could break ground as early as 2019 Astoria Arts Scene Astoria features one of the most robust arts scenes in all of New York City Home to Kaufman Astoria Studios, one of the premier film production facilities in the country, as well as the Noguchi Museum, Socrates Sculpture Park, and the Welling Court Mural Project, one of the largest outdoor art installations in New York 9 Voyeur Real Estate is a full-service brokerage focusing on residential and commercial sales and leasing in New York City. Located in Astoria, Queens, Voyeur leverages experience, emerging technologies and data analysis to provide buyers, sellers, investors and developers a comprehensive platform to maximize their market position. Fostering a culture of collaboration with the greater real estate industry, Voyeur offers sales, design, and multi-channel marketing strategies to ensure the finest service and results for our clients. For more information, please contact: Jeffrey P. Harris Voyeur Real Estate President 26-12 4th Street (646) 546-8533 Astoria, NY 11102 [email protected] (718) 705-7897 voyeurrealestate.com.
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